HSBC Holdings plc (NYSE:HSBC) Shares Sold by Assetmark Inc.

Assetmark Inc. decreased its position in HSBC Holdings plc (NYSE:HSBC) by 90.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 595 shares of the financial services provider’s stock after selling 5,772 shares during the period. Assetmark Inc.’s holdings in HSBC were worth $27,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Pitcairn Co. purchased a new stake in HSBC during the first quarter worth about $567,000. Mediolanum International Funds Ltd acquired a new position in HSBC in the third quarter valued at $139,895,000. Advisors Asset Management Inc. grew its holdings in shares of HSBC by 38.8% during the 1st quarter. Advisors Asset Management Inc. now owns 24,866 shares of the financial services provider’s stock worth $979,000 after purchasing an additional 6,948 shares during the period. QRG Capital Management Inc. increased its position in shares of HSBC by 19.0% in the second quarter. QRG Capital Management Inc. now owns 302,994 shares of the financial services provider’s stock worth $13,180,000 after acquiring an additional 48,366 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in HSBC in the 1st quarter valued at $608,000. Hedge funds and other institutional investors own 1.48% of the company’s stock.

HSBC Stock Down 0.4 %

Shares of NYSE:HSBC opened at $46.29 on Wednesday. HSBC Holdings plc has a 12-month low of $36.93 and a 12-month high of $47.56. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. The firm has a market cap of $101.48 billion, a PE ratio of 7.65 and a beta of 0.56. The company has a fifty day simple moving average of $45.00 and a 200 day simple moving average of $44.06.

HSBC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 8th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, November 8th. This represents a $2.00 annualized dividend and a dividend yield of 4.32%. HSBC’s payout ratio is 32.73%.

Analysts Set New Price Targets

Separately, Dbs Bank raised shares of HSBC to a “strong-buy” rating in a research report on Wednesday, July 31st.

About HSBC

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.