Genworth Financial, Inc. $GNW Shares Sold by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP reduced its stake in Genworth Financial by 5.6%, owning approximately 27.37 million shares valued at $194 million after selling over 1.6 million shares in the first quarter.
• Other institutional investors also adjusted their stakes, with Public Sector Pension Investment Board increasing its position by 27.3% during the same period.
• Genworth Financial reported earnings of $0.16 per share in its last quarter, exceeding estimates and indicating a net margin of 2.61%.

Dimensional Fund Advisors LP decreased its stake in Genworth Financial, Inc. (NYSE:GNW - Free Report) by 5.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,365,511 shares of the financial services provider's stock after selling 1,631,096 shares during the quarter. Dimensional Fund Advisors LP owned approximately 6.60% of Genworth Financial worth $194,019,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Fox Run Management L.L.C. purchased a new stake in shares of Genworth Financial in the first quarter worth about $336,000. HighTower Advisors LLC boosted its stake in shares of Genworth Financial by 20.0% in the first quarter. HighTower Advisors LLC now owns 21,111 shares of the financial services provider's stock worth $150,000 after buying an additional 3,521 shares during the last quarter. Public Sector Pension Investment Board boosted its stake in shares of Genworth Financial by 27.3% in the first quarter. Public Sector Pension Investment Board now owns 1,354,197 shares of the financial services provider's stock worth $9,601,000 after buying an additional 290,286 shares during the last quarter. Alta Fundamental Advisers LLC boosted its position in Genworth Financial by 38.3% during the first quarter. Alta Fundamental Advisers LLC now owns 531,080 shares of the financial services provider's stock worth $3,765,000 after purchasing an additional 147,080 shares in the last quarter. Finally, Donald Smith & CO. Inc. boosted its position in Genworth Financial by 4.5% during the first quarter. Donald Smith & CO. Inc. now owns 27,114,581 shares of the financial services provider's stock worth $192,242,000 after purchasing an additional 1,165,112 shares in the last quarter. Hedge funds and other institutional investors own 81.85% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports 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 increased their price target 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 equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $9.50.

Genworth Financial Price Performance

Shares of Genworth Financial stock traded up $0.2750 during mid-day trading on Friday, reaching $8.6850. 5,467,703 shares of the stock traded hands, compared to its average volume of 6,313,830. The business has a 50-day moving average of $7.86 and a 200 day moving average of $7.21. Genworth Financial, Inc. has a fifty-two week low of $5.99 and a fifty-two week high of $8.72. The stock has a market capitalization of $3.56 billion, a PE ratio of 19.30 and a beta of 1.12. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.16.

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

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.