TD Asset Management Inc Has $767,000 Stock Position in Genworth Financial, Inc. (NYSE:GNW)

TD Asset Management Inc cut its holdings in shares of Genworth Financial, Inc. (NYSE:GNW) by 31.9% during the second quarter, HoldingsChannel.com reports. The firm owned 127,000 shares of the financial services provider’s stock after selling 59,400 shares during the quarter. TD Asset Management Inc’s holdings in Genworth Financial were worth $767,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. UniSuper Management Pty Ltd bought a new stake in Genworth Financial in the first quarter valued at about $562,000. Denali Advisors LLC increased its stake in shares of Genworth Financial by 69.8% in the 1st quarter. Denali Advisors LLC now owns 530,300 shares of the financial services provider’s stock valued at $3,410,000 after acquiring an additional 218,000 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Genworth Financial by 138.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 4,233,541 shares of the financial services provider’s stock valued at $25,571,000 after acquiring an additional 2,456,816 shares during the period. Robinson Smith Wealth Advisors LLC bought a new position in Genworth Financial during the 4th quarter worth approximately $513,000. Finally, Norges Bank bought a new stake in Genworth Financial in the fourth quarter valued at approximately $23,292,000. Institutional investors own 81.85% of the company’s stock.

Wall Street Analyst Weigh In

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

Genworth Financial Stock Up 2.1 %

NYSE:GNW opened at $6.69 on Monday. Genworth Financial, Inc. has a 1 year low of $5.32 and a 1 year high of $7.01. The stock has a 50-day moving average price of $6.58 and a two-hundred day moving average price of $6.35. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 35.21 and a beta of 0.94. 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 posted its earnings results on Wednesday, July 31st. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.09. Genworth Financial had a return on equity of 0.25% and a net margin of 0.43%. The business had revenue of $1.77 billion during the quarter. During the same period in the previous year, the company posted $0.29 earnings per share.

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 shares were 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 directly owns 4,532,954 shares of the company’s stock, valued at approximately $31,186,723.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is owned by insiders.

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.