Spire Wealth Management Cuts Holdings in HSBC Holdings plc (NYSE:HSBC)

Spire Wealth Management trimmed its position in HSBC Holdings plc (NYSE:HSBCFree Report) by 18.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,498 shares of the financial services provider’s stock after selling 350 shares during the period. Spire Wealth Management’s holdings in HSBC were worth $59,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Milestone Investment Advisors LLC acquired a new position in shares of HSBC in the 3rd quarter worth approximately $26,000. Benjamin F. Edwards & Company Inc. acquired a new position in shares of HSBC in the 2nd quarter worth approximately $27,000. Assetmark Inc. acquired a new position in shares of HSBC in the 3rd quarter worth approximately $30,000. EverSource Wealth Advisors LLC lifted its holdings in shares of HSBC by 231.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 816 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 570 shares during the last quarter. Finally, Paradigm Asset Management Co. LLC acquired a new position in shares of HSBC in the 3rd quarter worth approximately $39,000. 1.48% of the stock is currently owned by institutional investors and hedge funds.

HSBC Trading Down 0.6 %

Shares of NYSE:HSBC opened at $39.03 on Monday. HSBC Holdings plc has a 52 week low of $32.40 and a 52 week high of $42.47. The company’s 50 day moving average is $39.46 and its two-hundred day moving average is $38.97. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.47. The company has a market cap of $149.46 billion, a PE ratio of 5.66, a P/E/G ratio of 0.33 and a beta of 0.63.

Analyst Ratings Changes

Several equities analysts have recently commented on HSBC shares. Societe Generale lowered shares of HSBC from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. BNP Paribas lowered shares of HSBC from a “neutral” rating to an “underperform” rating in a report on Tuesday, January 16th. Finally, Royal Bank of Canada lowered shares of HSBC from an “outperform” rating to a “sector perform” rating in a report on Wednesday, November 22nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $811.00.

View Our Latest Analysis on HSBC

About HSBC

(Free Report)

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.

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Institutional Ownership by Quarter for HSBC (NYSE:HSBC)

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