QRG Capital Management Inc. Has $23.93 Million Holdings in HSBC Holdings plc $HSBC

QRG Capital Management Inc. grew its position in shares of HSBC Holdings plc (NYSE:HSBC) by 7.5% in the 2nd quarter, Holdings Channel reports. The firm owned 393,564 shares of the financial services provider’s stock after acquiring an additional 27,319 shares during the quarter. QRG Capital Management Inc.’s holdings in HSBC were worth $23,925,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Ascent Group LLC increased its position in shares of HSBC by 3.3% during the second quarter. Ascent Group LLC now owns 13,872 shares of the financial services provider’s stock worth $843,000 after buying an additional 448 shares during the period. Ameritas Advisory Services LLC acquired a new stake in HSBC during the 2nd quarter worth about $39,000. EWA LLC lifted its stake in shares of HSBC by 8.4% in the 2nd quarter. EWA LLC now owns 3,820 shares of the financial services provider’s stock valued at $232,000 after purchasing an additional 296 shares during the period. Generali Investments CEE investicni spolecnost a.s. boosted its position in shares of HSBC by 25.0% during the 2nd quarter. Generali Investments CEE investicni spolecnost a.s. now owns 99,500 shares of the financial services provider’s stock valued at $6,049,000 after purchasing an additional 19,884 shares in the last quarter. Finally, Raleigh Capital Management Inc. acquired a new stake in HSBC during the second quarter worth approximately $33,000. 1.48% of the stock is currently owned by institutional investors and hedge funds.

HSBC Price Performance

Shares of NYSE:HSBC opened at $72.15 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. HSBC Holdings plc has a twelve month low of $43.81 and a twelve month high of $72.21. The stock’s 50 day moving average is $66.27 and its 200-day moving average is $60.82. The firm has a market capitalization of $250.38 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 1.58 and a beta of 0.62.

HSBC (NYSE:HSBC) last issued its earnings results on Wednesday, July 30th. The financial services provider reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.33. The company had revenue of $16.90 billion for the quarter, compared to analyst estimates of $16.64 billion. HSBC had a return on equity of 12.73% and a net margin of 13.48%. Sell-side analysts forecast that HSBC Holdings plc will post 6.66 EPS for the current fiscal year.

HSBC Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, August 15th were given a dividend of $0.495 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.98 annualized dividend and a dividend yield of 2.7%. HSBC’s payout ratio is presently 39.21%.

Analysts Set New Price Targets

HSBC has been the topic of a number of research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of HSBC in a report on Saturday, September 27th. BNP Paribas Exane raised shares of HSBC from an “underperform” rating to an “outperform” rating in a research note on Friday, September 5th. Citigroup reaffirmed a “buy” rating on shares of HSBC in a research note on Monday, September 22nd. Finally, BNP Paribas raised shares of HSBC from a “strong sell” rating to a “strong-buy” rating in a research report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock 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.