Hsbc Holdings PLC Sells 1,163,188 Shares of Genworth Financial, Inc. (NYSE:GNW)

Hsbc Holdings PLC lessened its holdings in Genworth Financial, Inc. (NYSE:GNW) by 80.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 274,224 shares of the financial services provider’s stock after selling 1,163,188 shares during the period. Hsbc Holdings PLC’s holdings in Genworth Financial were worth $1,675,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. First Trust Direct Indexing L.P. increased its holdings in shares of Genworth Financial by 9.9% in the 1st quarter. First Trust Direct Indexing L.P. now owns 19,670 shares of the financial services provider’s stock worth $126,000 after buying an additional 1,780 shares during the last quarter. Covestor Ltd increased its stake in Genworth Financial by 11.5% during the first quarter. Covestor Ltd now owns 18,131 shares of the financial services provider’s stock worth $117,000 after acquiring an additional 1,868 shares during the last quarter. Sage Rhino Capital LLC raised its position in Genworth Financial by 9.8% during the second quarter. Sage Rhino Capital LLC now owns 21,899 shares of the financial services provider’s stock valued at $132,000 after purchasing an additional 1,950 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in shares of Genworth Financial by 29.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 8,700 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 2,000 shares during the last quarter. Finally, RMR Wealth Builders boosted its holdings in shares of Genworth Financial by 20.2% in the 2nd quarter. RMR Wealth Builders now owns 12,620 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 2,120 shares during the period. Hedge funds and other institutional investors own 81.85% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Thomas J. Mcinerney sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $6.88, for a total value of $1,032,000.00. Following the completion of the sale, the chief executive officer now owns 4,532,954 shares in the company, valued at $31,186,723.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Genworth Financial from a “buy” rating to a “hold” rating in a research report on Friday, September 6th.

Genworth Financial Stock Up 0.6 %

Shares of NYSE:GNW opened at $6.77 on Friday. The business has a 50 day simple moving average of $6.69 and a two-hundred day simple moving average of $6.39. The firm has a market capitalization of $2.96 billion, a PE ratio of 35.63 and a beta of 0.94. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.29 and a quick ratio of 0.29. Genworth Financial, Inc. has a 1 year low of $5.32 and a 1 year high of $7.01.

Genworth Financial (NYSE:GNW) last posted its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.09. Genworth Financial had a net margin of 0.43% and a return on equity of 0.25%. The firm had revenue of $1.77 billion for the quarter. During the same quarter in the previous year, the company posted $0.29 earnings per share.

About Genworth Financial

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.