Arrowstreet Capital Limited Partnership Decreases Stake in Genworth Financial, Inc. $GNW

Key Points

• Arrowstreet Capital reduced its Genworth Financial stake by 48.4% in the first quarter, selling 460,513 shares and retaining 491,178 shares worth approximately $4.0 million. Institutional investors collectively own 81.85% of GNW.
• Genworth’s CEO and a director sold a combined 150,000 shares in May for roughly $1.38 million. Company insiders currently own 1.80% of the stock.
• Genworth beat first-quarter EPS expectations, reporting $0.28 versus the $0.18 consensus estimate, while revenue came in at $1.04 billion. Analysts maintain a consensus “Hold” rating with a $12.00 target price.

Arrowstreet Capital Limited Partnership cut its stake in shares of Genworth Financial, Inc. (NYSE:GNW - Free Report) by 48.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 491,178 shares of the financial services provider's stock after selling 460,513 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.13% of Genworth Financial worth $3,988,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in GNW. Norges Bank purchased a new position in Genworth Financial in the fourth quarter valued at about $45,912,000. Gendell Jeffrey L grew its holdings in shares of Genworth Financial by 168.0% in the 4th quarter. Gendell Jeffrey L now owns 6,485,888 shares of the financial services provider's stock worth $58,568,000 after acquiring an additional 4,065,684 shares during the period. UBS Group AG grew its holdings in shares of Genworth Financial by 621.2% in the 4th quarter. UBS Group AG now owns 3,598,588 shares of the financial services provider's stock worth $32,495,000 after acquiring an additional 3,099,582 shares during the period. Invesco Ltd. increased its stake in Genworth Financial by 41.0% in the 2nd quarter. Invesco Ltd. now owns 4,291,220 shares of the financial services provider's stock valued at $33,386,000 after purchasing an additional 1,248,374 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in Genworth Financial by 173.7% in 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 purchasing an additional 754,105 shares in the last quarter. Hedge funds and other institutional investors own 81.85% of the company's stock.

Insider Buying and Selling

In related news, CEO Thomas J. Mcinerney sold 100,000 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer owned 5,368,883 shares in the company, valued at approximately $49,769,545.41. This trade represents a 1.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert P. Restrepo, Jr. sold 50,000 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $9.12, for a total value of $456,000.00. Following the transaction, the director owned 92,655 shares in the company, valued at $845,013.60. This trade represents a 35.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.80% of the stock is currently owned by company insiders.

Genworth Financial Stock Performance

Genworth Financial stock opened at $9.81 on Tuesday. Genworth Financial, Inc. has a fifty-two week low of $7.74 and a fifty-two week high of $10.20. The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of 18.86 and a beta of 0.85. The stock has a fifty day moving average of $9.32 and a two-hundred day moving average of $8.86. 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 (NYSE:GNW - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.10. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.72 billion. Genworth Financial had a return on equity of 1.73% and a net margin of 2.96%. On average, analysts anticipate that Genworth Financial, Inc. will post 1.1 EPS for the current fiscal year.

Analyst Ratings Changes

GNW has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods boosted their target price on Genworth Financial from $11.00 to $12.00 and gave the stock an "outperform" rating in a research report on Monday, July 13th. Zacks Research upgraded Genworth Financial to a "hold" rating in a research report on Wednesday, May 27th. Wall Street Zen upgraded Genworth Financial from a "sell" rating to a "hold" rating in a research report on Sunday, July 12th. Finally, Weiss Ratings downgraded Genworth Financial from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, July 17th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Genworth Financial currently has a consensus rating of "Hold" and a consensus target price of $12.00.

Genworth Financial Company Profile

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.

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