Genworth Financial, Inc. $GNW Stock Position Trimmed by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System cut its position in Genworth Financial, Inc. (NYSE:GNW) by 3.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 193,600 shares of the financial services provider’s stock after selling 7,500 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Genworth Financial were worth $1,506,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Byrne Asset Management LLC lifted its position in 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 valued at $54,000 after purchasing an additional 3,115 shares during the last quarter. Abel Hall LLC bought a new stake in shares of Genworth Financial during the 1st quarter worth about $71,000. Blueshift Asset Management LLC bought a new stake in shares of Genworth Financial during the 1st quarter worth about $71,000. Strs Ohio bought a new stake in shares of Genworth Financial during the 1st quarter worth about $82,000. Finally, GAMMA Investing LLC raised its position in shares of Genworth Financial by 29.5% during the 2nd quarter. GAMMA Investing LLC now owns 11,770 shares of the financial services provider’s stock worth $92,000 after buying an additional 2,679 shares in the last quarter. 81.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on GNW. Keefe, Bruyette & Woods boosted their price target on shares of Genworth Financial from $9.50 to $10.00 and gave the stock an “outperform” rating in a research report on Thursday. Weiss Ratings restated a “hold (c+)” rating on shares of Genworth Financial in a research report on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of Genworth Financial from a “hold” rating to a “sell” rating in a research report on Saturday. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $10.00.

Genworth Financial Stock Performance

Shares of GNW opened at $8.52 on Monday. The firm’s 50 day moving average is $8.62 and its 200-day moving average is $7.66. The stock has a market capitalization of $3.50 billion, a P/E ratio of 18.93 and a beta of 0.99. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.29 and a quick ratio of 0.29. Genworth Financial, Inc. has a 12-month low of $5.99 and a 12-month high of $9.15.

Genworth Financial (NYSE:GNW) last announced its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.11. The company 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%.

Insider Buying and Selling at Genworth Financial

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

About Genworth Financial

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.