Hsbc Holdings PLC Buys Shares of 150,069 Genworth Financial, Inc. $GNW

Key Points

• HSBC Holdings PLC initiated a new position in Genworth Financial, buying 150,069 shares worth about $1.36 million in the fourth quarter.
• Several other institutional investors also boosted or started stakes in GNW, and hedge funds and institutions own 81.85% of the stock.
• Genworth’s shares were little changed at $9.21, while analysts currently rate the stock Moderate Buy with a consensus price target of $11.00.

Hsbc Holdings PLC purchased a new stake in shares of Genworth Financial, Inc. (NYSE:GNW - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 150,069 shares of the financial services provider's stock, valued at approximately $1,360,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in Genworth Financial in the fourth quarter valued at about $45,912,000. Gendell Jeffrey L increased its position in shares of Genworth Financial by 168.0% during the 4th quarter. Gendell Jeffrey L now owns 6,485,888 shares of the financial services provider's stock valued at $58,568,000 after purchasing an additional 4,065,684 shares during the last quarter. UBS Group AG lifted its stake in shares of Genworth Financial by 621.2% in the 4th 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. Invesco Ltd. lifted its stake 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 worth $33,386,000 after purchasing an additional 1,248,374 shares during the period. Finally, Hudson Bay Capital Management LP purchased a new position in shares of Genworth Financial in the second quarter worth approximately $5,616,000. 81.85% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Genworth Financial news, CEO Thomas J. Mcinerney sold 100,000 shares of the business'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 owned 5,368,883 shares in the company, valued at $49,769,545.41. The trade was a 1.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $9.12, for a total transaction of $456,000.00. Following 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. 1.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

Genworth Financial Stock Up 0.1%

NYSE GNW opened at $9.21 on Monday. Genworth Financial, Inc. has a 12 month low of $7.13 and a 12 month high of $9.69. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.15. The stock has a market cap of $3.53 billion, a PE ratio of 17.70 and a beta of 0.85. The stock's 50 day moving average is $9.06 and its 200 day moving average is $8.75.

Genworth Financial (NYSE:GNW - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.10. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.72 billion. Genworth Financial had a net margin of 2.96% and a return on equity of 1.73%. Research analysts predict that Genworth Financial, Inc. will post 0.44 EPS for the current fiscal year.

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.

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