Acadian Asset Management LLC Sells 681,626 Shares of Genworth Financial, Inc. $GNW

Key Points

• Acadian Asset Management LLC reduced its holdings in Genworth Financial by 21.5%, selling 681,626 shares, and now owns approximately 2.48 million shares valued at $17.6 million.
• CEO Rohit Gupta sold 86,406 shares at an average price of $8.68, resulting in a 9.81% decrease in his stock position, which now stands at approximately $6.9 million.
• Genworth Financial's stock had a 3.0% increase recently, opening at $8.81, and the company exceeded earnings forecasts with an EPS of $0.16.

Acadian Asset Management LLC trimmed its holdings in shares of Genworth Financial, Inc. (NYSE:GNW - Free Report) by 21.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,482,879 shares of the financial services provider's stock after selling 681,626 shares during the period. Acadian Asset Management LLC owned approximately 0.60% of Genworth Financial worth $17,600,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in GNW. Mercer Global Advisors Inc. ADV purchased a new stake in Genworth Financial during the 4th quarter valued at $86,000. Deutsche Bank AG boosted its stake in shares of Genworth Financial by 34.1% in the 4th quarter. Deutsche Bank AG now owns 430,853 shares of the financial services provider's stock worth $3,012,000 after buying an additional 109,570 shares during the last quarter. Jefferies Financial Group Inc. boosted its stake in shares of Genworth Financial by 47.0% in the 4th quarter. Jefferies Financial Group Inc. now owns 29,127 shares of the financial services provider's stock worth $204,000 after buying an additional 9,306 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Genworth Financial by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 245,046 shares of the financial services provider's stock worth $1,713,000 after buying an additional 9,378 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp purchased a new position in shares of Genworth Financial in the 4th quarter worth $347,000. 81.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Genworth Financial

In related news, CEO Rohit Gupta sold 86,406 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $8.68, for a total value of $750,004.08. Following the transaction, the chief executive officer owned 794,630 shares of the company's stock, valued at $6,897,388.40. This represents a 9.81% decrease in their ownership of the stock. The sale 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 company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GNW. Keefe, Bruyette & Woods raised their price target on Genworth Financial from $9.00 to $9.50 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Wall Street Zen downgraded Genworth Financial from a "hold" rating to a "sell" rating in a research note on Sunday, September 7th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $9.50.

Genworth Financial Trading Up 0.9%

NYSE GNW traded up $0.08 during trading hours on Wednesday, hitting $8.62. 1,400,947 shares of the company were exchanged, compared to its average volume of 5,964,539. The stock has a 50-day moving average price of $8.16 and a 200 day moving average price of $7.40. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.16. Genworth Financial, Inc. has a 52 week low of $5.99 and a 52 week high of $8.85. The stock has a market cap of $3.54 billion, a PE ratio of 19.17 and a beta of 0.94.

Genworth Financial (NYSE:GNW - Get Free Report) last released its earnings results on Wednesday, July 30th. The financial services provider reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $0.11. The firm had revenue of $1.80 billion for the quarter. Genworth Financial had a return on equity of 1.91% and a net margin of 2.61%.

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.