Genworth Financial, Inc. (NYSE:GNW) Shares Sold by Bank of America Corp DE

Bank of America Corp DE cut its stake in Genworth Financial, Inc. (NYSE:GNW - Free Report) by 49.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 267,877 shares of the financial services provider's stock after selling 264,525 shares during the period. Bank of America Corp DE owned approximately 0.06% of Genworth Financial worth $1,872,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of GNW. Barclays PLC boosted its position in shares of Genworth Financial by 291.2% in the third quarter. Barclays PLC now owns 744,853 shares of the financial services provider's stock worth $5,103,000 after acquiring an additional 554,462 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Genworth Financial by 28.5% in the fourth quarter. Blue Trust Inc. now owns 24,438 shares of the financial services provider's stock worth $167,000 after acquiring an additional 5,420 shares during the last quarter. KBC Group NV boosted its position in shares of Genworth Financial by 85.3% in the fourth quarter. KBC Group NV now owns 22,107 shares of the financial services provider's stock worth $155,000 after acquiring an additional 10,174 shares during the last quarter. DAVENPORT & Co LLC acquired a new stake in shares of Genworth Financial in the fourth quarter worth approximately $320,000. Finally, Byrne Asset Management LLC boosted its position in shares of Genworth Financial by 148.9% in the fourth quarter. Byrne Asset Management LLC now owns 4,480 shares of the financial services provider's stock worth $31,000 after acquiring an additional 2,680 shares during the last quarter. 81.85% of the stock is owned by institutional investors and hedge funds.

Genworth Financial Trading Up 2.7%

GNW stock traded up $0.18 during midday trading on Friday, reaching $6.96. 7,934,897 shares of the company's stock traded hands, compared to its average volume of 4,217,686. The company has a market capitalization of $2.88 billion, a P/E ratio of 10.24 and a beta of 1.03. 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 fifty-two week low of $5.87 and a fifty-two week high of $7.90. The business has a 50-day moving average price of $6.82 and a two-hundred day moving average price of $7.01.

Genworth Financial (NYSE:GNW - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.21 by ($0.09). The business had revenue of $1.76 billion for the quarter. Genworth Financial had a net margin of 4.10% and a return on equity of 2.96%.

Analysts Set New Price Targets

GNW has been the topic of several research analyst reports. Wall Street Zen cut shares of Genworth Financial from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. 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, May 13th.

Genworth Financial Company 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.