Russell Investments Group Ltd. Sells 123,921 Shares of Genworth Financial, Inc. $GNW

Key Points

• Russell Investments Group Ltd. reduced its holdings in Genworth Financial by 14.7%, now owning approximately 720,275 shares valued at about $5.1 million.
• Institutional ownership of Genworth Financial is high, with 81.85% of the stock held by various hedge funds and institutional investors.
• Genworth Financial reported earnings of $0.16 per share for the last quarter, exceeding analysts' expectations of $0.05.

Russell Investments Group Ltd. trimmed its position in Genworth Financial, Inc. (NYSE:GNW - Free Report) by 14.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 720,275 shares of the financial services provider's stock after selling 123,921 shares during the quarter. Russell Investments Group Ltd. owned about 0.17% of Genworth Financial worth $5,107,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in GNW. Byrne Asset Management LLC increased its holdings in shares of Genworth Financial by 69.5% in the first 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. Abel Hall LLC bought a new stake in shares of Genworth Financial in the first quarter worth about $71,000. Blueshift Asset Management LLC purchased a new position in Genworth Financial in the first quarter worth about $71,000. Pennington Partners & CO. LLC purchased a new position in Genworth Financial in the fourth quarter worth about $84,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in Genworth Financial in the fourth quarter worth about $86,000. 81.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on GNW shares. Keefe, Bruyette & Woods lifted 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. Wall Street Zen lowered Genworth Financial from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $9.50.

Genworth Financial Trading Up 0.8%

Shares of Genworth Financial stock traded up $0.07 on Wednesday, hitting $8.68. 3,702,001 shares of the company traded hands, compared to its average volume of 5,557,671. The stock's 50 day moving average price is $7.94 and its 200-day moving average price is $7.24. 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 52 week low of $5.99 and a 52 week high of $8.74. The company has a market cap of $3.56 billion, a PE ratio of 19.28 and a beta of 1.12.

Genworth Financial (NYSE:GNW - Get Free Report) last posted its quarterly earnings results 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. Genworth Financial had a net margin of 2.61% and a return on equity of 1.91%. The firm 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.