Swiss National Bank Sells 22,600 Shares of Genworth Financial, Inc. $GNW

Swiss National Bank lessened its stake in Genworth Financial, Inc. (NYSE:GNW) by 2.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 827,386 shares of the financial services provider’s stock after selling 22,600 shares during the period. Swiss National Bank owned approximately 0.20% of Genworth Financial worth $5,866,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in GNW. Byrne Asset Management LLC increased its stake 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 in the last quarter. Blueshift Asset Management LLC bought a new stake in shares of Genworth Financial in the 1st quarter worth about $71,000. Abel Hall LLC bought a new stake in shares of Genworth Financial in the 1st quarter worth about $71,000. Pennington Partners & CO. LLC bought a new position in Genworth Financial during the 4th quarter valued at about $84,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in Genworth Financial during the 4th quarter valued at about $86,000. Institutional investors own 81.85% of the company’s stock.

Analysts Set New Price Targets

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

Genworth Financial Stock Up 0.6%

Shares of NYSE GNW opened at $8.38 on Tuesday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.16. The stock has a market cap of $3.44 billion, a PE ratio of 18.62 and a beta of 1.12. The company has a 50-day moving average of $7.73 and a 200 day moving average of $7.18. Genworth Financial, Inc. has a 12-month low of $5.99 and a 12-month high of $8.60.

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