Connor Clark & Lunn Investment Management Ltd. Sells 153,464 Shares of Genworth Financial, Inc. $GNW

Connor Clark & Lunn Investment Management Ltd. cut its holdings in Genworth Financial, Inc. (NYSE:GNW) by 15.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 810,270 shares of the financial services provider’s stock after selling 153,464 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.20% of Genworth Financial worth $6,304,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Voya Investment Management LLC raised its stake in shares of Genworth Financial by 5.8% in the first quarter. Voya Investment Management LLC now owns 874,022 shares of the financial services provider’s stock valued at $6,197,000 after buying an additional 47,832 shares during the period. Caxton Associates LLP bought a new stake in Genworth Financial in the 1st quarter valued at about $3,990,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Genworth Financial by 117.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 46,976 shares of the financial services provider’s stock valued at $375,000 after purchasing an additional 25,341 shares during the last quarter. Intech Investment Management LLC boosted its position in Genworth Financial by 7.6% during the first quarter. Intech Investment Management LLC now owns 427,993 shares of the financial services provider’s stock worth $3,034,000 after purchasing an additional 30,260 shares during the period. Finally, Clare Market Investments LLC purchased a new position in shares of Genworth Financial in the second quarter worth about $521,000. Hedge funds and other institutional investors own 81.85% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on GNW shares. Keefe, Bruyette & Woods increased their target price on Genworth Financial from $9.50 to $10.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Weiss Ratings raised Genworth Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Finally, Wall Street Zen downgraded Genworth Financial from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $10.00.

Genworth Financial Stock Up 0.1%

Shares of Genworth Financial stock opened at $8.50 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.29 and a current ratio of 0.29. Genworth Financial, Inc. has a 52-week low of $5.99 and a 52-week high of $9.15. The company’s 50 day moving average price is $8.68 and its 200-day moving average price is $7.97. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of 16.03 and a beta of 1.05.

Genworth Financial (NYSE:GNW) last posted its earnings results on Wednesday, November 5th. The financial services provider reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.02). Genworth Financial had a return on equity of 1.56% and a net margin of 3.01%.The business had revenue of $1.04 billion during the quarter.

Insider Transactions at Genworth Financial

In other news, CEO Rohit Gupta sold 86,406 shares of the business’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $8.68, for a total transaction of $750,004.08. Following the sale, the chief executive officer owned 794,630 shares in the company, valued at approximately $6,897,388.40. The trade was a 9.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.80% of the company’s stock.

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.