Assenagon Asset Management S.A. Sells 185,400 Shares of Genworth Financial, Inc. $GNW

Assenagon Asset Management S.A. reduced its stake in Genworth Financial, Inc. (NYSE:GNW) by 9.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,857,305 shares of the financial services provider’s stock after selling 185,400 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.45% of Genworth Financial worth $16,530,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Headlands Technologies LLC acquired a new position in shares of Genworth Financial in the second quarter valued at $44,000. EverSource Wealth Advisors LLC raised its stake in shares of Genworth Financial by 140.3% in the second quarter. EverSource Wealth Advisors LLC now owns 8,063 shares of the financial services provider’s stock worth $63,000 after acquiring an additional 4,708 shares during the last quarter. Seven Mile Advisory bought a new stake in shares of Genworth Financial during the second quarter worth $78,000. Strs Ohio bought a new stake in shares of Genworth Financial during the first quarter worth approximately $82,000. Finally, Haven Private LLC acquired a new stake in shares of Genworth Financial during the second quarter worth $88,000. Institutional investors and hedge funds own 81.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on GNW shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Genworth Financial in a report on Monday. Wall Street Zen upgraded shares of Genworth Financial from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Genworth Financial from $9.50 to $10.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Genworth Financial presently has an average rating of “Buy” and an average target price of $10.00.

Genworth Financial Stock Up 0.1%

NYSE:GNW opened at $9.17 on Friday. The company has a market cap of $3.66 billion, a PE ratio of 17.30 and a beta of 1.02. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.29 and a quick ratio of 0.29. Genworth Financial, Inc. has a one year low of $5.99 and a one year high of $9.23. The firm’s 50 day simple moving average is $8.64 and its 200 day simple moving average is $8.29.

Genworth Financial (NYSE:GNW) last released its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). Genworth Financial had a net margin of 3.01% and a return on equity of 1.56%. The company had revenue of $1.04 billion during the quarter.

Genworth Financial Company Profile

Genworth Financial (NYSE: GNW) is a leading financial security company offering a broad range of insurance products. Based in Richmond, Virginia, Genworth provides individuals and families with solutions designed to protect against long-term care expenses, secure life insurance needs and support homeownership through private mortgage insurance. With operations spanning the United States, Canada and Australia, the company serves both retail and institutional clients through a diversified portfolio of risk management services.

The company’s Private Mortgage Insurance (PMI) segment offers coverage to lenders and consumers in the US, Canada and Australia, enabling homebuyers to purchase properties with lower down payments.