Pallas Capital Advisors LLC Cuts Stake in Genworth Financial, Inc. (NYSE:GNW)

Pallas Capital Advisors LLC lessened its holdings in Genworth Financial, Inc. (NYSE:GNW) by 21.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,019 shares of the financial services provider’s stock after selling 7,630 shares during the period. Pallas Capital Advisors LLC’s holdings in Genworth Financial were worth $194,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. raised its stake in shares of Genworth Financial by 8.8% in the third quarter. Assenagon Asset Management S.A. now owns 4,605,054 shares of the financial services provider’s stock valued at $31,545,000 after acquiring an additional 371,513 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Genworth Financial by 0.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 912,090 shares of the financial services provider’s stock valued at $6,248,000 after purchasing an additional 7,502 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Genworth Financial by 47.6% in the 3rd quarter. Blue Trust Inc. now owns 19,018 shares of the financial services provider’s stock valued at $130,000 after buying an additional 6,130 shares during the period. nVerses Capital LLC grew its position in shares of Genworth Financial by 106.4% during the third quarter. nVerses Capital LLC now owns 29,100 shares of the financial services provider’s stock worth $199,000 after buying an additional 15,000 shares in the last quarter. Finally, Inspire Investing LLC increased its stake in shares of Genworth Financial by 4.8% during the third quarter. Inspire Investing LLC now owns 60,633 shares of the financial services provider’s stock worth $415,000 after buying an additional 2,798 shares during the period. Hedge funds and other institutional investors own 81.85% of the company’s stock.

Insider Buying and Selling

In other Genworth Financial news, CEO Thomas J. Mcinerney sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $6.88, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is owned by company insiders.

Genworth Financial Stock Performance

Shares of GNW stock opened at $6.59 on Friday. The company has a market cap of $2.84 billion, a P/E ratio of 94.07 and a beta of 0.94. The firm has a fifty day moving average price of $6.86 and a 200 day moving average price of $6.51. 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, Inc. has a 12 month low of $5.32 and a 12 month high of $7.25.

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

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Genworth Financial from a “buy” rating to a “hold” rating in a research note on Tuesday.

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.