Amalgamated Bank Sells 8,534 Shares of Genworth Financial, Inc. (NYSE:GNW)

Amalgamated Bank reduced its stake in Genworth Financial, Inc. (NYSE:GNW) by 6.0% during the second quarter, Holdings Channel.com reports. The fund owned 134,126 shares of the financial services provider’s stock after selling 8,534 shares during the period. Amalgamated Bank’s holdings in Genworth Financial were worth $810,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new position in shares of Genworth Financial in the 1st quarter worth approximately $25,000. SageView Advisory Group LLC bought a new position in Genworth Financial during the first quarter worth $30,000. Nomura Asset Management Co. Ltd. lifted its holdings in Genworth Financial by 29.9% in the fourth 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 period. Empowered Funds LLC acquired a new position in Genworth Financial in the first quarter valued at $67,000. Finally, Heritage Wealth Advisors bought a new stake in Genworth Financial during the first quarter valued at $74,000. 81.85% of the stock is currently owned by institutional investors.

Genworth Financial Price Performance

Shares of NYSE:GNW opened at $6.77 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.29 and a current ratio of 0.29. The business’s 50 day simple moving average is $6.69 and its two-hundred day simple moving average is $6.39. Genworth Financial, Inc. has a 52-week low of $5.32 and a 52-week high of $7.01. The firm has a market cap of $2.96 billion, a P/E ratio of 35.58 and a beta of 0.94.

Genworth Financial (NYSE:GNW) last issued its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.28 earnings per share for the quarter, beating 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 business had revenue of $1.77 billion for the quarter. During the same quarter last year, the business posted $0.29 earnings per share.

Wall Street Analyst Weigh In

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

Insider Activity at Genworth Financial

In other Genworth Financial news, CEO Thomas J. Mcinerney sold 150,000 shares of the company’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 completion of the transaction, the chief executive officer now owns 4,532,954 shares in the company, valued at approximately $31,186,723.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is currently owned by company insiders.

Genworth Financial Company 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.