Genworth Financial, Inc. $GNW Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its holdings in Genworth Financial, Inc. (NYSE:GNW) by 5.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 279,442 shares of the financial services provider’s stock after selling 15,004 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.07% of Genworth Financial worth $2,174,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Donald Smith & CO. Inc. increased its stake in Genworth Financial by 4.5% in the 1st quarter. Donald Smith & CO. Inc. now owns 27,114,581 shares of the financial services provider’s stock valued at $192,242,000 after buying an additional 1,165,112 shares during the period. American Century Companies Inc. boosted its position in shares of Genworth Financial by 11.6% during the 1st quarter. American Century Companies Inc. now owns 8,056,534 shares of the financial services provider’s stock worth $57,121,000 after purchasing an additional 836,192 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Genworth Financial by 1.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,269,135 shares of the financial services provider’s stock worth $37,358,000 after purchasing an additional 74,123 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Genworth Financial during the 1st quarter worth $24,661,000. Finally, Principal Financial Group Inc. boosted its position in shares of Genworth Financial by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 2,126,240 shares of the financial services provider’s stock worth $15,075,000 after purchasing an additional 55,085 shares in the last quarter. 81.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GNW has been the topic of several recent research reports. Wall Street Zen lowered shares of Genworth Financial from a “hold” rating to a “sell” rating in a research report on Saturday, October 11th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Genworth Financial in a research note on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Genworth Financial from $9.50 to $10.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Genworth Financial currently has an average rating of “Moderate Buy” and a consensus target price of $10.00.

Genworth Financial Stock Down 0.3%

NYSE GNW opened at $8.40 on Wednesday. The stock has a market cap of $3.45 billion, a PE ratio of 18.66 and a beta of 0.99. Genworth Financial, Inc. has a fifty-two week low of $5.99 and a fifty-two week high of $9.15. The business has a 50 day moving average price of $8.69 and a two-hundred day moving average price of $7.82. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.16.

Genworth Financial (NYSE:GNW) last released its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.11. The firm had revenue of $1.80 billion during the quarter. Genworth Financial had a return on equity of 1.91% and a net margin of 2.61%.

Insider Activity at Genworth Financial

In other news, CEO Rohit Gupta sold 86,406 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $8.68, for a total transaction of $750,004.08. Following the completion of the transaction, the chief executive officer directly owned 794,630 shares in the company, valued at approximately $6,897,388.40. This represents a 9.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.80% of the company’s stock.

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.