Deerfield Management Company L.P. Series C Lowers Stock Holdings in Genworth Financial, Inc. (NYSE:GNW)

Deerfield Management Company L.P. Series C reduced its position in shares of Genworth Financial, Inc. (NYSE:GNW - Free Report) by 76.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,307 shares of the financial services provider's stock after selling 36,686 shares during the period. 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.

A number of other large investors have also recently bought and sold shares of the business. Prudential Financial Inc. lifted its position in Genworth Financial by 70.2% in the 4th quarter. Prudential Financial Inc. now owns 5,567,978 shares of the financial services provider's stock valued at $38,920,000 after acquiring an additional 2,296,538 shares in the last quarter. Norges Bank purchased a new position in Genworth Financial during the 4th quarter valued at about $15,034,000. Boone Capital Management LLC purchased a new position in shares of Genworth Financial in the 4th quarter valued at approximately $10,741,000. Raymond James Financial Inc. purchased a new stake in Genworth Financial in the fourth quarter valued at $7,496,000. Finally, Donald Smith & CO. Inc. grew its holdings in Genworth Financial by 3.7% in 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 during the period. 81.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods lifted their price target on shares of Genworth Financial from $8.00 to $8.50 and gave the company a "market perform" rating in a research report on Tuesday.

Genworth Financial Stock Down 1.4%

NYSE:GNW traded down $0.10 during mid-day trading on Tuesday, reaching $7.11. The stock had a trading volume of 3,394,794 shares, compared to its average volume of 5,586,571. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.29 and a quick ratio of 0.29. Genworth Financial, Inc. has a 1-year low of $5.87 and a 1-year high of $7.90. The stock's 50 day simple moving average is $6.78 and its two-hundred day simple moving average is $7.01. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of 10.46 and a beta of 0.99.

Genworth Financial (NYSE:GNW - Get Free Report) last released its quarterly earnings data 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 business had revenue of $1.76 billion during the quarter. Genworth Financial had a net margin of 4.10% and a return on equity of 2.96%.

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.