Advisors Asset Management Inc. Increases Stock Holdings in HSBC Holdings plc (NYSE:HSBC)

Advisors Asset Management Inc. boosted its position in HSBC Holdings plc (NYSE:HSBC) by 19.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 37,094 shares of the financial services provider’s stock after purchasing an additional 6,056 shares during the period. Advisors Asset Management Inc.’s holdings in HSBC were worth $1,676,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mediolanum International Funds Ltd bought a new stake in HSBC during the 3rd quarter valued at approximately $139,895,000. International Assets Investment Management LLC purchased a new position in shares of HSBC in the 3rd quarter worth approximately $54,770,000. Natixis Advisors LLC boosted its holdings in shares of HSBC by 22.1% in the 2nd quarter. Natixis Advisors LLC now owns 413,789 shares of the financial services provider’s stock worth $18,000,000 after purchasing an additional 74,980 shares during the period. Crossmark Global Holdings Inc. boosted its holdings in shares of HSBC by 15.7% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 500,547 shares of the financial services provider’s stock worth $22,620,000 after purchasing an additional 67,941 shares during the period. Finally, Meritage Portfolio Management boosted its holdings in shares of HSBC by 28.9% in the 3rd quarter. Meritage Portfolio Management now owns 301,813 shares of the financial services provider’s stock worth $13,639,000 after purchasing an additional 67,617 shares during the period. 1.48% of the stock is owned by hedge funds and other institutional investors.

HSBC Price Performance

HSBC opened at $45.94 on Monday. The business has a fifty day moving average of $45.17 and a 200 day moving average of $44.08. HSBC Holdings plc has a 52-week low of $36.93 and a 52-week high of $47.56. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The stock has a market cap of $166.39 billion, a P/E ratio of 7.59 and a beta of 0.56.

HSBC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 8th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date of this dividend is Friday, November 8th. HSBC’s payout ratio is currently 32.73%.

Wall Street Analyst Weigh In

Separately, Dbs Bank upgraded HSBC to a “strong-buy” rating in a report on Wednesday, July 31st.

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.