Genworth Financial, Inc. $GNW Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its position in Genworth Financial, Inc. (NYSE:GNW) by 1.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,744,402 shares of the financial services provider’s stock after selling 33,524 shares during the quarter. Bank of New York Mellon Corp’s holdings in Genworth Financial were worth $21,351,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Nuveen LLC purchased a new position in shares of Genworth Financial in the first quarter valued at approximately $24,661,000. Donald Smith & CO. Inc. increased its stake in Genworth Financial by 4.5% during the 1st quarter. Donald Smith & CO. Inc. now owns 27,114,581 shares of the financial services provider’s stock worth $192,242,000 after buying an additional 1,165,112 shares during the period. American Century Companies Inc. lifted its holdings in 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 buying an additional 836,192 shares in the last quarter. Trexquant Investment LP boosted its position in Genworth Financial by 162.4% in the 1st quarter. Trexquant Investment LP now owns 1,330,661 shares of the financial services provider’s stock valued at $9,434,000 after buying an additional 823,470 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its position in Genworth Financial by 56.8% in the 1st quarter. Cubist Systematic Strategies LLC now owns 1,765,607 shares of the financial services provider’s stock valued at $12,518,000 after buying an additional 639,676 shares during the period. 81.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Wall Street Zen raised Genworth Financial from a “sell” rating to a “hold” rating in a research report on Saturday. Keefe, Bruyette & Woods boosted their target price on Genworth Financial from $9.50 to $10.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Finally, Weiss Ratings raised Genworth Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, November 10th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $10.00.

Insiders Place Their Bets

In related news, CEO Rohit Gupta sold 86,406 shares of the business’s 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 sale, the chief executive officer owned 794,630 shares in the company, valued at $6,897,388.40. The trade was a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is currently owned by insiders.

Genworth Financial Stock Performance

Shares of GNW stock opened at $8.54 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.15. The firm has a fifty day moving average price of $8.67 and a 200 day moving average price of $7.99. The company has a market cap of $3.41 billion, a P/E ratio of 16.10 and a beta of 1.05. Genworth Financial, Inc. has a 12 month low of $5.99 and a 12 month high of $9.15.

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

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.