Mackenzie Financial Corp Sells 31,121 Shares of Genworth Financial, Inc. (NYSE:GNW)

Mackenzie Financial Corp trimmed its stake in Genworth Financial, Inc. (NYSE:GNW) by 26.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 86,856 shares of the financial services provider’s stock after selling 31,121 shares during the period. Mackenzie Financial Corp’s holdings in Genworth Financial were worth $616,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. LPL Financial LLC boosted its stake in shares of Genworth Financial by 44.0% in the 4th quarter. LPL Financial LLC now owns 33,163 shares of the financial services provider’s stock valued at $232,000 after purchasing an additional 10,135 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Genworth Financial by 37.2% in the fourth quarter. JPMorgan Chase & Co. now owns 2,671,573 shares of the financial services provider’s stock valued at $18,674,000 after buying an additional 724,557 shares in the last quarter. Landscape Capital Management L.L.C. bought a new stake in Genworth Financial during the fourth quarter worth about $85,000. Wells Fargo & Company MN grew its stake in Genworth Financial by 26.1% during the fourth quarter. Wells Fargo & Company MN now owns 266,198 shares of the financial services provider’s stock worth $1,861,000 after buying an additional 55,078 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC increased its holdings in shares of Genworth Financial by 20.3% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 42,906 shares of the financial services provider’s stock worth $300,000 after buying an additional 7,248 shares in the last quarter. 81.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GNW has been the topic of several recent analyst reports. Keefe, Bruyette & Woods boosted their target price on Genworth Financial from $9.00 to $9.50 and gave the stock an “outperform” rating in a report on Wednesday, July 9th. Wall Street Zen downgraded Genworth Financial from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd.

Genworth Financial Stock Performance

Genworth Financial stock opened at $8.20 on Thursday. The stock has a 50-day simple moving average of $7.51 and a 200 day simple moving average of $7.11. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of 18.22 and a beta of 1.12. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.16. Genworth Financial, Inc. has a 12-month low of $5.99 and a 12-month high of $8.28.

Genworth Financial (NYSE:GNW) last released its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.16 EPS for the quarter, beating the consensus estimate of $0.05 by $0.11. The business had revenue of $1.80 billion for the quarter. Genworth Financial had a net margin of 2.61% and a return on equity of 1.91%.

Genworth Financial Company 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.