HSBC Holdings plc (NYSE:HSBC) Position Lessened by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. lowered its stake in shares of HSBC Holdings plc (NYSE:HSBC) by 14.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,190 shares of the financial services provider’s stock after selling 7,836 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in HSBC were worth $1,857,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in HSBC. Stifel Financial Corp boosted its position in shares of HSBC by 27.4% during the third quarter. Stifel Financial Corp now owns 45,547 shares of the financial services provider’s stock worth $1,797,000 after buying an additional 9,790 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of HSBC by 6.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,216 shares of the financial services provider’s stock worth $324,000 after purchasing an additional 464 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in shares of HSBC during the third quarter valued at $3,239,000. Glenmede Trust Co. NA increased its stake in shares of HSBC by 9.3% during the third quarter. Glenmede Trust Co. NA now owns 20,432 shares of the financial services provider’s stock valued at $806,000 after acquiring an additional 1,743 shares during the period. Finally, Advisors Asset Management Inc. raised its holdings in HSBC by 59.1% during the third quarter. Advisors Asset Management Inc. now owns 15,074 shares of the financial services provider’s stock worth $595,000 after purchasing an additional 5,597 shares in the last quarter. 1.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Barclays reiterated an “equal weight” rating on shares of HSBC in a research report on Wednesday, March 27th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $761.75.

HSBC Trading Down 0.4 %

NYSE:HSBC opened at $43.90 on Friday. The stock has a fifty day simple moving average of $44.03 and a 200 day simple moving average of $41.08. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $164.66 billion, a price-to-earnings ratio of 7.57, a price-to-earnings-growth ratio of 1.05 and a beta of 0.58. HSBC Holdings plc has a 1-year low of $35.30 and a 1-year high of $45.46.

HSBC (NYSE:HSBC) last announced its earnings results on Tuesday, April 30th. The financial services provider reported $1.70 EPS for the quarter. HSBC had a net margin of 16.13% and a return on equity of 10.80%. The company had revenue of $20.75 billion during the quarter. Sell-side analysts forecast that HSBC Holdings plc will post 6.35 earnings per share for the current year.

HSBC Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, May 10th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.56%. The ex-dividend date of this dividend was Thursday, May 9th. HSBC’s dividend payout ratio (DPR) is currently 34.14%.

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.