Jackson Wealth Management LLC Invests $3.56 Million in HSBC Holdings plc $HSBC

by · The Markets Daily

Jackson Wealth Management LLC bought a new stake in shares of HSBC Holdings plc (NYSE:HSBC – Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 50,188 shares of the financial services provider’s stock, valued at approximately $3,562,000.

A number of other large investors have also recently made changes to their positions in the business. Fisher Asset Management LLC raised its position in shares of HSBC by 9.2% during the 2nd quarter. Fisher Asset Management LLC now owns 17,043,371 shares of the financial services provider’s stock valued at $1,036,067,000 after buying an additional 1,430,797 shares in the last quarter. Goldman Sachs Group Inc. raised its position in HSBC by 1.1% during the first quarter. Goldman Sachs Group Inc. now owns 4,726,420 shares of the financial services provider’s stock valued at $271,438,000 after purchasing an additional 53,072 shares during the period. Northern Trust Corp lifted its stake in shares of HSBC by 3.3% in the 1st quarter. Northern Trust Corp now owns 2,873,096 shares of the financial services provider’s stock valued at $165,002,000 after purchasing an additional 91,789 shares during the last quarter. Contrarian Capital Management L.L.C. boosted its holdings in shares of HSBC by 425.4% in the 1st quarter. Contrarian Capital Management L.L.C. now owns 1,265,656 shares of the financial services provider’s stock worth $72,687,000 after purchasing an additional 1,024,780 shares during the period. Finally, American Century Companies Inc. increased its position in shares of HSBC by 11.9% during the 2nd quarter. American Century Companies Inc. now owns 1,143,382 shares of the financial services provider’s stock valued at $69,506,000 after purchasing an additional 121,151 shares during the last quarter. 1.48% of the stock is currently owned by institutional investors.

HSBC Trading Up 0.4%

Shares of HSBC opened at $75.32 on Tuesday. The firm has a market capitalization of $258.72 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 0.94 and a beta of 0.52. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.92 and a quick ratio of 0.92. HSBC Holdings plc has a 1-year low of $45.66 and a 1-year high of $75.92. The company has a 50-day moving average of $70.04 and a 200 day moving average of $66.11.

HSBC (NYSE:HSBC – Get Free Report) last issued its earnings results on Tuesday, October 28th. The financial services provider reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.15. HSBC had a net margin of 12.85% and a return on equity of 12.78%. The business had revenue of $17.90 billion for the quarter, compared to the consensus estimate of $16.78 billion. On average, research analysts expect that HSBC Holdings plc will post 6.66 EPS for the current year.

HSBC Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Friday, November 7th will be given a dividend of $0.50 per share. This is a boost from HSBC’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, November 7th. This represents a $2.00 dividend on an annualized basis and a yield of 2.7%. HSBC’s dividend payout ratio is presently 41.68%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Bank of America raised shares of HSBC from a “neutral” rating to a “buy” rating in a research note on Wednesday, December 10th. Citigroup reaffirmed a “buy” rating on shares of HSBC in a research note on Tuesday, October 21st. BNP Paribas Exane raised shares of HSBC from an “underperform” rating to an “outperform” rating in a research report on Friday, September 5th. Jefferies Financial Group reissued a “hold” rating on shares of HSBC in a research note on Friday, October 10th. Finally, Erste Group Bank raised HSBC from a “hold” rating to a “buy” rating in a research note on Thursday, November 20th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $63.00.

View Our Latest Report 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.

See Also

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