CIBC Asset Management Inc Reduces Holdings in HSBC Holdings plc (HSBC)

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CIBC Asset Management Inc decreased its position in shares of HSBC Holdings plc (NYSE:HSBC) by 2.9% during the 3rd quarter, Holdings Channel reports. The firm owned 69,581 shares of the financial services provider’s stock after selling 2,079 shares during the quarter. CIBC Asset Management Inc’s holdings in HSBC were worth $3,061,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the business. Fisher Asset Management LLC grew its holdings in shares of HSBC by 3.0% during the third quarter. Fisher Asset Management LLC now owns 15,726,602 shares of the financial services provider’s stock worth $691,813,000 after buying an additional 463,230 shares during the last quarter. Ferguson Wellman Capital Management Inc. purchased a new position in shares of HSBC during the second quarter worth about $8,939,000. Northern Trust Corp grew its holdings in shares of HSBC by 4.1% during the second quarter. Northern Trust Corp now owns 4,367,607 shares of the financial services provider’s stock worth $205,888,000 after buying an additional 173,934 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of HSBC by 626.6% during the second quarter. SG Americas Securities LLC now owns 112,605 shares of the financial services provider’s stock worth $5,308,000 after buying an additional 97,107 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of HSBC by 49.9% during the second quarter. Envestnet Asset Management Inc. now owns 267,373 shares of the financial services provider’s stock worth $12,603,000 after buying an additional 89,037 shares during the last quarter. 2.56% of the stock is currently owned by institutional investors.

Shares of NYSE:HSBC opened at $41.93 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market capitalization of $167.58 billion, a P/E ratio of 21.00, a PEG ratio of 1.90 and a beta of 0.78. HSBC Holdings plc has a 52 week low of $38.23 and a 52 week high of $55.89.

HSBC (NYSE:HSBC) last announced its quarterly earnings data on Monday, October 29th. The financial services provider reported $0.95 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.95. The firm had revenue of $13.84 billion during the quarter. On average, sell-side analysts anticipate that HSBC Holdings plc will post 3.67 earnings per share for the current fiscal year.

A number of equities analysts recently issued reports on the company. Zacks Investment Research lowered HSBC from a “hold” rating to a “sell” rating in a report on Tuesday, October 23rd. Royal Bank of Canada downgraded shares of HSBC from a “sector perform” rating to an “underperform” rating in a research report on Tuesday, October 23rd. Citigroup downgraded shares of HSBC from a “buy” rating to a “neutral” rating in a research report on Monday, October 22nd. Credit Suisse Group upgraded shares of HSBC from an “underperform” rating to a “neutral” rating in a research report on Thursday, September 20th. Finally, Keefe, Bruyette & Woods upgraded shares of HSBC from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 11th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold”.

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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.

Further Reading: Return on Investment (ROI)

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Institutional Ownership by Quarter for HSBC (NYSE:HSBC)

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