Profund Advisors LLC Has $677,000 Position in HSBC Holdings plc (NYSE:HSBC)

Profund Advisors LLC trimmed its position in shares of HSBC Holdings plc (NYSE:HSBC) by 16.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,564 shares of the financial services provider’s stock after selling 3,137 shares during the period. Profund Advisors LLC’s holdings in HSBC were worth $677,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Drive Wealth Management LLC boosted its position in shares of HSBC by 4.5% during the 2nd quarter. Drive Wealth Management LLC now owns 6,364 shares of the financial services provider’s stock valued at $277,000 after acquiring an additional 273 shares in the last quarter. Crumly & Associates Inc. boosted its holdings in HSBC by 1.8% during the second quarter. Crumly & Associates Inc. now owns 15,970 shares of the financial services provider’s stock valued at $695,000 after purchasing an additional 287 shares in the last quarter. PDS Planning Inc grew its stake in shares of HSBC by 2.4% in the 1st quarter. PDS Planning Inc now owns 13,335 shares of the financial services provider’s stock valued at $525,000 after purchasing an additional 312 shares during the period. 180 Wealth Advisors LLC lifted its position in shares of HSBC by 5.9% during the 2nd quarter. 180 Wealth Advisors LLC now owns 6,036 shares of the financial services provider’s stock worth $262,000 after buying an additional 338 shares during the period. Finally, Lester Murray Antman dba SimplyRich boosted its stake in HSBC by 5.7% in the 1st quarter. Lester Murray Antman dba SimplyRich now owns 6,507 shares of the financial services provider’s stock valued at $257,000 after buying an additional 349 shares in the last quarter. Institutional investors and hedge funds own 1.48% of the company’s stock.

Analyst Ratings Changes

Separately, Dbs Bank raised HSBC to a “strong-buy” rating in a report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

HSBC Stock Up 0.3 %

Shares of HSBC opened at $45.22 on Wednesday. The company has a market capitalization of $169.60 billion, a P/E ratio of 7.80, a PEG ratio of 0.94 and a beta of 0.56. HSBC Holdings plc has a one year low of $35.30 and a one year high of $45.53. The business’s 50 day simple moving average is $43.17 and its 200-day simple moving average is $42.69. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.89 and a quick ratio of 0.96.

HSBC (NYSE:HSBC) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.65 EPS for the quarter. HSBC had a return on equity of 10.60% and a net margin of 15.61%. The company had revenue of $16.54 billion for the quarter. As a group, sell-side analysts predict that HSBC Holdings plc will post 5.74 EPS for the current fiscal year.

HSBC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 16th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.42%. The ex-dividend date is Friday, August 16th. HSBC’s dividend payout ratio is 34.14%.

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.