Acadian Asset Management LLC Cuts Position in 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 position in shares of Genworth Financial, Inc. (NYSE:GNW - Free Report) by 21.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm 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 about 0.60% of Genworth Financial worth $17,600,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in GNW. Nuveen LLC purchased a new position in Genworth Financial in the first quarter valued at approximately $24,661,000. Nuveen Asset Management LLC increased its stake in Genworth Financial by 106.9% in the fourth quarter. Nuveen Asset Management LLC now owns 2,663,077 shares of the financial services provider's stock valued at $18,615,000 after purchasing an additional 1,375,637 shares during the last quarter. Donald Smith & CO. Inc. increased its stake in Genworth Financial by 4.5% in the first quarter. Donald Smith & CO. Inc. now owns 27,114,581 shares of the financial services provider's stock valued at $192,242,000 after purchasing an additional 1,165,112 shares during the last quarter. American Century Companies Inc. increased its stake in Genworth Financial by 11.6% in the first quarter. American Century Companies Inc. now owns 8,056,534 shares of the financial services provider's stock valued at $57,121,000 after purchasing an additional 836,192 shares during the last quarter. Finally, Trexquant Investment LP increased its stake in Genworth Financial by 162.4% in the first quarter. Trexquant Investment LP now owns 1,330,661 shares of the financial services provider's stock valued at $9,434,000 after purchasing an additional 823,470 shares during the last quarter. 81.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GNW has been the topic of several recent analyst reports. Keefe, Bruyette & Woods increased their price target on shares of Genworth Financial from $9.00 to $9.50 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Wall Street Zen lowered shares of Genworth Financial from a "hold" rating to a "sell" rating in a research note on Sunday, September 7th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Genworth Financial currently has a consensus rating of "Buy" and an average target price of $9.50.

Genworth Financial Stock Performance

Shares of NYSE GNW traded down $0.11 during mid-day trading on Monday, hitting $8.69. 3,392,109 shares of the company were exchanged, compared to its average volume of 6,002,995. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.16. The stock has a 50 day simple moving average of $8.13 and a 200-day simple moving average of $7.38. Genworth Financial, Inc. has a 1-year low of $5.99 and a 1-year high of $8.85. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of 19.31 and a beta of 0.94.

Genworth Financial (NYSE:GNW - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.11. Genworth Financial had a return on equity of 1.91% and a net margin of 2.61%.The firm had revenue of $1.80 billion during the quarter.

Insider Buying and Selling at Genworth Financial

In other Genworth Financial news, CEO Rohit Gupta sold 86,406 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer owned 794,630 shares in the company, valued at approximately $6,897,388.40. This represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.80% of the stock is currently owned by corporate insiders.

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.