Cerity Partners LLC Has $1 Million Stock Holdings in HSBC Holdings plc (NYSE:HSBC)

Posted by Defense World Staff on Sep 3rd, 2023

Cerity Partners LLC increased its holdings in shares of HSBC Holdings plc (NYSE:HSBC – Free Report) by 52.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 29,380 shares of the financial services provider’s stock after purchasing an additional 10,112 shares during the period. Cerity Partners LLC’s holdings in HSBC were worth $1,003,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Natixis Advisors L.P. lifted its position in shares of HSBC by 221.2% during the 1st quarter. Natixis Advisors L.P. now owns 563,457 shares of the financial services provider’s stock worth $19,231,000 after purchasing an additional 388,053 shares during the last quarter. American Century Companies Inc. raised its holdings in HSBC by 9.6% in the 1st quarter. American Century Companies Inc. now owns 436,319 shares of the financial services provider’s stock valued at $14,889,000 after acquiring an additional 38,202 shares in the last quarter. Greenleaf Trust raised its holdings in HSBC by 10.3% in the 1st quarter. Greenleaf Trust now owns 9,724 shares of the financial services provider’s stock valued at $332,000 after acquiring an additional 906 shares in the last quarter. Guggenheim Capital LLC acquired a new position in HSBC in the 1st quarter valued at approximately $414,000. Finally, Cooper Financial Group raised its holdings in HSBC by 11.0% in the 1st quarter. Cooper Financial Group now owns 10,448 shares of the financial services provider’s stock valued at $357,000 after acquiring an additional 1,037 shares in the last quarter. Institutional investors and hedge funds own 1.48% of the company’s stock.

HSBC Stock Up 0.6 %

Shares of HSBC opened at $37.55 on Friday. The firm has a market capitalization of $150.46 billion, a price-to-earnings ratio of 6.33, a PEG ratio of 0.25 and a beta of 0.62. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.98 and a current ratio of 0.90. The business’s fifty day moving average price is $39.68 and its two-hundred day moving average price is $37.75. HSBC Holdings plc has a 52 week low of $24.77 and a 52 week high of $42.47.

HSBC (NYSE:HSBC – Get Free Report) last announced its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.20. The firm had revenue of $16.71 billion for the quarter, compared to analyst estimates of $15.87 billion. HSBC had a return on equity of 12.19% and a net margin of 26.43%. On average, analysts predict that HSBC Holdings plc will post 7.07 earnings per share for the current year.

HSBC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 21st. Shareholders of record on Friday, August 11th will be given a $0.50 dividend. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $2.00 dividend on an annualized basis and a yield of 5.33%. HSBC’s payout ratio is 33.39%.

Analysts Set New Price Targets

Several equities analysts have commented on HSBC shares. Berenberg Bank upped their price target on HSBC from GBX 780 ($9.83) to GBX 820 ($10.34) in a report on Thursday, August 3rd. StockNews.com initiated coverage on HSBC in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. CICC Research upgraded HSBC from a “market perform” rating to an “outperform” rating in a research note on Wednesday, June 14th. Royal Bank of Canada upped their price objective on HSBC from GBX 800 ($10.08) to GBX 825 ($10.40) in a research note on Monday, August 14th. Finally, Morgan Stanley upped their price objective on HSBC from GBX 675 ($8.51) to GBX 722 ($9.10) in a research note on Tuesday, August 1st. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, HSBC currently has a consensus rating of “Moderate Buy” and a consensus target price of $746.20.

Get Our Latest Stock Analysis on HSBC

About HSBC

(Free Report)

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.