Citigroup Inc. Sells 369,799 Shares of Genworth Financial, Inc. $GNW

Citigroup Inc. decreased its stake in shares of Genworth Financial, Inc. (NYSE:GNW) by 61.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 233,000 shares of the financial services provider’s stock after selling 369,799 shares during the quarter. Citigroup Inc. owned about 0.06% of Genworth Financial worth $2,074,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Salomon & Ludwin LLC boosted its stake in Genworth Financial by 1,731.8% during the third quarter. Salomon & Ludwin LLC now owns 3,279 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 3,100 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of Genworth Financial by 60.6% during the third quarter. Bessemer Group Inc. now owns 3,830 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 1,445 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Genworth Financial in the 2nd quarter valued at about $44,000. EverSource Wealth Advisors LLC grew its stake in shares of Genworth Financial by 140.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,063 shares of the financial services provider’s stock valued at $63,000 after buying an additional 4,708 shares during the period. Finally, Seven Mile Advisory bought a new stake in Genworth Financial in the 2nd quarter valued at about $78,000. Institutional investors own 81.85% of the company’s stock.

Wall Street Analysts Forecast Growth

GNW has been the topic of a number of research reports. Wall Street Zen downgraded Genworth Financial from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Weiss Ratings downgraded Genworth Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Genworth Financial has an average rating of “Moderate Buy” and a consensus price target of $10.00.

Genworth Financial Stock Performance

Shares of GNW opened at $8.45 on Monday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of 15.94 and a beta of 1.00. The stock has a 50 day moving average of $8.66 and a 200 day moving average of $8.69. Genworth Financial, Inc. has a 12 month low of $5.99 and a 12 month high of $9.28.

Genworth Financial (NYSE:GNW) last posted its quarterly earnings data on Monday, February 23rd. The financial services provider reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.14). The business had revenue of $1.04 billion during the quarter. Genworth Financial had a return on equity of 1.48% and a net margin of 3.05%.

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.