Hsbc Holdings PLC Sells 107,074 Shares of Genworth Financial, Inc. $GNW

Key Points

• Hsbc Holdings PLC has reduced its stake in Genworth Financial, Inc. by 27.9%, selling 107,074 shares and holding approximately 0.07% of the company valued at around $1.95 million.
• Institutional investors now own 81.85% of Genworth Financial's stock, with significant increases in holdings from other investors like Principal Financial Group and GAMMA Investing LLC.
• Wall Street analysts have mixed ratings on Genworth Financial, with one report changing its assessment from "hold" to "sell," while others have increased their target price to $9.50, overall indicating an average "Buy" rating.

Hsbc Holdings PLC decreased its stake in shares of Genworth Financial, Inc. (NYSE:GNW - Free Report) by 27.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 276,470 shares of the financial services provider's stock after selling 107,074 shares during the period. Hsbc Holdings PLC owned approximately 0.07% of Genworth Financial worth $1,955,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Principal Financial Group Inc. boosted its stake in shares of Genworth Financial by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 2,126,240 shares of the financial services provider's stock valued at $15,075,000 after purchasing an additional 55,085 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Genworth Financial by 494.7% during the 1st quarter. GAMMA Investing LLC now owns 64,455 shares of the financial services provider's stock valued at $457,000 after purchasing an additional 53,617 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Genworth Financial by 56.0% during the 1st quarter. Handelsbanken Fonder AB now owns 112,490 shares of the financial services provider's stock valued at $798,000 after purchasing an additional 40,400 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Genworth Financial by 34.1% during the 4th quarter. Deutsche Bank AG now owns 430,853 shares of the financial services provider's stock valued at $3,012,000 after purchasing an additional 109,570 shares in the last quarter. Finally, Cerity Partners LLC boosted its stake in shares of Genworth Financial by 136.3% during the 1st quarter. Cerity Partners LLC now owns 47,681 shares of the financial services provider's stock valued at $338,000 after purchasing an additional 27,501 shares in the last quarter. Institutional investors own 81.85% of the company's stock.

Wall Street Analysts Forecast Growth

GNW has been the topic of a number of research reports. Wall Street Zen lowered shares of Genworth Financial from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Keefe, Bruyette & Woods lifted their target price on shares of Genworth Financial from $9.00 to $9.50 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Genworth Financial has an average rating of "Buy" and an average price target of $9.50.

Genworth Financial Trading Up 0.8%

NYSE:GNW opened at $8.68 on Thursday. Genworth Financial, Inc. has a one year low of $5.99 and a one year high of $8.74. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.29 and a quick ratio of 0.29. The company's 50-day simple moving average is $7.94 and its 200 day simple moving average is $7.24. The firm has a market capitalization of $3.56 billion, a P/E ratio of 19.28 and a beta of 1.12.

Genworth Financial (NYSE:GNW - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $0.16 EPS for the quarter, topping the consensus estimate of $0.05 by $0.11. Genworth Financial had a net margin of 2.61% and a return on equity of 1.91%. The business had revenue of $1.80 billion for the quarter.

Genworth Financial Profile

Genworth Financial, Inc, together with its subsidiaries, provides mortgage and long-term care insurance products in the United States and internationally. It operates in three segments: Enact, Long-Term Care Insurance, and Life and Annuities. The Enact segment offers private mortgage insurance products primarily insuring prime-based, individually underwritten residential mortgage loans; and pool mortgage insurance products.

Want to see what other hedge funds are holding GNW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Genworth Financial, Inc. (NYSE:GNW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.