QRG Capital Management Inc. Purchases 7,448 Shares of HSBC Holdings plc (NYSE:HSBC)

QRG Capital Management Inc. raised its position in shares of HSBC Holdings plc (NYSE:HSBC) by 2.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 310,442 shares of the financial services provider’s stock after acquiring an additional 7,448 shares during the period. QRG Capital Management Inc.’s holdings in HSBC were worth $14,029,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Family Firm Inc. bought a new position in shares of HSBC in the second quarter worth about $36,000. RFP Financial Group LLC grew its holdings in shares of HSBC by 126.1% in the first quarter. RFP Financial Group LLC now owns 1,031 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 575 shares during the last quarter. Ridgewood Investments LLC bought a new position in shares of HSBC in the second quarter worth about $47,000. Fifth Third Bancorp lifted its stake in HSBC by 128.4% in the second quarter. Fifth Third Bancorp now owns 1,361 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 765 shares during the period. Finally, Allworth Financial LP lifted its stake in HSBC by 40.9% in the third quarter. Allworth Financial LP now owns 1,367 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 397 shares during the period. Institutional investors own 1.48% of the company’s stock.

HSBC Stock Performance

HSBC stock opened at $46.64 on Tuesday. The firm has a market cap of $102.26 billion, a price-to-earnings ratio of 7.71 and a beta of 0.56. The firm has a 50-day simple moving average of $44.54 and a two-hundred day simple moving average of $43.80. HSBC Holdings plc has a one year low of $36.63 and a one year high of $47.26. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.96 and a current ratio of 0.96.

HSBC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 8th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.00 annualized dividend and a yield of 4.29%. HSBC’s dividend payout ratio (DPR) is presently 32.73%.

Wall Street Analysts Forecast Growth

Separately, Dbs Bank raised shares of HSBC to a “strong-buy” rating in a research note on Wednesday, July 31st.

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.