Foresight Global Investors Inc. Makes New $12.81 Million Investment in HSBC Holdings plc $HSBC

Foresight Global Investors Inc. purchased a new stake in HSBC Holdings plc (NYSE:HSBC) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 180,475 shares of the financial services provider’s stock, valued at approximately $12,810,000. HSBC makes up approximately 7.6% of Foresight Global Investors Inc.’s investment portfolio, making the stock its 6th largest holding.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Fisher Asset Management LLC grew its stake in shares of HSBC by 9.2% during the second quarter. Fisher Asset Management LLC now owns 17,043,371 shares of the financial services provider’s stock worth $1,036,067,000 after buying an additional 1,430,797 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of HSBC by 160.9% in the second quarter. JPMorgan Chase & Co. now owns 502,200 shares of the financial services provider’s stock valued at $30,529,000 after buying an additional 309,738 shares during the period. Dimensional Fund Advisors LP boosted its position 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. American Century Companies Inc. lifted its holdings in shares of HSBC by 14.7% during the third quarter. American Century Companies Inc. now owns 1,311,820 shares of the financial services provider’s stock worth $93,113,000 after purchasing an additional 168,438 shares during the period. Finally, Bank of Montreal Can grew its stake in shares of HSBC by 175.6% in the second quarter. Bank of Montreal Can now owns 209,666 shares of the financial services provider’s stock worth $12,746,000 after purchasing an additional 133,591 shares during the last quarter. Institutional investors own 1.48% of the company’s stock.

HSBC Stock Performance

HSBC opened at $85.77 on Friday. The company has a market cap of $294.62 billion, a price-to-earnings ratio of 14.18, a PEG ratio of 0.95 and a beta of 0.50. The company’s fifty day moving average price is $85.38 and its two-hundred day moving average price is $75.19. HSBC Holdings plc has a 1-year low of $45.66 and a 1-year high of $94.79. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.62.

HSBC (NYSE:HSBC) last posted its earnings results on Wednesday, February 25th. The financial services provider reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $1.60 by ($1.23). The business had revenue of $17.72 billion during the quarter, compared to analyst estimates of $17.01 billion. HSBC had a return on equity of 13.10% and a net margin of 16.07%. On average, analysts expect that HSBC Holdings plc will post 6.66 EPS for the current fiscal year.

HSBC Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Friday, March 13th will be given a dividend of $2.25 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $9.00 annualized dividend and a dividend yield of 10.5%. This is an increase from HSBC’s previous quarterly dividend of $0.50. HSBC’s payout ratio is 32.73%.

Wall Street Analysts Forecast Growth

HSBC has been the topic of several recent research reports. Citigroup reaffirmed a “buy” rating on shares of HSBC in a report on Friday, January 9th. Keefe, Bruyette & Woods upgraded shares of HSBC from a “hold” rating to a “moderate buy” rating in a report on Wednesday, December 17th. Erste Group Bank upgraded HSBC from a “hold” rating to a “buy” rating in a report on Thursday, November 20th. Morgan Stanley started coverage on HSBC in a research report on Wednesday, January 14th. They set an “equal weight” rating on the stock. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of HSBC in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $63.00.

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.