BidaskClub Upgrades HSBC Holdings PLC (HSBC) to Strong-Buy

Elias Hubbard
July 17, 2017

The shares were sold at an average price of GBX 302 ($3.91), for a total value of £1,842,200 ($2,386,269.43). Independent Portfolio Consultants Inc.'s holdings in HSBC Holdings PLC were worth $812,000 as of its most recent filing with the SEC.

Several large investors have recently added to or reduced their stakes in HSBC. Banque Pictet & Cie SA purchased a new stake in HSBC Holdings PLC during the first quarter valued at $153,000. Toronto Dominion Bank increased its position in shares of HSBC Holdings PLC by 11.4% in the first quarter. Fisher Asset Management LLC now owns 13,016,816 shares of the financial services provider's stock valued at $531,346,000 after buying an additional 148,181 shares during the last quarter. Rehmann Capital Advisory Group now owns 9,678 shares of the financial services provider's stock valued at $395,000 after buying an additional 319 shares during the last quarter.

As of the end of the quarter Spiderrock Advisors LLC had acquired 1,000 shares growing its holdings by 10.3%. As of quarter end Creative Planning had acquired 3,064 shares growing its position 19.2%.

HSBC Holdings PLC (NYSE HSBC) opened at 48.21 on Thursday. The stock has a 50 day moving average of GBX 682.45 and a 200 day moving average of GBX 668.04.

The P/E ratio is 357.296 and the market value is 188.72B. HSBC Holdings plc has a 1-year low of GBX 473.65 and a 1-year high of GBX 748.90. The company now has an average rating of "Buy" and an average price target of GBX 370.54 ($4.80). This represents an increase of 183% compared to the typical daily volume of 1,480 call options.

The business also recently announced a dividend, which was paid on Wednesday, July 5th. The dividend payment was $0.500 per share for the quarter or $2.00 annualized. Also, insider Mark Parker sold 7,100 shares of the stock in a transaction on Wednesday, May 17th. The value of the company's investment in HSBC Holdings, plc. increased from $15,000 to $21,000 increasing 40.0% quarter to quarter.

COPYRIGHT VIOLATION NOTICE: This story was first published by Chaffey Breeze and is owned by of Chaffey Breeze. "Sells 4,472 Shares of HSBC Holdings PLC (NYSE:HSBC)" was first posted by BNB Daily and is the property of of BNB Daily. If you are accessing this story on another publication, it was stolen and reposted in violation of United States and global copyright legislation. The correct version of this article can be read at Berenberg Bank reaffirmed a "hold" rating and set a GBX 300 ($3.89) price objective on shares of Virgin Money Holdings PLC in a report on Monday, March 20th.

Virgin Money Holdings PLC (LON:VM)'s stock had its "buy" rating reiterated by investment analysts at Jefferies Group LLC in a research note issued on Wednesday, July 5th. J P Morgan Chase & Co lowered Centrica PLC from an overweight rating to an underweight rating in a research report on Thursday, May 11th.

Other equities analysts have also issued research reports about the company. Investec upped their price target on Virgin Money Holdings PLC from GBX 375 ($4.86) to GBX 385 ($4.99) and gave the stock a "buy" rating in a report on Tuesday, March 21st. The company serves banking and financial services, local and central government, defense, education, emergency services, health, police and justice, insurance, life and pensions, retail, telecom and media, transport and utilities sectors.

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