HSBC Holdings plc (NYSE:HSBC) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. reduced its position in HSBC Holdings plc (NYSE:HSBC) by 11.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 14,241 shares of the financial services provider’s stock after selling 1,866 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in HSBC were worth $704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Berbice Capital Management LLC acquired a new position in shares of HSBC during the 4th quarter worth approximately $25,000. Venturi Wealth Management LLC increased its holdings in HSBC by 58.2% in the 4th quarter. Venturi Wealth Management LLC now owns 571 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 210 shares in the last quarter. Whipplewood Advisors LLC acquired a new position in HSBC during the fourth quarter worth $30,000. Larson Financial Group LLC lifted its holdings in HSBC by 138.5% during the third quarter. Larson Financial Group LLC now owns 775 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 450 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of HSBC in the fourth quarter valued at about $49,000. 1.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HSBC has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft cut HSBC from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. Barclays upgraded HSBC from an “equal weight” rating to an “overweight” rating in a report on Tuesday, March 4th. UBS Group reiterated a “neutral” rating on shares of HSBC in a research report on Thursday, March 6th. StockNews.com upgraded shares of HSBC from a “sell” rating to a “hold” rating in a research report on Tuesday, March 11th. Finally, Royal Bank of Canada reiterated a “sector perform” rating on shares of HSBC in a report on Monday, February 3rd. Four 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

HSBC Stock Up 0.4 %

Shares of NYSE HSBC opened at $58.08 on Tuesday. HSBC Holdings plc has a 1 year low of $38.94 and a 1 year high of $61.88. The company has a market capitalization of $206.84 billion, a price-to-earnings ratio of 9.37, a price-to-earnings-growth ratio of 1.05 and a beta of 0.51. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.88 and a quick ratio of 0.96. The business has a 50-day moving average of $55.04 and a two-hundred day moving average of $49.37.

HSBC (NYSE:HSBC) last posted its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.04. The business had revenue of $11.56 billion during the quarter, compared to the consensus estimate of $13.79 billion. HSBC had a return on equity of 12.20% and a net margin of 16.17%. On average, analysts forecast that HSBC Holdings plc will post 6.66 earnings per share for the current fiscal year.

HSBC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, March 7th will be given a dividend of $1.80 per share. The ex-dividend date is Friday, March 7th. This represents a $7.20 annualized dividend and a dividend yield of 12.40%. HSBC’s payout ratio is currently 115.81%.

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.