PNC Financial Services Group Inc. Lowers Stake in Genworth Financial, Inc. (NYSE:GNW)

PNC Financial Services Group Inc. reduced its holdings in shares of Genworth Financial, Inc. (NYSE:GNWFree Report) by 34.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,921 shares of the financial services provider’s stock after selling 44,964 shares during the period. PNC Financial Services Group Inc.’s holdings in Genworth Financial were worth $581,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Daiwa Securities Group Inc. purchased a new position in Genworth Financial during the 4th quarter valued at about $33,000. GAMMA Investing LLC bought a new stake in Genworth Financial during the 4th quarter valued at about $56,000. Pathway Financial Advisors LLC bought a new stake in Genworth Financial during the 4th quarter valued at about $71,000. Versor Investments LP bought a new stake in Genworth Financial during the 3rd quarter valued at about $71,000. Finally, Seven Eight Capital LP bought a new stake in Genworth Financial during the 3rd quarter valued at about $94,000. 81.85% of the stock is owned by hedge funds and other institutional investors.

Genworth Financial Stock Down 0.8 %

NYSE:GNW opened at $6.29 on Friday. The firm has a 50-day simple moving average of $6.28 and a two-hundred day simple moving average of $6.26. Genworth Financial, Inc. has a fifty-two week low of $4.83 and a fifty-two week high of $6.93. The firm has a market cap of $2.75 billion, a P/E ratio of 33.11 and a beta of 1.08. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.29 and a current ratio of 0.29.

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

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods raised their price objective on shares of Genworth Financial from $6.50 to $7.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th.

Read Our Latest Report on Genworth Financial

Insider Transactions at Genworth Financial

In other news, CEO Thomas J. Mcinerney sold 200,000 shares of Genworth Financial stock in a transaction that occurred on Friday, May 24th. The shares were 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 directly owns 4,361,980 shares in the company, valued at $27,349,614.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.80% of the company’s stock.

About Genworth Financial

(Free Report)

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.

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Institutional Ownership by Quarter for Genworth Financial (NYSE:GNW)

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