Acadian Asset Management LLC Buys 697,206 Shares of Genworth Financial, Inc. (NYSE:GNW)

Acadian Asset Management LLC lifted its stake in Genworth Financial, Inc. (NYSE:GNW) by 1,896.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 733,968 shares of the financial services provider’s stock after acquiring an additional 697,206 shares during the period. Acadian Asset Management LLC owned 0.17% of Genworth Financial worth $4,428,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. First Trust Direct Indexing L.P. grew its holdings in Genworth Financial by 9.9% in the 1st quarter. First Trust Direct Indexing L.P. now owns 19,670 shares of the financial services provider’s stock valued at $126,000 after buying an additional 1,780 shares during the last quarter. Covestor Ltd grew its holdings in Genworth Financial by 11.5% in the 1st quarter. Covestor Ltd now owns 18,131 shares of the financial services provider’s stock valued at $117,000 after buying an additional 1,868 shares during the last quarter. Sage Rhino Capital LLC grew its holdings in Genworth Financial by 9.8% in the 2nd quarter. Sage Rhino Capital LLC now owns 21,899 shares of the financial services provider’s stock valued at $132,000 after buying an additional 1,950 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in Genworth Financial by 29.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 8,700 shares of the financial services provider’s stock valued at $58,000 after buying an additional 2,000 shares during the last quarter. Finally, RMR Wealth Builders grew its holdings in Genworth Financial by 20.2% in the 2nd quarter. RMR Wealth Builders now owns 12,620 shares of the financial services provider’s stock valued at $76,000 after buying an additional 2,120 shares during the last quarter. 81.85% of the stock is owned by institutional investors.

Genworth Financial Price Performance

Shares of NYSE:GNW opened at $6.56 on Friday. Genworth Financial, Inc. has a 1-year low of $5.32 and a 1-year high of $7.01. The firm has a market capitalization of $2.87 billion, a PE ratio of 34.50 and a beta of 0.94. The business’s 50 day moving average is $6.57 and its 200-day moving average is $6.35. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.17.

Genworth Financial (NYSE:GNW) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.09. Genworth Financial had a return on equity of 0.25% and a net margin of 0.43%. The company had revenue of $1.77 billion for the quarter. During the same period in the previous year, the business posted $0.29 EPS.

Analysts Set New Price Targets

Separately, StockNews.com lowered Genworth Financial from a “buy” rating to a “hold” rating in a report on Friday, September 6th.

Insider Transactions at Genworth Financial

In related news, CEO Thomas J. Mcinerney sold 150,000 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $6.88, for a total value of $1,032,000.00. Following the sale, the chief executive officer now owns 4,532,954 shares of the company’s stock, valued at approximately $31,186,723.52. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.80% of the stock is owned by insiders.

Genworth Financial 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.