Deutsche Bank AG Sells 54,966 Shares of Genworth Financial, Inc. $GNW

Key Points

• Deutsche Bank AG has reduced its stake in Genworth Financial, Inc. by 12.8%, owning approximately $2.67 million in shares after selling nearly 55,000 shares during the 1st quarter.
• Genworth Financial reported better-than-expected earnings of $0.16 per share, surpassing the consensus estimate by $0.11 and achieving a revenue of $1.80 billion.
• Analysts have mixed views on Genworth Financial, with one report downgraded from "hold" to "sell," while another firm raised its price target to $9.50, maintaining an "outperform" rating.

Deutsche Bank AG cut its stake in Genworth Financial, Inc. (NYSE:GNW - Free Report) by 12.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 375,887 shares of the financial services provider's stock after selling 54,966 shares during the quarter. Deutsche Bank AG owned about 0.09% of Genworth Financial worth $2,665,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Xponance Inc. lifted its position in Genworth Financial by 4.8% in the first quarter. Xponance Inc. now owns 32,525 shares of the financial services provider's stock worth $231,000 after buying an additional 1,493 shares during the last quarter. NDVR Inc. lifted its position in Genworth Financial by 8.6% in the fourth quarter. NDVR Inc. now owns 24,329 shares of the financial services provider's stock worth $170,000 after buying an additional 1,922 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Genworth Financial by 13.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 19,861 shares of the financial services provider's stock worth $139,000 after buying an additional 2,343 shares during the last quarter. Mariner LLC lifted its position in Genworth Financial by 3.8% in the fourth quarter. Mariner LLC now owns 68,689 shares of the financial services provider's stock worth $480,000 after buying an additional 2,514 shares during the last quarter. Finally, Forum Financial Management LP lifted its position in Genworth Financial by 12.6% in the fourth quarter. Forum Financial Management LP now owns 23,131 shares of the financial services provider's stock worth $162,000 after buying an additional 2,584 shares during the last quarter. 81.85% of the stock is currently owned by institutional investors.

Genworth Financial Stock Down 0.5%

Shares of GNW stock traded down $0.04 on Monday, hitting $8.64. The stock had a trading volume of 3,353,066 shares, compared to its average volume of 6,313,830. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average price of $7.88 and a 200 day moving average price of $7.22. The company has a market cap of $3.55 billion, a PE ratio of 19.20 and a beta of 1.12. Genworth Financial, Inc. has a one year low of $5.99 and a one year high of $8.73.

Genworth Financial (NYSE:GNW - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.11. The firm had revenue of $1.80 billion during the quarter. Genworth Financial had a return on equity of 1.91% and a net margin of 2.61%.

Analysts Set New Price Targets

Several analysts have recently weighed in on GNW shares. Wall Street Zen downgraded Genworth Financial from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Keefe, Bruyette & Woods lifted their target price on 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, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $9.50.

About Genworth Financial

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.