Deerfield Management Company L.P. Series C Sells 36,686 Shares of Genworth Financial, Inc. (NYSE:GNW)

Deerfield Management Company L.P. Series C lowered its holdings in Genworth Financial, Inc. (NYSE:GNW) by 76.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 11,307 shares of the financial services provider’s stock after selling 36,686 shares during the quarter. Deerfield Management Company L.P. Series C’s holdings in Genworth Financial were worth $79,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of GNW. Prudential Financial Inc. raised its stake in Genworth Financial by 70.2% in the fourth quarter. Prudential Financial Inc. now owns 5,567,978 shares of the financial services provider’s stock valued at $38,920,000 after purchasing an additional 2,296,538 shares in the last quarter. Norges Bank purchased a new stake in shares of Genworth Financial during the 4th quarter valued at $15,034,000. Boone Capital Management LLC purchased a new position in Genworth Financial in the fourth quarter worth $10,741,000. Raymond James Financial Inc. purchased a new position in Genworth Financial in the fourth quarter worth $7,496,000. Finally, Donald Smith & CO. Inc. raised its position in Genworth Financial by 3.7% during the fourth quarter. Donald Smith & CO. Inc. now owns 25,949,469 shares of the financial services provider’s stock valued at $181,387,000 after purchasing an additional 934,175 shares in the last quarter. Hedge funds and other institutional investors own 81.85% of the company’s stock.

Genworth Financial Price Performance

GNW opened at $6.92 on Thursday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $2.88 billion, a P/E ratio of 10.18 and a beta of 0.99. The stock has a 50-day moving average price of $6.76 and a 200-day moving average price of $7.01. Genworth Financial, Inc. has a 12-month low of $5.87 and a 12-month high of $7.90.

Genworth Financial (NYSE:GNW) last issued its earnings results on Wednesday, April 30th. The financial services provider reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.09). The firm had revenue of $1.76 billion during the quarter. Genworth Financial had a return on equity of 2.96% and a net margin of 4.10%.

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.