State of Wyoming Decreases Position in Genworth Financial, Inc. $GNW

State of Wyoming trimmed its stake in Genworth Financial, Inc. (NYSE:GNW) by 78.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,114 shares of the financial services provider’s stock after selling 29,937 shares during the period. State of Wyoming’s holdings in Genworth Financial were worth $58,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Donald Smith & CO. Inc. boosted its holdings in shares of Genworth Financial by 4.5% in the 1st quarter. Donald Smith & CO. Inc. now owns 27,114,581 shares of the financial services provider’s stock worth $192,242,000 after purchasing an additional 1,165,112 shares during the period. 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 worth $57,121,000 after purchasing an additional 836,192 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Genworth Financial by 1.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,269,135 shares of the financial services provider’s stock worth $37,358,000 after purchasing an additional 74,123 shares during the period. Nuveen LLC purchased a new position in shares of Genworth Financial in the 1st quarter worth approximately $24,661,000. Finally, Nuveen Asset Management LLC boosted its holdings in shares of Genworth Financial by 106.9% in the 4th quarter. Nuveen Asset Management LLC now owns 2,663,077 shares of the financial services provider’s stock worth $18,615,000 after purchasing an additional 1,375,637 shares during the period. Hedge funds and other institutional investors own 81.85% of the company’s stock.

Genworth Financial Trading Down 0.8%

Shares of NYSE GNW opened at $8.53 on Wednesday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $8.07 and a two-hundred day simple moving average of $7.33. The firm has a market cap of $3.50 billion, a PE ratio of 18.94 and a beta of 0.94. Genworth Financial, Inc. has a twelve month low of $5.99 and a twelve month high of $8.74.

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

Analyst Ratings Changes

A number of brokerages have recently commented on GNW. Keefe, Bruyette & Woods lifted 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 report on Sunday. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $9.50.

Insiders Place Their Bets

In other Genworth Financial news, CEO Rohit Gupta sold 86,406 shares of Genworth Financial stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $8.68, for a total transaction of $750,004.08. Following the completion of the sale, the chief executive officer directly owned 794,630 shares of the company’s stock, valued at $6,897,388.40. The trade was a 9.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.80% of the stock is currently owned by company insiders.

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.