Assetmark Inc. Reduces Holdings in HSBC Holdings plc (NYSE:HSBC)

Assetmark Inc. decreased its holdings in shares of HSBC Holdings plc (NYSE:HSBC) by 90.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 595 shares of the financial services provider’s stock after selling 5,772 shares during the quarter. Assetmark Inc.’s holdings in HSBC were worth $27,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in HSBC. Family Firm Inc. purchased a new position in HSBC in the second quarter valued at about $36,000. Ridgewood Investments LLC purchased a new position in shares of HSBC in the second quarter worth about $47,000. Fifth Third Bancorp boosted its stake in HSBC by 128.4% during the second quarter. Fifth Third Bancorp now owns 1,361 shares of the financial services provider’s stock worth $59,000 after buying an additional 765 shares during the last quarter. Allworth Financial LP grew its stake in shares of HSBC by 40.9% in the 3rd quarter. Allworth Financial LP now owns 1,367 shares of the financial services provider’s stock valued at $62,000 after buying an additional 397 shares during the period. Finally, Addison Advisors LLC grew its holdings in shares of HSBC by 39.0% during the 2nd quarter. Addison Advisors LLC now owns 1,458 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 409 shares during the period. Hedge funds and other institutional investors own 1.48% of the company’s stock.

HSBC Stock Performance

Shares of HSBC stock opened at $46.29 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. HSBC Holdings plc has a 52 week low of $36.93 and a 52 week high of $47.56. The firm has a market capitalization of $101.48 billion, a P/E ratio of 7.65 and a beta of 0.56. The firm’s 50 day moving average is $45.00 and its two-hundred day moving average is $44.06.

HSBC Announces Dividend

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

Wall Street Analysts Forecast Growth

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

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.