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

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Nuveen LLC bought a new stake in shares of Genworth Financial during the 1st quarter valued at approximately $24,661,000. Boone Capital Management LLC acquired a new position in shares of Genworth Financial in the 4th quarter worth approximately $10,741,000. Nuveen Asset Management LLC lifted its position in shares of Genworth Financial by 106.9% in the 4th quarter. Nuveen Asset Management LLC now owns 2,663,077 shares of the financial services provider's stock worth $18,615,000 after purchasing an additional 1,375,637 shares during the period. Donald Smith & CO. Inc. lifted its position in shares of Genworth Financial by 4.5% in the 1st 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 during the period. Finally, Northern Trust Corp lifted its position in shares of Genworth Financial by 18.1% in the 4th quarter. Northern Trust Corp now owns 6,025,178 shares of the financial services provider's stock worth $42,116,000 after purchasing an additional 922,126 shares during the period. Institutional investors and hedge funds own 81.85% of the company's stock.

Genworth Financial Price Performance

Shares of Genworth Financial stock traded down $0.02 on Tuesday, reaching $8.63. The stock had a trading volume of 1,532,933 shares, compared to its average volume of 6,171,941. Genworth Financial, Inc. has a 1 year low of $5.99 and a 1 year high of $8.73. The company has a market cap of $3.54 billion, a P/E ratio of 19.17 and a beta of 1.12. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.16. The business's 50 day moving average is $7.88 and its two-hundred day moving average is $7.22.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on GNW shares. Wall Street Zen downgraded shares of Genworth Financial from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. 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 note on Wednesday, July 9th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently 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.