Horizon Investments LLC Acquires 34,305 Shares of HSBC Holdings plc (NYSE:HSBC)

Horizon Investments LLC lifted its holdings in shares of HSBC Holdings plc (NYSE:HSBC) by 97.4% in the first quarter, Holdings Channel reports. The institutional investor owned 69,542 shares of the financial services provider’s stock after buying an additional 34,305 shares during the period. Horizon Investments LLC’s holdings in HSBC were worth $2,789,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Farmers National Bank acquired a new position in shares of HSBC during the 1st quarter worth about $25,000. Harvest Group Wealth Management LLC acquired a new position in shares of HSBC during the 1st quarter worth about $27,000. Berman Capital Advisors LLC acquired a new position in shares of HSBC during the 4th quarter worth about $29,000. Vigilant Capital Management LLC acquired a new position in shares of HSBC during the 1st quarter worth about $31,000. Finally, Massey Quick Simon & CO. LLC acquired a new position in shares of HSBC during the 1st quarter worth about $41,000. Institutional investors own 2.49% of the company’s stock.

Shares of HSBC stock traded up $0.27 on Monday, reaching $41.03. The stock had a trading volume of 11,491 shares, compared to its average volume of 1,499,052. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market cap of $163.15 billion, a price-to-earnings ratio of 13.03, a PEG ratio of 2.57 and a beta of 0.67. HSBC Holdings plc has a 12 month low of $38.23 and a 12 month high of $48.87.

HSBC (NYSE:HSBC) last issued its earnings results on Friday, May 3rd. The financial services provider reported $1.08 earnings per share (EPS) for the quarter. The firm had revenue of $14.41 billion during the quarter. Sell-side analysts predict that HSBC Holdings plc will post 3.62 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, May 17th will be issued a $0.50 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.87%. HSBC’s payout ratio is 63.49%.

A number of research firms have recently commented on HSBC. ValuEngine upgraded shares of HSBC from a “sell” rating to a “hold” rating in a research note on Saturday, June 1st. Goldman Sachs Group raised shares of HSBC from a “neutral” rating to a “buy” rating in a report on Wednesday, May 22nd. JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of HSBC in a report on Friday, March 8th. Deutsche Bank reaffirmed a “sell” rating on shares of HSBC in a report on Friday, March 1st. Finally, Macquarie cut shares of HSBC from a “neutral” rating to an “underperform” rating and set a $40.59 target price on the stock. in a report on Monday, February 25th. Eight equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $43.80.

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HSBC Profile

HSBC Holdings plc provides banking and financial products and services. The company operates through Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking segments. The Retail Banking and Wealth Management segment offers personal banking products and services, mortgages and loans, credit cards, insurance and investment products, savings products, international services, and wealth solutions and financial planning services, as well as telephone, Internet, and mobile banking services.

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Institutional Ownership by Quarter for HSBC (NYSE:HSBC)

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