Clearbridge Investments LLC Has $299,000 Stock Holdings in HSBC Holdings plc (NYSE:HSBC)

Posted by on May 29th, 2023

Clearbridge Investments LLC decreased its holdings in shares of HSBC Holdings plc (NYSE:HSBC – Get Rating) by 6.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,597 shares of the financial services provider’s stock after selling 619 shares during the quarter. Clearbridge Investments LLC’s holdings in HSBC were worth $299,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Envestnet Asset Management Inc. grew its holdings in shares of HSBC by 118.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 469,434 shares of the financial services provider’s stock worth $12,238,000 after purchasing an additional 254,841 shares in the last quarter. Evergreen Capital Management LLC boosted its holdings in HSBC by 7.0% in the third quarter. Evergreen Capital Management LLC now owns 16,696 shares of the financial services provider’s stock valued at $435,000 after acquiring an additional 1,095 shares during the last quarter. Gallacher Capital Management LLC acquired a new stake in HSBC during the 4th quarter valued at approximately $283,000. Ritholtz Wealth Management raised its holdings in HSBC by 7.6% during the 4th quarter. Ritholtz Wealth Management now owns 34,295 shares of the financial services provider’s stock worth $1,069,000 after purchasing an additional 2,422 shares during the last quarter. Finally, Pzena Investment Management LLC acquired a new position in shares of HSBC in the 4th quarter worth approximately $675,000. Institutional investors and hedge funds own 1.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on HSBC shares. Barclays lifted their target price on shares of HSBC from GBX 840 ($10.45) to GBX 900 ($11.19) in a research note on Wednesday, May 3rd. Royal Bank of Canada boosted their price objective on HSBC from GBX 775 ($9.64) to GBX 800 ($9.95) in a research note on Wednesday, May 10th. JPMorgan Chase & Co. decreased their target price on HSBC from GBX 650 ($8.08) to GBX 630 ($7.84) in a research note on Tuesday, April 18th. Citigroup increased their price target on HSBC from GBX 650 ($8.08) to GBX 730 ($9.08) in a report on Thursday, May 4th. Finally, Berenberg Bank upgraded shares of HSBC from a “hold” rating to a “buy” rating in a research note on Wednesday, May 3rd. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $729.60.

HSBC Stock Up 0.6 %

Shares of NYSE HSBC opened at $37.82 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.98 and a quick ratio of 0.98. HSBC Holdings plc has a 1 year low of $24.77 and a 1 year high of $39.63. The stock has a market capitalization of $151.12 billion, a P/E ratio of 6.78, a P/E/G ratio of 0.29 and a beta of 0.58. The company has a 50-day moving average price of $36.04 and a 200-day moving average price of $34.52.

HSBC (NYSE:HSBC – Get Rating) last issued its quarterly earnings data on Monday, May 1st. The financial services provider reported $2.60 EPS for the quarter, topping the consensus estimate of $1.75 by $0.85. The firm had revenue of $20.17 billion during the quarter, compared to the consensus estimate of $17.10 billion. HSBC had a return on equity of 11.52% and a net margin of 32.20%. On average, equities research analysts forecast that HSBC Holdings plc will post 6.96 EPS for the current fiscal year.

HSBC Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 23rd. Investors of record on Friday, May 12th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.29%. The ex-dividend date is Thursday, May 11th. HSBC’s payout ratio is currently 37.46%.

HSBC Company Profile

(Get Rating)

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.

Read More

Institutional Ownership by Quarter for HSBC (NYSE:HSBC)

Receive News & Ratings for HSBC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HSBC and related companies with MarketBeat.com's FREE daily email newsletter.