Ritholtz Wealth Management Has $14.42 Million Stock Holdings in HSBC Holdings plc $HSBC

Ritholtz Wealth Management increased its position in shares of HSBC Holdings plc (NYSE:HSBC) by 8.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 174,773 shares of the financial services provider’s stock after acquiring an additional 14,013 shares during the quarter. Ritholtz Wealth Management’s holdings in HSBC were worth $14,417,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Morgan Stanley raised its holdings in HSBC by 15.3% in the fourth quarter. Morgan Stanley now owns 7,483,883 shares of the financial services provider’s stock worth $588,757,000 after purchasing an additional 993,473 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in shares of HSBC by 1,272.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 909,464 shares of the financial services provider’s stock valued at $71,548,000 after buying an additional 843,186 shares during the period. Clearbridge Investments LLC increased its position in shares of HSBC by 77.0% in the 4th quarter. Clearbridge Investments LLC now owns 1,443,716 shares of the financial services provider’s stock valued at $113,577,000 after buying an additional 627,857 shares in the last quarter. Fisher Asset Management LLC raised its stake in HSBC by 2.3% during the 4th quarter. Fisher Asset Management LLC now owns 17,800,748 shares of the financial services provider’s stock worth $1,400,385,000 after buying an additional 402,288 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in HSBC by 1.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 10,575,644 shares of the financial services provider’s stock worth $750,659,000 after buying an additional 185,073 shares during the period. Institutional investors own 1.48% of the company’s stock.

HSBC Trading Down 1.9%

NYSE HSBC opened at $93.79 on Thursday. HSBC Holdings plc has a 52 week low of $59.92 and a 52 week high of $96.90. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.92 and a current ratio of 0.92. The stock’s 50 day moving average price is $91.66 and its two-hundred day moving average price is $86.15. The stock has a market capitalization of $322.34 billion, a price-to-earnings ratio of 15.38, a PEG ratio of 0.85 and a beta of 0.56.

HSBC (NYSE:HSBC) last issued its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $0.44 earnings per share for the quarter. The company had revenue of $19.12 billion during the quarter. HSBC had a net margin of 16.06% and a return on equity of 13.35%. As a group, analysts anticipate that HSBC Holdings plc will post 8.6 earnings per share for the current fiscal year.

HSBC Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, May 15th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $2.00 annualized dividend and a yield of 2.1%. HSBC’s payout ratio is 32.46%.

Key HSBC News

Here are the key news stories impacting HSBC this week:

• Positive Sentiment: HSBC continued expanding its digital cash-management and payments footprint, including rolling out TradeCash in Singapore and extending its Orion blockchain network to support real-time dirham liquidity flows in the UAE, which highlights growing adoption of its transaction-banking platform. HSBC rolls out TradeCash in Singapore
• Positive Sentiment: Reports that HSBC is expanding office space in Buffalo suggest continued investment in its operating footprint, and the stock had recently been trading near new highs, signaling generally constructive sentiment around the name. HSBC signs 10-year lease for more office space as it expands Buffalo presence
• Positive Sentiment: Several articles pointed to HSBC’s push into AI and digital wealth tools, including survey results showing affluent clients are adopting AI for investing and commentary that HSBC is pursuing AI integration with Google, which may support longer-term efficiency and product innovation. HSBC Holdings plc (HSBC) is a Top UK Dividend Stock Pursuing AI Integration with Google
• Neutral Sentiment: HSBC also appeared in market commentary on macro trends, including a view that U.S. exceptionalism may be fading and a separate report that India’s private-sector growth slowed, but these were more about economic conditions than direct company-specific fundamentals. US exceptionalism nearing expiration date, HSBC’s Kettner says
• Negative Sentiment: Offsetting the growth headlines, HSBC faced negative press around a formal investigation into its Swiss unit over a reported embezzlement scandal, while another story said job cuts are increasing restructuring costs, both of which could pressure sentiment. How HSBC ended up at the centre of a $330mn embezzlement scandal

Wall Street Analyst Weigh In

HSBC has been the subject of a number of research analyst reports. Weiss Ratings cut HSBC from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Zacks Research lowered HSBC from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of HSBC in a research report on Tuesday. Royal Bank Of Canada reissued a “sector perform” rating on shares of HSBC in a research note on Thursday, May 14th. Finally, The Goldman Sachs Group assumed coverage on shares of HSBC in a report on Thursday, March 26th. They set a “buy” rating on the stock. Five equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold”.

Insider Activity at HSBC

In other news, insider Daniel Scott Palomaki sold 23,123 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $18.11, for a total transaction of $418,757.53. Following the completion of the transaction, the insider directly owned 4,973 shares in the company, valued at $90,061.03. This represents a 82.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.01% of the stock is currently owned by corporate insiders.

HSBC Profile

HSBC Holdings plc (NYSE: HSBC) is a multinational banking and financial services organization headquartered in London. It traces its origins to the Hongkong and Shanghai Banking Corporation, founded in 1865 to facilitate trade between Europe and Asia, and has since grown into one of the world’s largest banking groups. The company is publicly listed in multiple markets, including the London Stock Exchange, the Hong Kong Stock Exchange and as an American depositary receipt on the New York Stock Exchange.

HSBC operates a universal banking model, serving retail, commercial, corporate and institutional clients.