Vanguard Group Inc. Reduces Stake in Genworth Financial, Inc. (NYSE:GNW)

Vanguard Group Inc. cut its stake in shares of Genworth Financial, Inc. (NYSE:GNW) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,895,552 shares of the financial services provider’s stock after selling 1,361,948 shares during the period. Vanguard Group Inc. owned 11.95% of Genworth Financial worth $353,342,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of GNW. AQR Capital Management LLC increased its holdings in Genworth Financial by 14.2% during the 3rd quarter. AQR Capital Management LLC now owns 1,752,247 shares of the financial services provider’s stock worth $10,268,000 after acquiring an additional 217,556 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in Genworth Financial during the fourth quarter valued at $22,482,000. Daiwa Securities Group Inc. bought a new stake in Genworth Financial during the fourth quarter valued at $33,000. Denali Advisors LLC grew its position in Genworth Financial by 270.0% during the fourth quarter. Denali Advisors LLC now owns 312,300 shares of the financial services provider’s stock worth $2,086,000 after buying an additional 227,900 shares in the last quarter. Finally, Natixis Advisors L.P. increased its stake in Genworth Financial by 19.6% in the 3rd quarter. Natixis Advisors L.P. now owns 109,863 shares of the financial services provider’s stock worth $644,000 after acquiring an additional 18,025 shares during the last quarter. 81.85% of the stock is owned by hedge funds and other institutional investors.

Genworth Financial Stock Performance

NYSE GNW opened at $6.03 on Friday. Genworth Financial, Inc. has a 52-week low of $4.87 and a 52-week high of $6.93. The company has a fifty day moving average of $6.25 and a 200-day moving average of $6.28. The company has a market capitalization of $2.64 billion, a P/E ratio of 31.74 and a beta of 1.00. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.29 and a current ratio of 0.29.

Genworth Financial (NYSE:GNW) last released its earnings results on Wednesday, May 1st. The financial services provider reported $0.19 earnings per share for the quarter. The company had revenue of $1.86 billion during the quarter. Genworth Financial had a negative return on equity of 0.21% and a net margin of 1.24%.

Insiders Place Their Bets

In other news, CEO Thomas J. Mcinerney sold 200,000 shares of Genworth Financial stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $6.27, for a total value of $1,254,000.00. Following the transaction, the chief executive officer now owns 4,361,980 shares in the company, valued at $27,349,614.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods boosted their price objective on Genworth Financial from $6.50 to $7.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th.

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.