Hsbc Holdings PLC Has $448,000 Stock Holdings in Genworth Financial, Inc. $GNW

Hsbc Holdings PLC decreased its holdings in Genworth Financial, Inc. (NYSE:GNW) by 63.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 55,371 shares of the financial services provider’s stock after selling 94,698 shares during the period. Hsbc Holdings PLC’s holdings in Genworth Financial were worth $448,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nuveen LLC boosted its position in shares of Genworth Financial by 2.3% during the 4th quarter. Nuveen LLC now owns 9,781,111 shares of the financial services provider’s stock valued at $88,323,000 after acquiring an additional 223,279 shares in the last quarter. Gendell Jeffrey L raised its position in Genworth Financial by 168.0% in the fourth quarter. Gendell Jeffrey L now owns 6,485,888 shares of the financial services provider’s stock worth $58,568,000 after purchasing an additional 4,065,684 shares in the last quarter. Norges Bank bought a new position in Genworth Financial during the fourth quarter worth about $45,912,000. Invesco Ltd. lifted its stake in Genworth Financial by 41.0% during the second quarter. Invesco Ltd. now owns 4,291,220 shares of the financial services provider’s stock worth $33,386,000 after purchasing an additional 1,248,374 shares during the period. Finally, UBS Group AG lifted its stake in Genworth Financial by 621.2% during the fourth quarter. UBS Group AG now owns 3,598,588 shares of the financial services provider’s stock worth $32,495,000 after purchasing an additional 3,099,582 shares during the period. 81.85% of the stock is owned by institutional investors.

Genworth Financial Trading Down 1.3%

Shares of GNW stock opened at $9.84 on Friday. The company has a market capitalization of $3.77 billion, a P/E ratio of 18.91 and a beta of 0.85. Genworth Financial, Inc. has a 12-month low of $7.61 and a 12-month high of $10.20. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $9.30 and a 200 day moving average price of $8.85.

Genworth Financial (NYSE:GNW) last issued its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.10. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Genworth Financial had a net margin of 2.96% and a return on equity of 1.73%. Research analysts forecast that Genworth Financial, Inc. will post 1.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on GNW. Keefe, Bruyette & Woods upped their price objective on Genworth Financial from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Weiss Ratings downgraded Genworth Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, July 17th. Zacks Research raised Genworth Financial to a “hold” rating in a research note on Wednesday, May 27th. Finally, Wall Street Zen raised Genworth Financial from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $12.00.

Insider Buying and Selling

In related news, Director Robert P. Restrepo, Jr. sold 50,000 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $9.12, for a total transaction of $456,000.00. Following the sale, the director directly owned 92,655 shares in the company, valued at $845,013.60. This represents a 35.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas J. Mcinerney sold 100,000 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $9.27, for a total value of $927,000.00. Following the sale, the chief executive officer directly owned 5,368,883 shares of the company’s stock, valued at $49,769,545.41. This represents a 1.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.80% of the company’s stock.

About Genworth Financial

Genworth Financial (NYSE: GNW) is a leading financial security company offering a broad range of insurance products. Based in Richmond, Virginia, Genworth provides individuals and families with solutions designed to protect against long-term care expenses, secure life insurance needs and support homeownership through private mortgage insurance. With operations spanning the United States, Canada and Australia, the company serves both retail and institutional clients through a diversified portfolio of risk management services.

The company’s Private Mortgage Insurance (PMI) segment offers coverage to lenders and consumers in the US, Canada and Australia, enabling homebuyers to purchase properties with lower down payments.