Meritage Portfolio Management Purchases 17,012 Shares of HSBC Holdings plc (NYSE:HSBC)

Meritage Portfolio Management raised its holdings in HSBC Holdings plc (NYSE:HSBC) by 5.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 318,825 shares of the financial services provider’s stock after purchasing an additional 17,012 shares during the quarter. HSBC accounts for approximately 1.0% of Meritage Portfolio Management’s investment portfolio, making the stock its 21st biggest position. Meritage Portfolio Management’s holdings in HSBC were worth $15,769,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of HSBC. AQR Capital Management LLC lifted its holdings in HSBC by 33.9% during the 2nd quarter. AQR Capital Management LLC now owns 54,116 shares of the financial services provider’s stock worth $2,354,000 after buying an additional 13,698 shares during the period. Truist Financial Corp boosted its stake in shares of HSBC by 4.2% in the 2nd quarter. Truist Financial Corp now owns 36,480 shares of the financial services provider’s stock valued at $1,587,000 after purchasing an additional 1,481 shares during the last quarter. Cetera Investment Advisers raised its stake in HSBC by 1.5% during the second quarter. Cetera Investment Advisers now owns 35,222 shares of the financial services provider’s stock worth $1,532,000 after buying an additional 523 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in HSBC during the second quarter valued at $654,000. Finally, SG Americas Securities LLC acquired a new stake in HSBC during the 3rd quarter worth about $594,000. Institutional investors and hedge funds own 1.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft downgraded HSBC from a “buy” rating to a “hold” rating in a report on Monday.

HSBC Trading Up 1.2 %

NYSE:HSBC opened at $51.94 on Wednesday. HSBC Holdings plc has a 12 month low of $36.93 and a 12 month high of $52.99. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $186.01 billion, a price-to-earnings ratio of 8.58, a PEG ratio of 1.39 and a beta of 0.54. The firm has a fifty day simple moving average of $49.38 and a two-hundred day simple moving average of $46.05.

About HSBC

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.