Genworth Financial, Inc. $GNW Stock Holdings Increased by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC increased its stake in Genworth Financial by 56.8%, purchasing an additional 639,676 shares, bringing its total ownership to approximately 1.77 million shares valued at $12.5 million.
• CEO Rohit Gupta sold 86,406 shares of Genworth Financial, reducing his ownership by 9.81%, with a transaction value of about $750,004.
• Analysts have shown increased confidence in Genworth Financial, with Wall Street Zen upgrading the stock from a "sell" to a "hold" rating and Keefe, Bruyette & Woods raising the price target to $9.50.

Cubist Systematic Strategies LLC raised its stake in Genworth Financial, Inc. (NYSE:GNW - Free Report) by 56.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,765,607 shares of the financial services provider's stock after acquiring an additional 639,676 shares during the period. Cubist Systematic Strategies LLC owned 0.43% of Genworth Financial worth $12,518,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Royal Bank of Canada lifted its holdings in shares of Genworth Financial by 75.8% in the 1st quarter. Royal Bank of Canada now owns 118,058 shares of the financial services provider's stock worth $837,000 after purchasing an additional 50,911 shares during the last quarter. DRW Securities LLC acquired a new stake in Genworth Financial in the first quarter worth $184,000. Bracebridge Capital LLC lifted its stake in Genworth Financial by 12.6% in the first quarter. Bracebridge Capital LLC now owns 1,969,200 shares of the financial services provider's stock valued at $13,962,000 after buying an additional 220,000 shares during the last quarter. Trexquant Investment LP lifted 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 buying an additional 823,470 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp boosted its holdings in shares of Genworth Financial by 609.1% during the first quarter. OMERS ADMINISTRATION Corp now owns 352,400 shares of the financial services provider's stock valued at $2,499,000 after acquiring an additional 302,700 shares during the period. 81.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Rohit Gupta sold 86,406 shares of Genworth Financial stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $8.68, for a total transaction of $750,004.08. Following the transaction, the chief executive officer directly owned 794,630 shares in the company, valued at approximately $6,897,388.40. This trade represents a 9.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.80% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on GNW shares. Wall Street Zen raised shares of Genworth Financial from a "sell" rating to a "hold" rating in a report on Saturday, August 30th. Keefe, Bruyette & Woods upped their target price on shares of Genworth Financial from $9.00 to $9.50 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $9.50.

Genworth Financial Price Performance

GNW stock traded down $0.09 during trading on Friday, hitting $8.58. The company had a trading volume of 4,580,225 shares, compared to its average volume of 3,992,361. The business has a 50 day moving average of $8.04 and a 200 day moving average of $7.30. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of 19.06 and a beta of 0.94. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.16. Genworth Financial, Inc. has a fifty-two week low of $5.99 and a fifty-two week high of $8.74.

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

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.