State of Wyoming Sells 80,566 Shares of Genworth Financial, Inc. $GNW

State of Wyoming reduced its stake in shares of Genworth Financial, Inc. (NYSE:GNW) by 65.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,242 shares of the financial services provider’s stock after selling 80,566 shares during the quarter. State of Wyoming’s holdings in Genworth Financial were worth $351,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Larson Financial Group LLC grew its holdings in Genworth Financial by 12,597.7% during the third quarter. Larson Financial Group LLC now owns 5,587 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 5,543 shares during the period. Headlands Technologies LLC acquired a new stake in Genworth Financial in the second quarter worth $44,000. Atlas Wealth LLC acquired a new stake in Genworth Financial in the first quarter worth $51,000. Danske Bank A S acquired a new stake in Genworth Financial in the third quarter worth $60,000. Finally, Rockefeller Capital Management L.P. boosted its position in shares of Genworth Financial by 124.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 7,159 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 3,966 shares in the last quarter. 81.85% of the stock is owned by institutional investors.

Genworth Financial Stock Performance

Shares of GNW opened at $9.90 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.29 and a current ratio of 0.29. Genworth Financial, Inc. has a twelve month low of $7.61 and a twelve month high of $10.20. The firm’s 50 day moving average price is $9.24 and its two-hundred day moving average price is $8.82. The firm has a market cap of $3.79 billion, a P/E ratio of 19.05 and a beta of 0.85.

Genworth Financial (NYSE:GNW) last released its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.10. Genworth Financial had a net margin of 2.96% and a return on equity of 1.73%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.72 billion. On average, analysts forecast that Genworth Financial, Inc. will post 1.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GNW has been the subject of several research analyst reports. Weiss Ratings lowered shares of Genworth Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, July 17th. Zacks Research raised Genworth Financial to a “hold” rating in a research note on Wednesday, May 27th. Wall Street Zen upgraded Genworth Financial from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Finally, Keefe, Bruyette & Woods boosted their target price on Genworth Financial from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Genworth Financial currently has a consensus rating of “Hold” and an average price target of $12.00.

Insider Buying and Selling at Genworth Financial

In related 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 directly owned 5,368,883 shares of the company’s stock, valued at approximately $49,769,545.41. The trade was a 1.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert P. Restrepo, Jr. sold 50,000 shares of the company’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 completion of the transaction, the director directly owned 92,655 shares of the company’s stock, valued at approximately $845,013.60. The trade was a 35.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.80% of the company’s stock.

Genworth Financial Company 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.