Hsbc Holdings PLC Sells 94,698 Shares of Genworth Financial, Inc. $GNW

Hsbc Holdings PLC reduced its position in shares of Genworth Financial, Inc. (NYSE:GNWFree Report) by 63.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Headlands Technologies LLC acquired a new position in Genworth Financial during the 2nd quarter worth $44,000. Larson Financial Group LLC boosted its holdings in Genworth Financial by 12,597.7% during the third quarter. Larson Financial Group LLC now owns 5,587 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 5,543 shares during the period. Danske Bank A S acquired a new stake in shares of Genworth Financial in the third quarter valued at about $60,000. EverSource Wealth Advisors LLC grew its position in shares of Genworth Financial by 140.3% in the second quarter. EverSource Wealth Advisors LLC now owns 8,063 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 4,708 shares during the last quarter. Finally, Rockefeller Capital Management L.P. increased its stake in shares of Genworth Financial by 124.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 7,159 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 3,966 shares during the period. 81.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Read Our Latest Research Report on Genworth Financial

Insider Activity

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

Genworth Financial Stock Performance

NYSE GNW opened at $9.84 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of 18.91 and a beta of 0.85. The company’s fifty day moving average is $9.30 and its two-hundred day moving average is $8.85. Genworth Financial, Inc. has a 52-week low of $7.61 and a 52-week high of $10.20.

Genworth Financial (NYSE:GNWGet Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.10. Genworth Financial had a net margin of 2.96% and a return on equity of 1.73%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.72 billion. Equities research analysts forecast that Genworth Financial, Inc. will post 1.1 EPS for the current year.

About Genworth Financial

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Genworth Financial (NYSE:GNW)

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