HSBC Holdings plc $HSBC Shares Sold by Ignite Planners LLC

Ignite Planners LLC lowered its stake in shares of HSBC Holdings plc (NYSE:HSBC) by 49.6% during the fourth quarter, Holdings Channel reports. The firm owned 8,278 shares of the financial services provider’s stock after selling 8,136 shares during the period. Ignite Planners LLC’s holdings in HSBC were worth $651,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Measured Wealth Private Client Group LLC acquired a new stake in HSBC during the third quarter worth approximately $26,000. Binnacle Investments Inc grew its position in shares of HSBC by 80.5% during the third quarter. Binnacle Investments Inc now owns 444 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 198 shares during the last quarter. JPL Wealth Management LLC purchased a new position in shares of HSBC during the third quarter worth approximately $41,000. Root Financial Partners LLC purchased a new position in shares of HSBC during the third quarter worth approximately $43,000. Finally, Cornerstone Planning Group LLC grew its position in shares of HSBC by 30.7% during the fourth quarter. Cornerstone Planning Group LLC now owns 498 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 117 shares during the last quarter. Institutional investors and hedge funds own 1.48% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on HSBC shares. BNP Paribas Exane lowered shares of HSBC from an “outperform” rating to a “neutral” rating in a research report on Tuesday, April 14th. Royal Bank Of Canada restated a “sector perform” rating on shares of HSBC in a research report on Thursday, May 14th. Weiss Ratings lowered shares of HSBC from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Zacks Research lowered shares of HSBC from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. Finally, The Goldman Sachs Group started coverage on shares of HSBC in a research report on Thursday, March 26th. They set a “buy” rating on the stock. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $63.00.

Insiders Place Their Bets

In related news, insider Daniel Scott Palomaki sold 23,123 shares of HSBC stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $18.11, for a total value of $418,757.53. Following the transaction, the insider directly owned 4,973 shares in the company, valued at $90,061.03. This trade represents 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 Performance

NYSE:HSBC opened at $91.94 on Friday. The firm’s fifty day moving average price is $86.92 and its 200 day moving average price is $82.47. HSBC Holdings plc has a 1-year low of $58.14 and a 1-year high of $94.79. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market cap of $315.96 billion, a price-to-earnings ratio of 15.07, a price-to-earnings-growth ratio of 0.92 and a beta of 0.56.

HSBC (NYSE:HSBC) last posted its quarterly earnings data on Tuesday, March 31st. The financial services provider reported $0.44 earnings per share for the quarter. HSBC had a net margin of 16.06% and a return on equity of 13.35%. The firm had revenue of $19.13 billion for the quarter. On average, sell-side analysts expect that HSBC Holdings plc will post 8.54 EPS for the current year.

HSBC Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, May 15th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Friday, May 15th. HSBC’s dividend payout ratio (DPR) is 32.46%.

HSBC Company 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.