Northern Trust Corp Trims Position in Genworth Financial, Inc. $GNW

Northern Trust Corp reduced its position in Genworth Financial, Inc. (NYSE:GNW) by 2.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,884,040 shares of the financial services provider’s stock after selling 141,138 shares during the period. Northern Trust Corp owned 1.42% of Genworth Financial worth $41,718,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. American Century Companies Inc. boosted its holdings in shares of Genworth Financial by 11.6% in the 1st quarter. American Century Companies Inc. now owns 8,056,534 shares of the financial services provider’s stock valued at $57,121,000 after buying an additional 836,192 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Genworth Financial in the 1st quarter valued at about $336,000. HighTower Advisors LLC boosted its holdings in shares of Genworth Financial by 20.0% in the 1st quarter. HighTower Advisors LLC now owns 21,111 shares of the financial services provider’s stock valued at $150,000 after buying an additional 3,521 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in shares of Genworth Financial by 27.3% in the 1st quarter. Public Sector Pension Investment Board now owns 1,354,197 shares of the financial services provider’s stock valued at $9,601,000 after buying an additional 290,286 shares in the last quarter. Finally, Alta Fundamental Advisers LLC boosted its holdings in shares of Genworth Financial by 38.3% in the 1st quarter. Alta Fundamental Advisers LLC now owns 531,080 shares of the financial services provider’s stock valued at $3,765,000 after buying an additional 147,080 shares in the last quarter. 81.85% of the stock is currently owned by institutional investors.

Genworth Financial Stock Down 1.1%

GNW stock opened at $8.58 on Friday. The firm has a 50 day moving average of $7.95 and a 200 day moving average of $7.25. The stock has a market capitalization of $3.52 billion, a PE ratio of 19.06 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 52 week low of $5.99 and a 52 week high of $8.74.

Genworth Financial (NYSE:GNW) last released 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 company 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%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wall Street Zen cut shares of Genworth Financial from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Keefe, Bruyette & Woods raised their price target on shares of Genworth Financial from $9.00 to $9.50 and gave the company an “outperform” rating in a report on Wednesday, July 9th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $9.50.

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.