Foresight Capital Management Advisors Inc. Has $1.61 Million Stake in HSBC Holdings plc $HSBC

Foresight Capital Management Advisors Inc. reduced its position in shares of HSBC Holdings plc (NYSE:HSBC) by 3.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,498 shares of the financial services provider’s stock after selling 1,083 shares during the period. Foresight Capital Management Advisors Inc.’s holdings in HSBC were worth $1,611,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Goldman Sachs Group Inc. boosted its position in HSBC by 1.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,726,420 shares of the financial services provider’s stock worth $271,438,000 after acquiring an additional 53,072 shares during the last quarter. Belpointe Asset Management LLC bought a new position in HSBC in the first quarter valued at $391,000. Acadian Asset Management LLC increased its stake in HSBC by 254.2% in the 1st quarter. Acadian Asset Management LLC now owns 23,718 shares of the financial services provider’s stock valued at $1,362,000 after buying an additional 17,021 shares during the last quarter. Bridgewater Advisors Inc. bought a new stake in HSBC during the 1st quarter worth about $443,000. Finally, Atlas Capital Advisors Inc. boosted its stake in shares of HSBC by 501.3% during the 1st quarter. Atlas Capital Advisors Inc. now owns 12,032 shares of the financial services provider’s stock worth $691,000 after buying an additional 10,031 shares during the last quarter. Institutional investors and hedge funds own 1.48% of the company’s stock.

HSBC Stock Performance

Shares of NYSE HSBC opened at $71.49 on Tuesday. HSBC Holdings plc has a 12 month low of $43.81 and a 12 month high of $72.21. The stock has a 50 day moving average of $66.41 and a 200-day moving average of $60.95. The company has a current ratio of 0.86, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $248.11 billion, a P/E ratio of 14.16, a P/E/G ratio of 1.61 and a beta of 0.62.

HSBC (NYSE:HSBC) last announced its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.33. HSBC had a return on equity of 12.73% and a net margin of 13.48%.The business had revenue of $16.90 billion during the quarter, compared to the consensus estimate of $16.64 billion. As a group, equities research analysts predict that HSBC Holdings plc will post 6.66 EPS for the current year.

HSBC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, August 15th were paid a $0.495 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.98 dividend on an annualized basis and a yield of 2.8%. HSBC’s dividend payout ratio is 39.21%.

Analyst Ratings Changes

A number of research firms recently issued reports on HSBC. Weiss Ratings reaffirmed a “hold (c)” rating on shares of HSBC in a research report on Saturday, September 27th. BNP Paribas raised HSBC from a “strong sell” rating to a “strong-buy” rating in a research report on Friday, September 5th. Citigroup reissued a “buy” rating on shares of HSBC in a report on Monday, September 22nd. Finally, BNP Paribas Exane upgraded shares of HSBC from an “underperform” rating to an “outperform” rating in a report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, HSBC presently has an average rating of “Moderate Buy” and a consensus price target of $63.00.

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.