Hsbc Holdings PLC acquired a new stake in Avangrid, Inc. (NYSE:AGR) during the third quarter, Holdings Channel reports. The institutional investor acquired 89,447 shares of the company's stock, valued at approximately $3,738,000.
With inflation creeping higher, the challenge for investors could be to retain an income which is ahead of inflation. In order to do this, dividend growth could become increasingly important in future years.
It's a testament to the size and heritage of HSBC (LSE: HSBA) that the news that it was appointing a new chairman of the board garnered front page headlines in the likes of Bloomberg and the Financial Times.
HSBC demonstrates a poor record of earnings growth and return on equity, and looks expensive. It's facing headwinds with a flattening yield curve, anti-globalization and future market confusion as it attempts to re-brand itself.