150,069 Shares in Genworth Financial, Inc. $GNW Acquired by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC disclosed a new position in Genworth Financial, buying 150,069 shares valued at about $1.36 million in the fourth quarter.
• Genworth Financial reported Q1 earnings of $0.28 per share, beating analyst expectations of $0.18, though revenue of $1.04 billion fell well short of the $1.72 billion estimate.
• Several analysts remain cautious on GNW, with the stock carrying a Hold consensus rating and an average target price of $11.00; meanwhile, insiders recently sold shares, including the CEO and a director.

Hsbc Holdings PLC acquired a new stake in shares of Genworth Financial, Inc. (NYSE:GNW - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 150,069 shares of the financial services provider's stock, valued at approximately $1,360,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its holdings in shares of Genworth Financial by 75.8% during the 1st quarter. Royal Bank of Canada now owns 118,058 shares of the financial services provider's stock valued at $837,000 after purchasing an additional 50,911 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Genworth Financial by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 252,152 shares of the financial services provider's stock valued at $1,788,000 after acquiring an additional 7,106 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Genworth Financial by 4.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,184,144 shares of the financial services provider's stock worth $8,396,000 after purchasing an additional 55,071 shares during the last quarter. Strs Ohio acquired a new stake in Genworth Financial in the 1st quarter worth approximately $82,000. Finally, Invesco Ltd. boosted its position 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. 81.85% of the stock is currently owned by institutional investors and hedge funds.

Genworth Financial Stock Performance

GNW opened at $9.54 on Thursday. The stock has a market cap of $3.66 billion, a PE ratio of 18.36 and a beta of 0.85. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.15. Genworth Financial, Inc. has a 1 year low of $7.13 and a 1 year high of $9.65. The stock's 50 day simple moving average is $8.98 and its 200-day simple moving average is $8.74.

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

Insiders Place Their Bets

In other news, CEO Thomas J. Mcinerney sold 100,000 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer directly owned 5,368,883 shares of the company's stock, valued at approximately $49,769,545.41. This trade represents a 1.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert P. Restrepo, Jr. sold 50,000 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $9.12, for a total transaction of $456,000.00. Following the completion of the transaction, the director directly owned 92,655 shares of the company's stock, valued at $845,013.60. This trade represents a 35.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.80% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on GNW shares. Zacks Research upgraded Genworth Financial to a "hold" rating in a report on Wednesday, May 27th. Weiss Ratings upgraded shares of Genworth Financial from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, June 16th. Wall Street Zen downgraded shares of Genworth Financial from a "hold" rating to a "sell" rating in a report on Sunday, May 17th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Genworth Financial from $10.50 to $11.00 and gave the company an "outperform" rating in a research note on Wednesday, May 13th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Genworth Financial currently has a consensus rating of "Hold" and an average target price of $11.00.

Genworth Financial Company 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.

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