Cetera Investment Advisers Cuts Stock Position in Genworth Financial, Inc. $GNW

Cetera Investment Advisers decreased its stake in shares of Genworth Financial, Inc. (NYSE:GNW) by 21.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,916 shares of the financial services provider’s stock after selling 14,586 shares during the quarter. Cetera Investment Advisers’ holdings in Genworth Financial were worth $375,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Byrne Asset Management LLC raised its position in shares of Genworth Financial by 69.5% in the 1st 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 last quarter. Abel Hall LLC purchased a new position in Genworth Financial in the first quarter worth about $71,000. Pennington Partners & CO. LLC bought a new position in shares of Genworth Financial in the fourth quarter worth approximately $84,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Genworth Financial during the fourth quarter valued at approximately $86,000. Finally, GTS Securities LLC purchased a new stake in shares of Genworth Financial during the fourth quarter valued at approximately $93,000. Hedge funds and other institutional investors own 81.85% of the company’s stock.

Genworth Financial Stock Performance

Shares of NYSE GNW opened at $8.38 on Tuesday. The firm’s 50-day moving average price is $7.73 and its 200-day moving average price is $7.18. Genworth Financial, Inc. has a 52-week low of $5.99 and a 52-week high of $8.60. The company has a market cap of $3.44 billion, a PE ratio of 18.62 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 (NYSE:GNW) last posted its earnings results on Wednesday, July 30th. The financial services provider reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.11. The business had revenue of $1.80 billion during the quarter. Genworth Financial had a net margin of 2.61% and a return on equity of 1.91%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on GNW shares. Wall Street Zen cut Genworth Financial from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Keefe, Bruyette & Woods boosted their price target on Genworth Financial from $9.00 to $9.50 and gave the stock an “outperform” rating in a research note on Wednesday, July 9th.

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.