Commonwealth Equity Services LLC Acquires 3,900 Shares of Genworth Financial, Inc. (NYSE:GNW)

Commonwealth Equity Services LLC boosted its holdings in Genworth Financial, Inc. (NYSE:GNW) by 1.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 306,136 shares of the financial services provider’s stock after acquiring an additional 3,900 shares during the quarter. Commonwealth Equity Services LLC owned 0.07% of Genworth Financial worth $1,968,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Activest Wealth Management bought a new position in shares of Genworth Financial during the 1st quarter valued at $31,000. Simplicity Wealth LLC bought a new position in shares of Genworth Financial during the 1st quarter valued at $79,000. Raymond James & Associates lifted its holdings in shares of Genworth Financial by 1.4% during the 1st quarter. Raymond James & Associates now owns 1,067,401 shares of the financial services provider’s stock valued at $6,863,000 after buying an additional 14,721 shares during the period. First Trust Direct Indexing L.P. lifted its holdings in shares of Genworth Financial by 9.9% during the 1st quarter. First Trust Direct Indexing L.P. now owns 19,670 shares of the financial services provider’s stock valued at $126,000 after buying an additional 1,780 shares during the period. Finally, Denali Advisors LLC lifted its holdings in shares of Genworth Financial by 69.8% during the 1st quarter. Denali Advisors LLC now owns 530,300 shares of the financial services provider’s stock valued at $3,410,000 after buying an additional 218,000 shares during the period. 81.85% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Genworth Financial news, CEO Thomas J. Mcinerney sold 200,000 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $6.27, for a total value of $1,254,000.00. Following the completion of the sale, the chief executive officer now owns 4,361,980 shares in the company, valued at approximately $27,349,614.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is currently owned by company insiders.

Genworth Financial Stock Performance

Genworth Financial stock traded down $0.03 during trading on Friday, reaching $6.00. The company had a trading volume of 788,051 shares, compared to its average volume of 2,782,992. Genworth Financial, Inc. has a 52 week low of $5.20 and a 52 week high of $6.93. The firm’s 50-day simple moving average is $6.26 and its 200 day simple moving average is $6.27. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of 31.74 and a beta of 0.92. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.18.

Genworth Financial (NYSE:GNW) last announced its earnings results on Wednesday, May 1st. The financial services provider reported $0.19 EPS for the quarter. Genworth Financial had a negative return on equity of 0.21% and a net margin of 1.24%. The company had revenue of $1.86 billion for the quarter.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods increased their price target on Genworth Financial from $6.50 to $7.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th.

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.