Bessemer Group Inc. Buys 209,662 Shares of Genworth Financial, Inc. $GNW

Key Points

• Bessemer Group Inc. increased its Genworth Financial stake by 32.4% in the first quarter, buying 209,662 additional shares and bringing its total holdings to 856,816 shares worth about $6.96 million.
• Genworth Financial reported Q1 earnings of $0.28 per share, beating analyst expectations of $0.18, though revenue came in below estimates at $1.04 billion versus $1.72 billion expected.
• Analyst sentiment is mixed but cautious: the stock has a consensus “Hold” rating with an average price target of $12.00, while company insiders also sold shares in May.

Bessemer Group Inc. grew its stake in Genworth Financial, Inc. (NYSE:GNW - Free Report) by 32.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 856,816 shares of the financial services provider's stock after purchasing an additional 209,662 shares during the quarter. Bessemer Group Inc. owned about 0.22% of Genworth Financial worth $6,958,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. UBS Group AG raised its stake in Genworth Financial by 621.2% in the fourth quarter. UBS Group AG now owns 3,598,588 shares of the financial services provider's stock worth $32,495,000 after buying an additional 3,099,582 shares in the last quarter. Fifth Third Bancorp lifted its holdings in Genworth Financial by 21,643.4% in the first quarter. Fifth Third Bancorp now owns 562,936 shares of the financial services provider's stock worth $4,571,000 after buying an additional 560,347 shares during the period. Hsbc Holdings PLC bought a new stake in Genworth Financial during the 4th quarter valued at approximately $1,360,000. SG Americas Securities LLC boosted its position in Genworth Financial by 334.6% during the 4th quarter. SG Americas Securities LLC now owns 434,183 shares of the financial services provider's stock valued at $3,921,000 after acquiring an additional 334,280 shares in the last quarter. Finally, Comerica Bank grew its holdings in shares of Genworth Financial by 72.4% during the 4th quarter. Comerica Bank now owns 589,535 shares of the financial services provider's stock worth $5,324,000 after acquiring an additional 247,601 shares during the period. 81.85% of the stock is currently owned by institutional investors.

Genworth Financial Trading Down 0.0%

NYSE:GNW opened at $10.09 on Monday. The firm has a market capitalization of $3.86 billion, a P/E ratio of 19.40 and a beta of 0.85. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.29 and a quick ratio of 0.29. Genworth Financial, Inc. has a one year low of $7.32 and a one year high of $10.15. The company's 50-day simple moving average is $9.14 and its 200 day simple moving average is $8.78.

Genworth Financial (NYSE:GNW - Get Free Report) last announced its earnings results on Tuesday, May 5th. The financial services provider reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.10. Genworth Financial had a net margin of 2.96% and a return on equity of 1.73%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.72 billion. As a group, analysts forecast that Genworth Financial, Inc. will post 1.1 EPS for the current fiscal year.

Analyst Ratings Changes

GNW has been the subject of several research reports. Wall Street Zen raised Genworth Financial from a "sell" rating to a "hold" rating in a research report on Sunday, July 12th. Keefe, Bruyette & Woods lifted their price target on Genworth Financial from $11.00 to $12.00 and gave the company an "outperform" rating in a research report on Monday, July 13th. Weiss Ratings lowered Genworth Financial from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday. Finally, Zacks Research raised Genworth Financial to a "hold" rating in a research note on Wednesday, May 27th. One investment 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 an average price target of $12.00.

Insider Activity at Genworth Financial

In other Genworth Financial news, CEO Thomas J. Mcinerney sold 100,000 shares of the business's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $9.27, for a total value of $927,000.00. Following the sale, the chief executive officer directly owned 5,368,883 shares of the company's stock, valued at approximately $49,769,545.41. The trade was a 1.83% 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. Also, Director Robert P. Restrepo, Jr. sold 50,000 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $9.12, for a total value of $456,000.00. Following the completion of the sale, the director directly owned 92,655 shares in the company, valued at approximately $845,013.60. This represents a 35.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.80% of the company's stock.

About Genworth Financial

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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