Paradigm Asset Management Co. LLC Lowers Stock Holdings in HSBC Holdings plc $HSBC

Paradigm Asset Management Co. LLC decreased its position in shares of HSBC Holdings plc (NYSE:HSBC) by 99.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 700 shares of the financial services provider’s stock after selling 91,500 shares during the quarter. Paradigm Asset Management Co. LLC’s holdings in HSBC were worth $55,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Wedbush Securities Inc. lifted its stake in shares of HSBC by 101.3% during the 3rd quarter. Wedbush Securities Inc. now owns 26,822 shares of the financial services provider’s stock valued at $1,904,000 after buying an additional 13,495 shares in the last quarter. Foresight Global Investors Inc. purchased a new position in shares of HSBC during the 3rd quarter valued at $12,810,000. American Century Companies Inc. lifted its stake in shares of HSBC by 14.7% during the 3rd quarter. American Century Companies Inc. now owns 1,311,820 shares of the financial services provider’s stock valued at $93,113,000 after buying an additional 168,438 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its stake in shares of HSBC by 63.4% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 49,410 shares of the financial services provider’s stock valued at $3,507,000 after buying an additional 19,176 shares in the last quarter. Finally, Dynasty Wealth Management LLC purchased a new position in shares of HSBC during the 3rd quarter valued at $1,563,000. Hedge funds and other institutional investors own 1.48% of the company’s stock.

Insider Buying and Selling at HSBC

In other news, insider Daniel Scott Palomaki sold 23,123 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $18.11, for a total value of $418,757.53. Following the sale, the insider directly owned 4,973 shares in the company, valued at $90,061.03. The trade was a 82.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.01% of the stock is currently owned by company insiders.

HSBC Stock Up 0.7%

Shares of HSBC stock opened at $90.60 on Thursday. The stock has a market cap of $311.37 billion, a P/E ratio of 14.85, a PEG ratio of 0.91 and a beta of 0.56. HSBC Holdings plc has a 52 week low of $57.85 and a 52 week high of $94.79. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.52. The company’s fifty day simple moving average is $86.24 and its two-hundred day simple moving average is $81.51.

HSBC (NYSE:HSBC) last announced its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $0.44 EPS for the quarter. The business had revenue of $19.13 billion for the quarter. HSBC had a net margin of 16.06% and a return on equity of 13.35%. Analysts predict that HSBC Holdings plc will post 8.51 EPS for the current fiscal year.

HSBC Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, May 15th will be issued a $0.50 dividend. The ex-dividend date is Friday, May 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.2%. HSBC’s payout ratio is 147.21%.

Analyst Ratings Changes

HSBC has been the topic of a number of analyst reports. Weiss Ratings cut shares of HSBC from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Zacks Research cut shares of HSBC from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. BNP Paribas Exane cut shares of HSBC from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 14th. Morgan Stanley began coverage on shares of HSBC in a research note on Wednesday, January 14th. They issued an “equal weight” rating on the stock. Finally, The Goldman Sachs Group began coverage on shares of HSBC in a research note on Thursday, March 26th. They issued a “buy” rating on the stock. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently 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.