Squarepoint Ops LLC Has $5.92 Million Position in Genworth Financial, Inc. $GNW

Squarepoint Ops LLC lessened its holdings in shares of Genworth Financial, Inc. (NYSE:GNW) by 42.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 625,089 shares of the financial services provider’s stock after selling 467,824 shares during the quarter. Squarepoint Ops LLC owned approximately 0.17% of Genworth Financial worth $5,920,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in GNW. Headlands Technologies LLC bought a new stake in Genworth Financial in the second quarter worth approximately $44,000. Larson Financial Group LLC raised its holdings in shares of Genworth Financial by 12,597.7% during the 3rd 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 in the last quarter. Atlas Wealth LLC bought a new position in shares of Genworth Financial during the 1st quarter valued at $51,000. Danske Bank A S acquired a new stake in shares of Genworth Financial in the 3rd quarter valued at $60,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Genworth Financial by 140.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,063 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 4,708 shares during the last quarter. 81.85% of the stock is currently owned by institutional investors and hedge funds.

Genworth Financial Price Performance

Shares of Genworth Financial stock opened at $10.49 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.15. The firm has a fifty day simple moving average of $9.93 and a 200-day simple moving average of $9.15. The stock has a market capitalization of $3.96 billion, a price-to-earnings ratio of 20.17 and a beta of 0.85. Genworth Financial, Inc. has a 1-year low of $7.84 and a 1-year high of $10.69.

Genworth Financial (NYSE:GNW) last posted its earnings results on Wednesday, August 5th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.90 billion. Genworth Financial had a net margin of 2.87% and a return on equity of 1.06%. On average, sell-side analysts expect that Genworth Financial, Inc. will post 1.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GNW has been the topic of several analyst reports. Keefe, Bruyette & Woods raised shares of Genworth Financial from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Wall Street Zen upgraded Genworth Financial from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Zacks Research raised Genworth Financial to a “hold” rating in a research report on Wednesday, May 27th. Finally, Weiss Ratings upgraded Genworth Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $12.00.

Insider Transactions at Genworth Financial

In other news, EVP Melissa Hagerman sold 14,708 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $9.91, for a total value of $145,756.28. Following the sale, the executive vice president directly owned 192,539 shares of the company’s stock, valued at approximately $1,908,061.49. This trade represents a 7.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas McInerney sold 100,000 shares of Genworth Financial stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $10.53, for a total value of $1,053,000.00. Following the completion of the transaction, the chief executive officer owned 5,068,883 shares in the company, valued at $53,375,337.99. The trade was a 1.93% 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 corporate insiders.

About Genworth Financial

Genworth Financial, Inc is an insurance holding company headquartered in Richmond, Virginia. The company’s primary business is U.S. mortgage insurance, which helps lenders manage credit risk and enables eligible homebuyers to purchase homes with down payments below traditional requirements. This business operates through Enact Holdings, Inc, a publicly traded subsidiary in which Genworth remains a significant shareholder.

Genworth also manages a substantial portfolio of long-term care insurance policies, providing benefits that may help cover nursing care, assisted living, home health care and other extended-care services.