Cwm LLC Raises Stake in Genworth Financial, Inc. $GNW

Cwm LLC grew its stake in shares of Genworth Financial, Inc. (NYSE:GNW) by 113.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,788 shares of the financial services provider’s stock after purchasing an additional 6,800 shares during the quarter. Cwm LLC’s holdings in Genworth Financial were worth $99,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC lifted its stake in Genworth Financial by 24.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 46,929 shares of the financial services provider’s stock worth $365,000 after acquiring an additional 9,279 shares during the period. Evolution Advisers Inc. lifted its stake in Genworth Financial by 126.3% in the second quarter. Evolution Advisers Inc. now owns 217,835 shares of the financial services provider’s stock worth $1,707,000 after acquiring an additional 121,583 shares during the period. KLP Kapitalforvaltning AS lifted its stake in Genworth Financial by 6.3% in the second quarter. KLP Kapitalforvaltning AS now owns 127,300 shares of the financial services provider’s stock worth $990,000 after acquiring an additional 7,500 shares during the period. State of Alaska Department of Revenue lifted its stake in Genworth Financial by 4.3% in the second quarter. State of Alaska Department of Revenue now owns 246,903 shares of the financial services provider’s stock worth $1,920,000 after acquiring an additional 10,289 shares during the period. Finally, Eaton Financial Holdings Company LLC purchased a new stake in Genworth Financial in the second quarter worth about $2,221,000. 81.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GNW has been the subject of a number of research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Genworth Financial in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods upped their price objective on shares of Genworth Financial from $9.50 to $10.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Finally, Wall Street Zen lowered shares of Genworth Financial from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $10.00.

Genworth Financial Stock Performance

Shares of Genworth Financial stock opened at $8.46 on Friday. The company has a market capitalization of $3.47 billion, a PE ratio of 18.79 and a beta of 0.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.29 and a current ratio of 0.29. The company has a 50-day simple moving average of $8.68 and a two-hundred day simple moving average of $7.86. Genworth Financial, Inc. has a one year low of $5.99 and a one year high of $9.15.

Genworth Financial (NYSE:GNW) last announced 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 business 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%.

Insider Buying and Selling

In other Genworth Financial news, CEO Rohit Gupta sold 86,406 shares of the business’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $8.68, for a total value of $750,004.08. Following the completion of the transaction, the chief executive officer directly owned 794,630 shares in the company, valued at approximately $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 SEC, which can be accessed through the SEC website. Corporate insiders own 1.80% of the company’s stock.

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.