Genworth Financial, Inc. $GNW Shares Bought by Ethic Inc.

Ethic Inc. grew its position in Genworth Financial, Inc. (NYSE:GNW) by 15.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,045 shares of the financial services provider’s stock after buying an additional 1,847 shares during the quarter. Ethic Inc.’s holdings in Genworth Financial were worth $110,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Blueshift Asset Management LLC acquired a new stake in Genworth Financial in the 1st quarter valued at about $71,000. Abel Hall LLC acquired a new position in Genworth Financial in the 1st quarter valued at $71,000. Strs Ohio acquired a new position in Genworth Financial in the 1st quarter valued at $82,000. GAMMA Investing LLC increased its stake in Genworth Financial by 29.5% in the second quarter. GAMMA Investing LLC now owns 11,770 shares of the financial services provider’s stock valued at $92,000 after purchasing an additional 2,679 shares during the last quarter. Finally, CWM LLC increased its position in Genworth Financial by 113.6% during the second quarter. CWM LLC now owns 12,788 shares of the financial services provider’s stock worth $99,000 after purchasing an additional 6,800 shares during the last quarter. Institutional investors and hedge funds own 81.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GNW. Wall Street Zen lowered Genworth Financial from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Genworth Financial in a report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods raised their price objective on Genworth Financial from $9.50 to $10.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Genworth Financial has a consensus rating of “Moderate Buy” and a consensus price target of $10.00.

Genworth Financial Price Performance

Shares of GNW opened at $8.46 on Friday. Genworth Financial, Inc. has a 12 month low of $5.99 and a 12 month high of $9.15. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.29 and a quick ratio of 0.29. The stock has a fifty day moving average price of $8.68 and a 200 day moving average price of $7.85. The company has a market cap of $3.47 billion, a P/E ratio of 18.79 and a beta of 0.99.

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

Insider Activity at Genworth Financial

In related news, CEO Rohit Gupta sold 86,406 shares of Genworth Financial stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $8.68, for a total transaction of $750,004.08. Following the sale, the chief executive officer directly owned 794,630 shares in the company, valued at $6,897,388.40. The trade was a 9.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.80% of the company’s stock.

Genworth Financial Company 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.