209,356 Shares in Genworth Financial, Inc. $GNW Acquired by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP acquired 209,356 Genworth Financial shares during the second quarter, valued at approximately $1.98 million. Institutional investors collectively own 81.85% of the company.
• Genworth reported quarterly earnings of $0.29 per share, slightly exceeding analyst expectations of $0.28, while revenue totaled $1.03 billion. Analysts have an overall “Buy” rating and a consensus price target of $12.00.
• Genworth shares opened at $9.99, down 5.7%, while CEO Thomas J. McInerney and EVP Melissa Hagerman recently sold company stock. Insiders own approximately 1.80% of shares.

Engineers Gate Manager LP acquired a new stake in Genworth Financial, Inc. (NYSE:GNW - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 209,356 shares of the financial services provider's stock, valued at approximately $1,983,000. Engineers Gate Manager LP owned about 0.06% of Genworth Financial as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of GNW. Donald Smith & CO. Inc. purchased a new stake in shares of Genworth Financial during the second quarter valued at $212,906,000. Norges Bank purchased a new position in Genworth Financial in the 4th quarter worth about $45,912,000. Bank of New York Mellon Corp purchased a new position in Genworth Financial in the 2nd quarter worth about $22,798,000. Bank of America Corp DE lifted its holdings in Genworth Financial by 133.2% during the 1st quarter. Bank of America Corp DE now owns 2,158,625 shares of the financial services provider's stock valued at $17,528,000 after buying an additional 1,232,931 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in Genworth Financial by 173.7% during the 1st 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 in the last quarter. Hedge funds and other institutional investors own 81.85% of the company's stock.

Genworth Financial Stock Down 5.7%

Shares of Genworth Financial stock opened at $9.99 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.29 and a quick ratio of 0.29. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of 19.22 and a beta of 0.85. The firm's 50-day moving average is $9.96 and its two-hundred day moving average is $9.18. Genworth Financial, Inc. has a 1 year low of $7.84 and a 1 year high of $10.69.

Genworth Financial (NYSE:GNW - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.29 EPS 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 during the quarter, compared to analyst estimates of $1.90 billion. As a group, research analysts expect that Genworth Financial, Inc. will post 1.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on GNW shares. Weiss Ratings upgraded shares of Genworth Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, September 2nd. Zacks Research raised shares of Genworth Financial to a "hold" rating in a research note on Wednesday, May 27th. Wall Street Zen upgraded Genworth Financial from a "sell" rating to a "hold" rating in a report on Sunday, July 12th. Finally, Keefe, Bruyette & Woods raised Genworth Financial from a "moderate buy" rating to a "strong-buy" rating in a research note on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $12.00.

Insider Activity at Genworth Financial

In other Genworth Financial news, CEO Thomas J. Mcinerney sold 100,000 shares of the company's stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $10.53, for a total transaction of $1,053,000.00. Following the completion of the sale, the chief executive officer owned 5,068,883 shares in the company, valued at $53,375,337.99. This represents a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Melissa Hagerman sold 14,708 shares of the stock in a transaction on Monday, August 24th. The shares were sold at an average price of $9.91, for a total value of $145,756.28. Following the sale, the executive vice president directly owned 192,539 shares in the company, valued at $1,908,061.49. This trade represents a 7.10% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.80% of the company's stock.

Genworth Financial Profile

Genworth Financial, Inc is an insurance holding company headquartered in Richmond, Virginia. The company's primary business is U.S. mortgage insurance, which helps lenders manage credit risk and enables eligible homebuyers to purchase homes with down payments below traditional requirements. This business operates through Enact Holdings, Inc, a publicly traded subsidiary in which Genworth remains a significant shareholder.

Genworth also manages a substantial portfolio of long-term care insurance policies, providing benefits that may help cover nursing care, assisted living, home health care and other extended-care services.

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