Bank of New York Mellon Corp Trims Stock Holdings in Genworth Financial, Inc. (NYSE:GNW)

Bank of New York Mellon Corp trimmed its position in shares of Genworth Financial, Inc. (NYSE:GNW - Free Report) by 3.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,777,926 shares of the financial services provider's stock after selling 96,236 shares during the period. Bank of New York Mellon Corp owned 0.67% of Genworth Financial worth $19,695,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in GNW. Byrne Asset Management LLC grew its stake in Genworth Financial by 69.5% during the first quarter. Byrne Asset Management LLC now owns 7,595 shares of the financial services provider's stock worth $54,000 after buying an additional 3,115 shares in the last quarter. Pennington Partners & CO. LLC acquired a new stake in Genworth Financial in the fourth quarter valued at approximately $84,000. Landscape Capital Management L.L.C. acquired a new stake in shares of Genworth Financial during the 4th quarter valued at $85,000. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Genworth Financial during the 4th quarter valued at $86,000. Finally, GTS Securities LLC acquired a new stake in Genworth Financial during the 4th quarter worth approximately $93,000. 81.85% of the stock is currently owned by institutional investors and hedge funds.

Genworth Financial Stock Performance

Shares of GNW remained flat at $7.45 on Friday. The company had a trading volume of 5,568,349 shares, compared to its average volume of 4,707,381. Genworth Financial, Inc. has a one year low of $5.99 and a one year high of $8.08. The business has a 50-day moving average price of $7.30 and a 200 day moving average price of $7.03. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market capitalization of $3.09 billion, a PE ratio of 14.90 and a beta of 1.06.

Genworth Financial (NYSE:GNW - Get Free Report) last released its quarterly earnings data 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 during the quarter. Genworth Financial had a net margin of 2.97% and a return on equity of 2.53%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GNW. Wall Street Zen downgraded shares of Genworth Financial from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Keefe, Bruyette & Woods boosted their price objective on Genworth Financial from $9.00 to $9.50 and gave the company an "outperform" rating in a research note on Wednesday, July 9th.

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.