Ignite Planners LLC Lowers Stock Position in HSBC Holdings plc $HSBC

Ignite Planners LLC lessened its stake in shares of HSBC Holdings plc (NYSE:HSBC) by 49.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,278 shares of the financial services provider’s stock after selling 8,136 shares during the quarter. Ignite Planners LLC’s holdings in HSBC were worth $651,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in HSBC. Measured Wealth Private Client Group LLC acquired a new stake in shares of HSBC during the third quarter worth about $26,000. Binnacle Investments Inc lifted its position in shares of HSBC by 80.5% during the third quarter. Binnacle Investments Inc now owns 444 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 198 shares in the last quarter. JPL Wealth Management LLC acquired a new stake in shares of HSBC during the third quarter worth about $41,000. Root Financial Partners LLC acquired a new stake in shares of HSBC during the third quarter worth about $43,000. Finally, Cornerstone Planning Group LLC lifted its position in shares of HSBC by 30.7% during the fourth quarter. Cornerstone Planning Group LLC now owns 498 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 117 shares in the last quarter. Institutional investors and hedge funds own 1.48% of the company’s stock.

HSBC Stock Down 0.1%

Shares of NYSE:HSBC opened at $91.94 on Friday. The firm’s 50 day moving average price is $86.92 and its 200 day moving average price is $82.47. The stock has a market cap of $315.96 billion, a price-to-earnings ratio of 15.07, a price-to-earnings-growth ratio of 0.92 and a beta of 0.56. HSBC Holdings plc has a fifty-two week low of $58.14 and a fifty-two week high of $94.79. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.52.

HSBC (NYSE:HSBC) last issued its earnings results on Tuesday, March 31st. The financial services provider reported $0.44 earnings per share for the quarter. The firm had revenue of $19.13 billion for the quarter. HSBC had a net margin of 16.06% and a return on equity of 13.35%. As a group, equities research analysts predict that HSBC Holdings plc will post 8.54 earnings per share for the current fiscal year.

HSBC Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, May 15th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $2.00 annualized dividend and a yield of 2.2%. HSBC’s dividend payout ratio (DPR) is 32.46%.

Insiders Place Their Bets

In related news, insider Daniel Scott Palomaki sold 23,123 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $18.11, for a total value of $418,757.53. Following the sale, the insider owned 4,973 shares of the company’s stock, valued at $90,061.03. This trade represents a 82.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.01% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Zacks Research cut shares of HSBC from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. Royal Bank Of Canada reissued a “sector perform” rating on shares of HSBC in a research report on Thursday, May 14th. The Goldman Sachs Group assumed coverage on shares of HSBC in a research report on Thursday, March 26th. They set a “buy” rating on the stock. BNP Paribas Exane cut shares of HSBC from an “outperform” rating to a “neutral” rating in a research report on Tuesday, April 14th. Finally, Weiss Ratings cut shares of HSBC from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $63.00.

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.