Park Avenue Securities LLC Has $1.24 Million Holdings in HSBC Holdings plc (NYSE:HSBC)

Park Avenue Securities LLC reduced its position in HSBC Holdings plc (NYSE:HSBC) by 16.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,507 shares of the financial services provider’s stock after selling 5,325 shares during the quarter. Park Avenue Securities LLC’s holdings in HSBC were worth $1,243,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of HSBC during the 3rd quarter worth about $594,000. Sanctuary Advisors LLC bought a new position in HSBC during the second quarter worth about $654,000. Orleans Capital Management Corp LA lifted its stake in HSBC by 5.0% during the second quarter. Orleans Capital Management Corp LA now owns 30,555 shares of the financial services provider’s stock worth $1,329,000 after purchasing an additional 1,450 shares during the period. Cetera Investment Advisers boosted its holdings in HSBC by 1.5% during the second quarter. Cetera Investment Advisers now owns 35,222 shares of the financial services provider’s stock valued at $1,532,000 after purchasing an additional 523 shares in the last quarter. Finally, Truist Financial Corp grew its stake in shares of HSBC by 4.2% in the 2nd quarter. Truist Financial Corp now owns 36,480 shares of the financial services provider’s stock valued at $1,587,000 after purchasing an additional 1,481 shares during the period. Institutional investors and hedge funds own 1.48% of the company’s stock.

HSBC Price Performance

Shares of HSBC opened at $43.92 on Wednesday. The firm has a market capitalization of $164.74 billion, a PE ratio of 7.57, a P/E/G ratio of 0.98 and a beta of 0.56. HSBC Holdings plc has a 52-week low of $35.30 and a 52-week high of $46.07. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.96 and a current ratio of 0.89. The stock has a 50 day simple moving average of $43.56 and a 200 day simple moving average of $43.13.

HSBC (NYSE:HSBC) last announced its earnings results on Wednesday, July 31st. The financial services provider reported $1.65 earnings per share for the quarter. HSBC had a net margin of 15.61% and a return on equity of 10.60%. The firm had revenue of $16.54 billion during the quarter. Sell-side analysts predict that HSBC Holdings plc will post 5.74 EPS for the current fiscal year.

HSBC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.55%. The ex-dividend date was Friday, August 16th. HSBC’s payout ratio is 34.14%.

Wall Street Analysts Forecast Growth

Separately, Dbs Bank upgraded HSBC to a “strong-buy” rating in a research report on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, HSBC has a consensus rating of “Hold”.

HSBC Company 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.