HSBC Holdings plc (NYSE:HSBC) Shares Purchased by Envestnet Asset Management Inc.

Posted by Defense World Staff on Feb 26th, 2023

Envestnet Asset Management Inc. raised its holdings in HSBC Holdings plc (NYSE:HSBC – Get Rating) by 118.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 469,434 shares of the financial services provider’s stock after purchasing an additional 254,841 shares during the quarter. Envestnet Asset Management Inc.’s holdings in HSBC were worth $12,238,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Zions Bancorporation N.A. increased its stake in HSBC by 31.3% in the second quarter. Zions Bancorporation N.A. now owns 1,312 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 313 shares during the period. Brinker Capital Investments LLC increased its stake in HSBC by 3.9% in the first quarter. Brinker Capital Investments LLC now owns 10,424 shares of the financial services provider’s stock valued at $357,000 after purchasing an additional 388 shares during the period. Cetera Advisor Networks LLC increased its stake in HSBC by 5.7% in the first quarter. Cetera Advisor Networks LLC now owns 8,603 shares of the financial services provider’s stock valued at $294,000 after purchasing an additional 463 shares during the period. UMB Bank n.a. increased its stake in HSBC by 52.5% in the third quarter. UMB Bank n.a. now owns 1,414 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 487 shares during the period. Finally, Clarius Group LLC increased its stake in HSBC by 4.7% in the second quarter. Clarius Group LLC now owns 11,896 shares of the financial services provider’s stock valued at $389,000 after purchasing an additional 539 shares during the period. 1.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on HSBC. Jefferies Financial Group raised shares of HSBC from a “hold” rating to a “buy” rating in a report on Thursday, January 5th. UBS Group lifted their target price on shares of HSBC from GBX 680 ($8.19) to GBX 700 ($8.43) in a report on Thursday, November 3rd. Deutsche Bank Aktiengesellschaft raised shares of HSBC from a “hold” rating to a “buy” rating in a report on Monday, January 16th. Royal Bank of Canada boosted their price objective on shares of HSBC from GBX 750 ($9.03) to GBX 775 ($9.33) in a report on Friday. Finally, Barclays boosted their price objective on shares of HSBC from GBX 780 ($9.39) to GBX 840 ($10.12) in a report on Wednesday. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $669.33.

HSBC Stock Up 0.1 %

Shares of NYSE HSBC opened at $38.02 on Friday. HSBC Holdings plc has a 12-month low of $24.77 and a 12-month high of $39.63. The company has a market capitalization of $154.45 billion, a PE ratio of 10.33, a price-to-earnings-growth ratio of 0.38 and a beta of 0.62. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.90 and a quick ratio of 0.96. The firm’s 50-day moving average is $35.13 and its two-hundred day moving average is $31.17.

HSBC Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 27th. Shareholders of record on Friday, March 3rd will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 12.10%. The ex-dividend date is Thursday, March 2nd. This is an increase from HSBC’s previous quarterly dividend of $0.45. HSBC’s dividend payout ratio is 67.39%.

HSBC Company Profile

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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.