Meritage Portfolio Management Has $15.77 Million Stock Position in HSBC Holdings plc (NYSE:HSBC)

Meritage Portfolio Management increased its holdings in HSBC Holdings plc (NYSE:HSBC) by 5.6% during the fourth quarter, HoldingsChannel reports. The fund owned 318,825 shares of the financial services provider’s stock after acquiring an additional 17,012 shares during the quarter. HSBC accounts for about 1.0% of Meritage Portfolio Management’s investment portfolio, making the stock its 21st biggest holding. Meritage Portfolio Management’s holdings in HSBC were worth $15,769,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Mediolanum International Funds Ltd purchased a new stake in shares of HSBC during the third quarter valued at approximately $139,895,000. FMR LLC raised its stake in shares of HSBC by 44.3% during the 3rd quarter. FMR LLC now owns 2,442,205 shares of the financial services provider’s stock worth $110,363,000 after purchasing an additional 749,759 shares during the period. Crossmark Global Holdings Inc. boosted its holdings in shares of HSBC by 2.8% in the 4th quarter. Crossmark Global Holdings Inc. now owns 514,642 shares of the financial services provider’s stock worth $25,454,000 after buying an additional 14,095 shares during the last quarter. QRG Capital Management Inc. grew its position in HSBC by 2.5% during the third quarter. QRG Capital Management Inc. now owns 310,442 shares of the financial services provider’s stock valued at $14,029,000 after buying an additional 7,448 shares during the period. Finally, Creative Planning increased its holdings in HSBC by 9.4% during the third quarter. Creative Planning now owns 222,092 shares of the financial services provider’s stock worth $10,036,000 after buying an additional 19,165 shares during the last quarter. Institutional investors and hedge funds own 1.48% of the company’s stock.

HSBC Stock Up 1.2 %

HSBC opened at $51.94 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.96. HSBC Holdings plc has a one year low of $36.93 and a one year high of $52.99. The firm has a market capitalization of $186.01 billion, a P/E ratio of 8.58, a price-to-earnings-growth ratio of 1.39 and a beta of 0.54. The company has a fifty day moving average price of $49.38 and a 200-day moving average price of $46.05.

Analyst Ratings Changes

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

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.