Sigma Planning Corp Sells 8,035 Shares of HSBC Holdings plc (NYSE:HSBC)

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Sigma Planning Corp reduced its position in shares of HSBC Holdings plc (NYSE:HSBC) by 62.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,868 shares of the financial services provider’s stock after selling 8,035 shares during the period. Sigma Planning Corp’s holdings in HSBC were worth $203,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in HSBC. Parametric Portfolio Associates LLC raised its stake in shares of HSBC by 5.3% in the first quarter. Parametric Portfolio Associates LLC now owns 3,293,839 shares of the financial services provider’s stock worth $133,664,000 after acquiring an additional 165,254 shares during the last quarter. Aperio Group LLC raised its stake in shares of HSBC by 10.7% in the second quarter. Aperio Group LLC now owns 1,686,184 shares of the financial services provider’s stock worth $70,381,000 after acquiring an additional 163,294 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of HSBC by 20.1% in the fourth quarter. Geode Capital Management LLC now owns 499,248 shares of the financial services provider’s stock worth $20,524,000 after acquiring an additional 83,620 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of HSBC by 12.0% in the first quarter. Envestnet Asset Management Inc. now owns 718,428 shares of the financial services provider’s stock worth $29,154,000 after acquiring an additional 77,085 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of HSBC by 15.9% in the first quarter. JPMorgan Chase & Co. now owns 431,654 shares of the financial services provider’s stock worth $17,515,000 after acquiring an additional 59,345 shares during the last quarter. 2.51% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:HSBC opened at $35.63 on Friday. HSBC Holdings plc has a one year low of $35.60 and a one year high of $45.40. The company has a 50 day moving average of $39.53 and a 200-day moving average of $41.25. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market cap of $146.87 billion, a price-to-earnings ratio of 11.31, a P/E/G ratio of 2.36 and a beta of 0.68.

A number of equities analysts have weighed in on the stock. ValuEngine downgraded shares of HSBC from a “hold” rating to a “sell” rating in a research note on Friday, July 26th. Morgan Stanley cut shares of HSBC from an “overweight” rating to an “equal weight” rating in a research report on Friday, June 21st. Goldman Sachs Group upgraded shares of HSBC from a “neutral” rating to a “buy” rating in a research report on Wednesday, May 22nd. Barclays cut shares of HSBC from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, July 17th. Finally, Jefferies Financial Group cut shares of HSBC from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. HSBC currently has an average rating of “Hold” and an average target price of $43.80.

HSBC Company Profile

HSBC Holdings plc provides banking and financial products and services. The company operates through Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking segments. The Retail Banking and Wealth Management segment offers personal banking products and services, mortgages and loans, credit cards, insurance and investment products, savings products, international services, and wealth solutions and financial planning services, as well as telephone, Internet, and mobile banking services.

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Institutional Ownership by Quarter for HSBC (NYSE:HSBC)

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