EJF Capital LLC Lowers Stock Holdings in Genworth Financial, Inc. $GNW

Key Points

• EJF Capital LLC reduced its stake in Genworth Financial by 5.5%, selling 30,800 shares and retaining 530,000 shares, which now constitutes 2.4% of their portfolio.
• Several institutional investors have increased their positions in Genworth Financial, with Northern Trust Corp raising its stake by 18.1% during the fourth quarter.
• According to analysts, Genworth Financial has a consensus rating of "Buy" with a target price increase from $9.00 to $9.50, following its recent earnings report that outperformed expectations.

EJF Capital LLC reduced its stake in shares of Genworth Financial, Inc. (NYSE:GNW - Free Report) by 5.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 530,000 shares of the financial services provider's stock after selling 30,800 shares during the quarter. Genworth Financial makes up 2.4% of EJF Capital LLC's holdings, making the stock its 11th largest position. EJF Capital LLC owned 0.13% of Genworth Financial worth $3,758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Byrne Asset Management LLC lifted its stake in shares of Genworth Financial by 69.5% during the 1st quarter. Byrne Asset Management LLC now owns 7,595 shares of the financial services provider's stock worth $54,000 after purchasing an additional 3,115 shares during the last quarter. Blueshift Asset Management LLC acquired a new stake in shares of Genworth Financial in the 1st quarter worth $71,000. Abel Hall LLC acquired a new stake in shares of Genworth Financial in the 1st quarter worth $71,000. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Genworth Financial in the 4th quarter worth $86,000. Finally, Perbak Capital Partners LLP acquired a new stake in shares of Genworth Financial in the 1st quarter worth $95,000. 81.85% of the stock is currently owned by hedge funds and other institutional investors.

Genworth Financial Stock Performance

Shares of GNW stock traded up $0.03 on Monday, hitting $8.60. The company had a trading volume of 4,289,825 shares, compared to its average volume of 6,075,395. The firm has a market cap of $3.53 billion, a P/E ratio of 19.10 and a beta of 0.94. The company has a 50-day moving average price of $8.04 and a 200-day moving average price of $7.31. 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, Inc. has a twelve month low of $5.99 and a twelve month high of $8.74.

Genworth Financial (NYSE:GNW - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.11. The business 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%.

Insider Activity

In other news, CEO Rohit Gupta sold 86,406 shares of the business's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $8.68, for a total value of $750,004.08. Following the completion of the transaction, the chief executive officer owned 794,630 shares of the company's stock, valued at $6,897,388.40. The trade was a 9.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GNW. Keefe, Bruyette & Woods raised their price objective on Genworth Financial from $9.00 to $9.50 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Wall Street Zen cut Genworth Financial from a "hold" rating to a "sell" rating in a research report on Sunday. One research analyst has rated the stock with a Buy rating, According to MarketBeat, Genworth Financial has an average rating of "Buy" and a consensus price target of $9.50.

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.