Park Avenue Securities LLC Acquires 3,060 Shares of HSBC Holdings plc (NYSE:HSBC)

Park Avenue Securities LLC increased its position in HSBC Holdings plc (NYSE:HSBC) by 9.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,749 shares of the financial services provider’s stock after purchasing an additional 3,060 shares during the quarter. Park Avenue Securities LLC’s holdings in HSBC were worth $2,053,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Northern Trust Corp grew its position in shares of HSBC by 52.0% during the 4th quarter. Northern Trust Corp now owns 2,781,307 shares of the financial services provider’s stock worth $137,563,000 after buying an additional 951,050 shares during the period. GAMMA Investing LLC lifted its stake in HSBC by 7,061.5% in the 1st quarter. GAMMA Investing LLC now owns 559,311 shares of the financial services provider’s stock valued at $321,210,000 after acquiring an additional 551,501 shares in the last quarter. FMR LLC lifted its stake in HSBC by 18.1% in the 4th quarter. FMR LLC now owns 2,883,238 shares of the financial services provider’s stock valued at $142,605,000 after acquiring an additional 441,033 shares in the last quarter. Raymond James Financial Inc. bought a new stake in HSBC in the 4th quarter valued at approximately $17,815,000. Finally, Contrarian Capital Management L.L.C. bought a new stake in HSBC in the 4th quarter valued at approximately $11,914,000. 1.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HSBC. Wall Street Zen upgraded HSBC from a “sell” rating to a “hold” rating in a research note on Tuesday, March 11th. Bank of America reaffirmed a “neutral” rating and issued a $63.00 price objective on shares of HSBC in a report on Tuesday, June 3rd. Barclays raised HSBC from an “equal weight” rating to an “overweight” rating in a report on Tuesday, March 4th. Finally, UBS Group reissued a “neutral” rating on shares of HSBC in a report on Thursday, March 6th. Five research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $63.00.

HSBC Trading Down 1.2%

NYSE HSBC opened at $59.60 on Wednesday. The business has a 50 day moving average price of $55.82 and a 200-day moving average price of $53.77. HSBC Holdings plc has a 52 week low of $39.42 and a 52 week high of $61.88. The company has a market cap of $209.54 billion, a price-to-earnings ratio of 9.61, a P/E/G ratio of 1.05 and a beta of 0.58. The company has a quick ratio of 0.96, a current ratio of 0.88 and a debt-to-equity ratio of 0.69.

HSBC (NYSE:HSBC) last announced its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.35. HSBC had a return on equity of 12.20% and a net margin of 16.17%. The firm had revenue of $17.74 billion during the quarter, compared to the consensus estimate of $16.60 billion. As a group, equities analysts expect that HSBC Holdings plc will post 6.66 earnings per share for the current fiscal year.

HSBC Announces Dividend

The business also recently disclosed a dividend, which will be paid on Friday, June 20th. Investors of record on Monday, May 12th will be issued a dividend of $0.495 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a yield of 3.5%. HSBC’s dividend payout ratio (DPR) is 36.33%.

HSBC Profile

HSBC Holdings plc provides banking and financial services worldwide. The company operates through Wealth and Personal Banking, Commercial Banking, and Global Banking and Markets segments. The Wealth and Personal Banking segment offers retail banking and wealth products, including current and savings accounts, mortgages and personal loans, credit and debit cards, and local and international payment services; and wealth management services comprising insurance and investment products, global asset management services, investment management, and private wealth solutions.