WCG Wealth Advisors LLC Buys 29,229 Shares of HSBC Holdings plc $HSBC

WCG Wealth Advisors LLC boosted its stake in shares of HSBC Holdings plc (NYSE:HSBC) by 119.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 53,701 shares of the financial services provider’s stock after acquiring an additional 29,229 shares during the period. WCG Wealth Advisors LLC’s holdings in HSBC were worth $4,225,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. CIBC Asset Management Inc grew its position in shares of HSBC by 2.1% during the fourth quarter. CIBC Asset Management Inc now owns 37,529 shares of the financial services provider’s stock valued at $2,918,000 after purchasing an additional 773 shares in the last quarter. Dynasty Wealth Management LLC boosted its stake in HSBC by 5.6% during the fourth quarter. Dynasty Wealth Management LLC now owns 23,254 shares of the financial services provider’s stock valued at $1,829,000 after buying an additional 1,229 shares during the last quarter. Root Financial Partners LLC raised its holdings in shares of HSBC by 46.9% during the 4th quarter. Root Financial Partners LLC now owns 896 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 286 shares in the last quarter. a16z Perennial Management L.P. lifted its position in HSBC by 12.5% during the fourth quarter. a16z Perennial Management L.P. now owns 6,810 shares of the financial services provider’s stock valued at $536,000 after purchasing an additional 758 shares during the last quarter. Finally, Ellevest Inc. grew its position in HSBC by 0.7% in the fourth quarter. Ellevest Inc. now owns 18,219 shares of the financial services provider’s stock worth $1,433,000 after acquiring an additional 131 shares in the last quarter. Hedge funds and other institutional investors own 1.48% of the company’s stock.

Insider Transactions at HSBC

In other HSBC news, insider Daniel Scott Palomaki sold 23,123 shares of HSBC stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $18.11, for a total transaction of $418,757.53. Following the completion of the sale, the insider directly owned 4,973 shares in the company, valued at approximately $90,061.03. The trade was a 82.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.01% of the company’s stock.

HSBC Stock Down 1.1%

HSBC stock opened at $92.59 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.52. HSBC Holdings plc has a 52 week low of $58.14 and a 52 week high of $95.61. The stock has a market capitalization of $318.22 billion, a PE ratio of 15.18, a price-to-earnings-growth ratio of 0.84 and a beta of 0.56. The firm has a 50 day moving average of $89.41 and a 200 day moving average of $83.93.

HSBC (NYSE:HSBC) last posted its quarterly earnings data on Tuesday, March 31st. The financial services provider reported $0.44 EPS for the quarter. HSBC had a net margin of 16.06% and a return on equity of 13.35%. The business had revenue of $19.13 billion during the quarter. Sell-side analysts forecast that HSBC Holdings plc will post 8.55 earnings per share for the current year.

HSBC Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, May 15th will be given a $0.50 dividend. The ex-dividend date is Friday, May 15th. This represents a $2.00 dividend on an annualized basis and a yield of 2.2%. HSBC’s dividend payout ratio is currently 32.46%.

Analysts Set New Price Targets

Several analysts recently weighed in on HSBC shares. The Goldman Sachs Group started coverage on HSBC in a report on Thursday, March 26th. They set a “buy” rating on the stock. Weiss Ratings cut shares of HSBC from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada reissued a “sector perform” rating on shares of HSBC in a research note on Thursday, May 14th. Zacks Research downgraded shares of HSBC from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. Finally, BNP Paribas Exane downgraded HSBC from an “outperform” rating to a “neutral” rating in a report on Tuesday, April 14th. Five analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold”.

More HSBC News

Here are the key news stories impacting HSBC this week:

• Negative Sentiment: HSBC and other Hong Kong financial stocks fell on reports that China is tightening scrutiny of mainland clients opening offshore accounts, raising concerns about reduced fee income and weaker cross-border activity. HSBC, AIA Slump After Report of Hong Kong Bank Account Curbs
• Negative Sentiment: Additional coverage said Hong Kong-listed HSBC shares dropped as China’s tighter capital controls threatened offshore account growth and bank deposit inflows. Hong Kong-listed shares of AIA, HSBC and StanChart fall as China tightens capital controls
• Negative Sentiment: HSBC was also hit by a report saying the new rules could restrict Chinese funds in Hong Kong accounts, adding another headwind for valuation. HSBC, StanChart Shares Slide as New Rules Could Restrict Chinese Funds in Hong Kong Accounts
• Negative Sentiment: Another report said Hong Kong financial stocks tumbled on Friday after tighter offshore checks in China sparked worries about pressure on banks’ balance-sheet growth and related income streams. Hong Kong financial stocks tumble as China tightens offshore checks
• Negative Sentiment: HSBC was also mentioned in a whistleblower allegation involving HSBC Bank USA and possible Sarbanes-Oxley violations, which could add legal and compliance overhang. Whistleblower Accuses HSBC Bank USA of Sarbanes-Oxley Violations
• Neutral Sentiment: HSBC Continental Europe issued post-stabilisation notices for recent bond offerings, which appears routine and is unlikely to affect the equity story. HSBC Continental Europe: Post Stabilisation Notice

About HSBC

HSBC Holdings plc (NYSE: HSBC) is a multinational banking and financial services organization headquartered in London. It traces its origins to the Hongkong and Shanghai Banking Corporation, founded in 1865 to facilitate trade between Europe and Asia, and has since grown into one of the world’s largest banking groups. The company is publicly listed in multiple markets, including the London Stock Exchange, the Hong Kong Stock Exchange and as an American depositary receipt on the New York Stock Exchange.

HSBC operates a universal banking model, serving retail, commercial, corporate and institutional clients.