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

First Trust Advisors LP increased its stake in shares of Genworth Financial, Inc. (NYSE:GNW) by 50.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 296,683 shares of the financial services provider’s stock after purchasing an additional 99,571 shares during the quarter. First Trust Advisors LP owned 0.08% of Genworth Financial worth $2,409,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Larson Financial Group LLC boosted its stake in shares of Genworth Financial by 12,597.7% in the 3rd quarter. Larson Financial Group LLC now owns 5,587 shares of the financial services provider’s stock valued at $50,000 after buying an additional 5,543 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Genworth Financial during the second quarter worth approximately $44,000. Atlas Wealth LLC purchased a new stake in shares of Genworth Financial during the first quarter worth approximately $51,000. Danske Bank A S acquired a new stake in Genworth Financial in the third quarter valued at approximately $60,000. Finally, Rockefeller Capital Management L.P. raised its holdings in Genworth Financial by 124.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 7,159 shares of the financial services provider’s stock valued at $65,000 after acquiring an additional 3,966 shares in the last quarter. Hedge funds and other institutional investors own 81.85% of the company’s stock.

Genworth Financial Trading Down 0.4%

GNW opened at $9.67 on Friday. 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 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 business’s 50-day simple moving average is $9.39 and its 200-day simple moving average is $8.89.

Genworth Financial (NYSE:GNW) last posted its earnings results on Wednesday, August 5th. The financial services provider reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.01. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Genworth Financial had a return on equity of 1.06% and a net margin of 2.87%. As a group, equities research analysts expect that Genworth Financial, Inc. will post 1.1 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Robert P. Restrepo, Jr. sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $9.12, for a total transaction of $456,000.00. Following the completion of the sale, the director owned 92,655 shares in the company, valued at approximately $845,013.60. The trade was a 35.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas J. Mcinerney sold 100,000 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $9.27, for a total transaction of $927,000.00. Following the completion of the transaction, the chief executive officer owned 5,368,883 shares of the company’s stock, valued at approximately $49,769,545.41. The trade was a 1.83% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

About Genworth Financial

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.