HSBC Holdings plc (NYSE:HSBC) Stake Increased by Norden Group LLC

Norden Group LLC Makes Significant Investment in HSBC Holdings plc

In a recent filing with the Securities and Exchange Commission (SEC), Norden Group LLC revealed that it has purchased a new stake in HSBC Holdings plc (NYSE:HSBC). The financial services provider saw Norden Group LLC acquire 5,368 shares of its stock, valued at approximately $211,000.

This investment by Norden Group LLC is just one of many recent modifications made by large investors in HSBC. Advisors Asset Management Inc. increased its holdings by 59.1% in the third quarter, while Morgan Stanley and American Century Companies Inc. also saw boosts in their holdings. Additionally, B. Riley Wealth Advisors Inc. and Foresight Capital Management Advisors Inc. both purchased new stakes in HSBC.

HSBC’s stock performance has been solid, with shares opening at $42.99 on Wednesday. The company has a 12-month low of $35.30 and a high of $45.46. With a market cap of $161.25 billion and a PE ratio of 7.41, HSBC continues to be a strong player in the financial services industry.

In terms of dividends, HSBC recently declared a quarterly dividend of $0.50, with an annualized dividend of $2.00 and a yield of 4.65%. The firm’s dividend payout ratio is currently 34.14%.

Analyst ratings for HSBC have been mixed, with Barclays reiterating an “equal weight” rating and two analysts giving the stock a sell rating. Despite this, the stock has an average rating of “Hold” and a consensus price target of $789.00.

HSBC Holdings plc provides banking and financial services globally, operating through various segments. The company offers retail banking, wealth management, commercial banking, and global banking and markets services.

Overall, HSBC continues to be a strong player in the financial services industry, with significant investments from large investors and a solid stock performance. Investors and analysts alike will be keeping a close eye on the company’s future earnings and growth prospects.