Hsbc Holdings PLC Buys New Stake in Genworth Financial, Inc. $GNW

Hsbc Holdings PLC purchased a new position in Genworth Financial, Inc. (NYSE:GNW) during the 4th quarter, Holdings Channel.com reports. The firm purchased 150,069 shares of the financial services provider’s stock, valued at approximately $1,360,000.

Other hedge funds also recently bought and sold shares of the company. Nuveen LLC lifted its position in Genworth Financial by 2.3% during the fourth quarter. Nuveen LLC now owns 9,781,111 shares of the financial services provider’s stock valued at $88,323,000 after purchasing an additional 223,279 shares during the last quarter. Gendell Jeffrey L increased its holdings in shares of Genworth Financial by 168.0% in the 4th quarter. Gendell Jeffrey L now owns 6,485,888 shares of the financial services provider’s stock worth $58,568,000 after buying an additional 4,065,684 shares during the last quarter. Norges Bank purchased a new stake in shares of Genworth Financial during the 4th quarter valued at about $45,912,000. Invesco Ltd. lifted its holdings in shares of Genworth Financial by 41.0% in the 2nd quarter. Invesco Ltd. now owns 4,291,220 shares of the financial services provider’s stock valued at $33,386,000 after acquiring an additional 1,248,374 shares during the last quarter. Finally, UBS Group AG grew its position in Genworth Financial by 621.2% in the fourth quarter. UBS Group AG now owns 3,598,588 shares of the financial services provider’s stock worth $32,495,000 after acquiring an additional 3,099,582 shares in the last quarter. Hedge funds and other institutional investors own 81.85% of the company’s stock.

Analysts Set New Price Targets

GNW has been the subject of several analyst reports. Wall Street Zen raised Genworth Financial from a “sell” rating to a “hold” rating in a research note on Sunday. Zacks Research upgraded Genworth Financial to a “hold” rating in a research report on Wednesday, May 27th. Weiss Ratings raised shares of Genworth Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, June 30th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Genworth Financial from $10.50 to $11.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $11.00.

Genworth Financial Stock Up 0.1%

Genworth Financial stock opened at $9.21 on Monday. The business’s 50-day simple moving average is $9.06 and its two-hundred day simple moving average is $8.75. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market cap of $3.53 billion, a PE ratio of 17.70 and a beta of 0.85. Genworth Financial, Inc. has a fifty-two week low of $7.13 and a fifty-two week high of $9.69.

Genworth Financial (NYSE:GNW) last released its earnings results on Tuesday, May 5th. The financial services provider reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.10. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.72 billion. Genworth Financial had a return on equity of 1.73% and a net margin of 2.96%. Equities analysts anticipate that Genworth Financial, Inc. will post 0.44 EPS for the current year.

Insider Buying and Selling

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

Genworth Financial Profile

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.