First Trust Advisors LP Grows Position in Genworth Financial, Inc. $GNW

First Trust Advisors LP boosted its position in shares of Genworth Financial, Inc. (NYSE:GNWFree Report) by 50.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 296,683 shares of the financial services provider’s stock after buying an additional 99,571 shares during the period. First Trust Advisors LP’s holdings in Genworth Financial were worth $2,409,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Genworth Financial during the 4th quarter worth $45,912,000. Gendell Jeffrey L grew its position in Genworth Financial by 168.0% during the 4th quarter. Gendell Jeffrey L now owns 6,485,888 shares of the financial services provider’s stock worth $58,568,000 after purchasing an additional 4,065,684 shares during the last quarter. UBS Group AG increased its stake in Genworth Financial by 621.2% in the fourth quarter. UBS Group AG now owns 3,598,588 shares of the financial services provider’s stock valued at $32,495,000 after purchasing an additional 3,099,582 shares during the period. Invesco Ltd. increased its stake in Genworth Financial by 41.0% in the second quarter. Invesco Ltd. now owns 4,291,220 shares of the financial services provider’s stock valued at $33,386,000 after purchasing an additional 1,248,374 shares during the period. Finally, SG Americas Securities LLC raised its holdings in shares of Genworth Financial by 173.7% in the first quarter. SG Americas Securities LLC now owns 1,188,288 shares of the financial services provider’s stock valued at $9,649,000 after buying an additional 754,105 shares during the last quarter. Hedge funds and other institutional investors own 81.85% of the company’s stock.

Insider Transactions at Genworth Financial

In related news, Director Robert P. Restrepo, Jr. sold 50,000 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $9.12, for a total value of $456,000.00. Following the completion of the sale, the director owned 92,655 shares in the company, valued at $845,013.60. This trade represents a 35.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas J. Mcinerney sold 100,000 shares of Genworth Financial stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $9.27, for a total value of $927,000.00. Following the completion of the sale, the chief executive officer directly owned 5,368,883 shares in the company, valued at $49,769,545.41. This represents a 1.83% decrease in their position. The SEC filing for this sale provides additional information. 1.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GNW. Weiss Ratings upgraded shares of Genworth Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. Wall Street Zen raised Genworth Financial from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Keefe, Bruyette & Woods increased their price objective on Genworth Financial from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. Finally, Zacks Research upgraded Genworth Financial to a “hold” rating in a research note on Wednesday, May 27th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $12.00.

Check Out Our Latest Analysis on Genworth Financial

Genworth Financial Stock Down 0.4%

Shares of Genworth Financial stock opened at $9.67 on Friday. Genworth Financial, Inc. has a one year low of $7.84 and a one year high of $10.20. The company has a market cap of $3.70 billion, a P/E ratio of 18.60 and a beta of 0.87. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a fifty day moving average of $9.39 and a two-hundred day moving average of $8.89.

Genworth Financial (NYSE:GNWGet Free Report) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.01. Genworth Financial had a net margin of 2.87% and a return on equity of 1.06%. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.90 billion. On average, analysts forecast that Genworth Financial, Inc. will post 1.1 earnings per share for the current year.

About Genworth Financial

(Free Report)

Genworth Financial (NYSE: GNW) is a leading financial security company offering a broad range of insurance products. Based in Richmond, Virginia, Genworth provides individuals and families with solutions designed to protect against long-term care expenses, secure life insurance needs and support homeownership through private mortgage insurance. With operations spanning the United States, Canada and Australia, the company serves both retail and institutional clients through a diversified portfolio of risk management services.

The company’s Private Mortgage Insurance (PMI) segment offers coverage to lenders and consumers in the US, Canada and Australia, enabling homebuyers to purchase properties with lower down payments.

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Institutional Ownership by Quarter for Genworth Financial (NYSE:GNW)

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