Bank of New York Mellon Corp Sells 96,236 Shares of Genworth Financial, Inc. (NYSE:GNW)

Bank of New York Mellon Corp trimmed its stake in Genworth Financial, Inc. (NYSE:GNW) by 3.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,777,926 shares of the financial services provider’s stock after selling 96,236 shares during the period. Bank of New York Mellon Corp owned about 0.67% of Genworth Financial worth $19,695,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Byrne Asset Management LLC lifted its position in Genworth Financial by 69.5% in the first quarter. Byrne Asset Management LLC now owns 7,595 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 3,115 shares during the period. Pennington Partners & CO. LLC acquired a new stake in shares of Genworth Financial in the 4th quarter valued at $84,000. Landscape Capital Management L.L.C. acquired a new position in Genworth Financial in the fourth quarter valued at about $85,000. Mercer Global Advisors Inc. ADV acquired a new stake in Genworth Financial during the 4th quarter valued at $86,000. Finally, GTS Securities LLC bought a new stake in shares of Genworth Financial during the fourth quarter worth $93,000. 81.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on GNW. Wall Street Zen lowered shares of Genworth Financial from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Keefe, Bruyette & Woods upped their price target on Genworth Financial from $9.00 to $9.50 and gave the company an “outperform” rating in a research note on Wednesday, July 9th.

Genworth Financial Stock Performance

NYSE GNW opened at $7.45 on Friday. The stock has a 50-day simple moving average of $7.29 and a 200 day simple moving average of $7.02. Genworth Financial, Inc. has a 12 month low of $5.99 and a 12 month high of $8.08. The company has a market capitalization of $3.09 billion, a PE ratio of 14.90 and a beta of 1.06. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.16.

Genworth Financial (NYSE:GNW) last announced its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.09). Genworth Financial had a return on equity of 2.53% and a net margin of 2.97%. The firm had revenue of $1.76 billion for the quarter.

Genworth Financial Profile

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.