Geode Capital Management LLC Trims Stake in Genworth Financial, Inc. $GNW

Geode Capital Management LLC reduced its position in shares of Genworth Financial, Inc. (NYSE:GNW) by 1.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,895,219 shares of the financial services provider’s stock after selling 185,802 shares during the quarter. Geode Capital Management LLC owned about 2.48% of Genworth Financial worth $89,367,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of GNW. Royal Bank of Canada increased its holdings in 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 worth $837,000 after purchasing an additional 50,911 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Genworth Financial by 2.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 252,152 shares of the financial services provider’s stock worth $1,788,000 after purchasing an additional 7,106 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Genworth Financial by 4.9% during 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 period. Strs Ohio purchased a new position in Genworth Financial during the 1st quarter worth $82,000. Finally, Invesco Ltd. increased its holdings 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 valued at $33,386,000 after acquiring an additional 1,248,374 shares during the period. 81.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Genworth Financial

In related news, Director Robert P. Restrepo, Jr. sold 50,000 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was 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 in the company, valued at $845,013.60. The trade was a 35.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas J. Mcinerney sold 100,000 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $9.27, for a total value of $927,000.00. Following the transaction, the chief executive officer owned 5,368,883 shares in the company, valued at approximately $49,769,545.41. This trade represents a 1.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.80% of the stock is owned by insiders.

Genworth Financial Trading Down 0.1%

Shares of NYSE:GNW opened at $8.66 on Monday. Genworth Financial, Inc. has a 12-month low of $6.75 and a 12-month high of $9.45. The business’s fifty day simple moving average is $8.77 and its 200-day simple moving average is $8.68. The company has a market capitalization of $3.31 billion, a PE ratio of 16.64 and a beta of 0.86. 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 (NYSE:GNW) last posted its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates 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. As a group, equities research analysts predict that Genworth Financial, Inc. will post 0.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on GNW shares. Keefe, Bruyette & Woods lifted their price target on Genworth Financial from $10.50 to $11.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Zacks Research upgraded Genworth Financial to a “hold” rating in a report on Wednesday, May 27th. Wall Street Zen downgraded Genworth Financial from a “hold” rating to a “sell” rating in a report on Sunday, May 17th. Finally, Weiss Ratings downgraded Genworth Financial from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, June 1st. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $11.00.

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.