QRG Capital Management Inc. Purchases 8,972 Shares of HSBC Holdings plc $HSBC

QRG Capital Management Inc. increased its position in shares of HSBC Holdings plc (NYSE:HSBC) by 4.0% during the first quarter, HoldingsChannel.com reports. The firm owned 233,194 shares of the financial services provider’s stock after buying an additional 8,972 shares during the period. QRG Capital Management Inc.’s holdings in HSBC were worth $19,236,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. Foresight Global Investors Inc. acquired a new position in shares of HSBC in the 3rd quarter valued at $12,810,000. Northwestern Mutual Wealth Management Co. increased its stake in HSBC by 1,272.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 909,464 shares of the financial services provider’s stock valued at $71,548,000 after acquiring an additional 843,186 shares during the period. Bleakley Financial Group LLC acquired a new position in HSBC in the fourth quarter worth about $988,000. Assetmark Inc. lifted its stake in HSBC by 74.6% during the fourth quarter. Assetmark Inc. now owns 47,456 shares of the financial services provider’s stock worth $3,733,000 after purchasing an additional 20,281 shares during the period. Finally, May Hill Capital LLC boosted its holdings in HSBC by 105.9% during the fourth quarter. May Hill Capital LLC now owns 23,424 shares of the financial services provider’s stock valued at $1,843,000 after purchasing an additional 12,047 shares in the last quarter. 1.48% of the stock is currently owned by institutional investors and hedge funds.

HSBC Stock Performance

NYSE HSBC opened at $96.69 on Friday. HSBC Holdings plc has a 1-year low of $60.51 and a 1-year high of $97.88. The company has a 50 day moving average of $92.27 and a 200-day moving average of $87.16. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.52. The firm has a market cap of $332.29 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 0.85 and a beta of 0.57.

HSBC (NYSE:HSBC) last released its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $0.44 EPS for the quarter. HSBC had a return on equity of 13.35% and a net margin of 16.06%.The business had revenue of $19.12 billion for the quarter. On average, equities analysts forecast that HSBC Holdings plc will post 8.67 earnings per share for the current fiscal year.

HSBC Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, May 15th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $2.00 dividend on an annualized basis and a yield of 2.1%. HSBC’s payout ratio is currently 32.46%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HSBC. BNP Paribas Exane lowered HSBC from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 14th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of HSBC in a research note on Thursday, May 14th. Zacks Research cut HSBC from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of HSBC in a report on Tuesday, June 23rd. Finally, Weiss Ratings downgraded shares of HSBC from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Five equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, HSBC presently has a consensus rating of “Hold”.

Insider Activity at HSBC

In other news, insider Daniel Scott Palomaki sold 23,123 shares of the firm’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $18.11, for a total value of $418,757.53. Following the completion of the sale, the insider directly owned 4,973 shares in the company, valued at approximately $90,061.03. This trade represents a 82.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.01% of the company’s stock.

HSBC Profile

HSBC Holdings plc (NYSE: HSBC) is a multinational banking and financial services organization headquartered in London. It traces its origins to the Hongkong and Shanghai Banking Corporation, founded in 1865 to facilitate trade between Europe and Asia, and has since grown into one of the world’s largest banking groups. The company is publicly listed in multiple markets, including the London Stock Exchange, the Hong Kong Stock Exchange and as an American depositary receipt on the New York Stock Exchange.

HSBC operates a universal banking model, serving retail, commercial, corporate and institutional clients.