O Shaughnessy Asset Management LLC Buys 52,425 Shares of HSBC Holdings plc $HSBC

O Shaughnessy Asset Management LLC increased its stake in shares of HSBC Holdings plc (NYSE:HSBC) by 9.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 590,663 shares of the financial services provider’s stock after purchasing an additional 52,425 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in HSBC were worth $46,467,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Cornerstone Planning Group LLC grew its stake in shares of HSBC by 30.7% during the fourth quarter. Cornerstone Planning Group LLC now owns 498 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 117 shares during the last quarter. Lester Murray Antman dba SimplyRich boosted its stake in shares of HSBC by 1.0% in the 4th quarter. Lester Murray Antman dba SimplyRich now owns 12,445 shares of the financial services provider’s stock valued at $979,000 after purchasing an additional 123 shares during the last quarter. Ellevest Inc. boosted its stake in shares of HSBC by 0.7% in the 4th quarter. Ellevest Inc. now owns 18,219 shares of the financial services provider’s stock valued at $1,433,000 after purchasing an additional 131 shares during the last quarter. Checchi Capital Advisers LLC boosted its stake in shares of HSBC by 0.5% in the 4th quarter. Checchi Capital Advisers LLC now owns 26,554 shares of the financial services provider’s stock valued at $2,089,000 after purchasing an additional 144 shares during the last quarter. Finally, Net Worth Advisory Group boosted its stake in shares of HSBC by 2.3% in the 4th quarter. Net Worth Advisory Group now owns 6,466 shares of the financial services provider’s stock valued at $509,000 after purchasing an additional 146 shares during the last quarter. 1.48% of the stock is owned by institutional investors.

HSBC Stock Performance

Shares of NYSE:HSBC opened at $90.85 on Monday. The company has a market capitalization of $312.22 billion, a price-to-earnings ratio of 14.89, a P/E/G ratio of 0.81 and a beta of 0.56. The firm’s 50 day simple moving average is $89.60 and its 200 day simple moving average is $84.06. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.92 and a quick ratio of 0.92. HSBC Holdings plc has a fifty-two week low of $58.14 and a fifty-two week high of $95.61.

HSBC (NYSE:HSBC) last announced its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $0.44 earnings per share 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 for the quarter. As a group, sell-side analysts forecast that HSBC Holdings plc will post 8.55 earnings per share for the current year.

HSBC Cuts Dividend

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

Insider Activity

In other 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 value of $418,757.53. Following the sale, the insider directly owned 4,973 shares in the company, valued at $90,061.03. This trade represents a 82.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.01% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of HSBC in a research note on Thursday, May 14th. BNP Paribas Exane lowered shares of HSBC from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 14th. Weiss Ratings lowered shares of HSBC from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Zacks Research lowered shares of HSBC from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Finally, The Goldman Sachs Group assumed coverage on shares of HSBC in a research note on Thursday, March 26th. They issued a “buy” rating on the stock. Five equities research 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.com, the stock currently has an average rating of “Hold”.

Key Headlines Impacting HSBC

Here are the key news stories impacting HSBC this week:

• Negative Sentiment: Reports that Hong Kong banks may face stricter scrutiny on mainland Chinese clients sparked concern over reduced account growth, cross-border deposits, and fee revenue for HSBC. HSBC, AIA Slump After Report of Hong Kong Bank Account Curbs
• Negative Sentiment: HSBC was also mentioned in connection with a whistleblower allegation against HSBC Bank USA involving possible Sarbanes-Oxley violations, adding another legal and compliance overhang. Whistleblower Accuses HSBC Bank USA of Sarbanes-Oxley Violations
• Neutral Sentiment: Citi said the recent decline in HSBC and Standard Chartered may be excessive, suggesting the market reaction could be overdone if the account-opening concerns prove limited. HSBC and StanChart sell-off overdone, says Citi
• Neutral Sentiment: HSBC also appeared in routine capital-markets notices from its Continental Europe unit, which are not likely to materially affect the stock. HSBC Continental Europe: Post Stabilisation Notice
• Neutral Sentiment: HSBC Research also published a macro view on India’s potential need for dollar inflows to support the rupee, which is informative but not a direct earnings driver for the bank’s shares. India may need up to $70 bn in inflows as policymakers weigh rupee-support package: HSBC

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.