Envestnet Portfolio Solutions Inc. Sells 1,866 Shares of HSBC Holdings plc (NYSE:HSBC)

Envestnet Portfolio Solutions Inc. lowered its stake in shares of HSBC Holdings plc (NYSE:HSBC) by 11.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 14,241 shares of the financial services provider’s stock after selling 1,866 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in HSBC were worth $704,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of HSBC by 110.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 15,901 shares of the financial services provider’s stock worth $719,000 after acquiring an additional 8,340 shares during the last quarter. Advisors Asset Management Inc. lifted its position in HSBC by 19.5% during the third quarter. Advisors Asset Management Inc. now owns 37,094 shares of the financial services provider’s stock valued at $1,676,000 after purchasing an additional 6,056 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in HSBC by 14.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 215,748 shares of the financial services provider’s stock valued at $9,750,000 after purchasing an additional 27,495 shares during the period. Cerity Partners LLC increased its position in HSBC by 65.7% in the third quarter. Cerity Partners LLC now owns 92,136 shares of the financial services provider’s stock worth $4,164,000 after buying an additional 36,543 shares in the last quarter. Finally, Larson Financial Group LLC lifted its position in shares of HSBC by 138.5% during the 3rd quarter. Larson Financial Group LLC now owns 775 shares of the financial services provider’s stock valued at $35,000 after buying an additional 450 shares in the last quarter. 1.48% of the stock is currently owned by institutional investors.

HSBC Stock Up 0.4 %

Shares of NYSE HSBC opened at $58.08 on Tuesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.96 and a current ratio of 0.88. The stock has a 50 day moving average price of $55.04 and a 200 day moving average price of $49.37. The firm has a market capitalization of $206.84 billion, a price-to-earnings ratio of 9.37, a PEG ratio of 1.05 and a beta of 0.51. HSBC Holdings plc has a 52-week low of $38.94 and a 52-week high of $61.88.

HSBC (NYSE:HSBC) last announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.04. HSBC had a return on equity of 12.20% and a net margin of 16.17%. The business had revenue of $11.56 billion for the quarter, compared to the consensus estimate of $13.79 billion. Sell-side analysts expect that HSBC Holdings plc will post 6.66 earnings per share for the current year.

HSBC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, March 7th will be paid a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a yield of 12.40%. The ex-dividend date is Friday, March 7th. HSBC’s dividend payout ratio (DPR) is presently 115.81%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Barclays upgraded shares of HSBC from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft cut HSBC from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. UBS Group reissued a “neutral” rating on shares of HSBC in a report on Thursday, March 6th. StockNews.com raised shares of HSBC from a “sell” rating to a “hold” rating in a report on Tuesday, March 11th. Finally, Royal Bank of Canada reissued a “sector perform” rating on shares of HSBC in a report on Monday, February 3rd. Four analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

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.