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HSBC Holdings plc (NYSE:HSBC) Shares Purchased by Russell Investments Group Ltd.

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Russell Investments Group Ltd. grew its position in HSBC Holdings plc (NYSE:HSBCGet Rating) by 4.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 309,794 shares of the financial services provider’s stock after acquiring an additional 12,593 shares during the quarter. Russell Investments Group Ltd.’s holdings in HSBC were worth $11,808,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Janney Montgomery Scott LLC raised its stake in shares of HSBC by 18.3% during the first quarter. Janney Montgomery Scott LLC now owns 32,448 shares of the financial services provider’s stock worth $1,110,000 after purchasing an additional 5,028 shares during the last quarter. Advisor Group Holdings Inc. raised its position in HSBC by 20.9% in the first quarter. Advisor Group Holdings Inc. now owns 32,190 shares of the financial services provider’s stock worth $1,090,000 after acquiring an additional 5,569 shares in the last quarter. Thoroughbred Financial Services LLC purchased a new position in HSBC in the first quarter worth $845,000. Envestnet Asset Management Inc. raised its position in HSBC by 141.2% in the first quarter. Envestnet Asset Management Inc. now owns 182,734 shares of the financial services provider’s stock worth $6,253,000 after acquiring an additional 106,979 shares in the last quarter. Finally, JFS Wealth Advisors LLC grew its holdings in HSBC by 352.4% in the first quarter. JFS Wealth Advisors LLC now owns 1,054 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 821 shares during the last quarter. 1.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Royal Bank of Canada upped their target price on HSBC from GBX 550 ($6.74) to GBX 590 ($7.23) in a report on Friday, May 6th. The Goldman Sachs Group lowered HSBC from a “buy” rating to a “neutral” rating in a report on Thursday. BNP Paribas lowered HSBC from an “outperform” rating to a “neutral” rating in a report on Tuesday. JPMorgan Chase & Co. increased their price objective on HSBC from GBX 540 ($6.62) to GBX 550 ($6.74) in a research note on Thursday, May 19th. Finally, StockNews.com raised HSBC from a “hold” rating to a “buy” rating in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $609.86.

HSBC Stock Up 0.3 %

Shares of NYSE:HSBC opened at $32.81 on Friday. The stock’s 50-day moving average price is $32.08 and its two-hundred day moving average price is $33.17. The company has a current ratio of 0.89, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. HSBC Holdings plc has a 12-month low of $24.31 and a 12-month high of $38.61. The firm has a market cap of $133.96 billion, a price-to-earnings ratio of 9.79, a PEG ratio of 0.49 and a beta of 0.51.

HSBC Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Friday, August 19th will be issued a $0.45 dividend. The ex-dividend date is Thursday, August 18th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.49%. HSBC’s dividend payout ratio (DPR) is 37.02%.

HSBC Profile

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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.

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