Genworth Financial, Inc. $GNW Stake Lessened by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in Genworth Financial, Inc. (NYSE:GNW - Free Report) by 5.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,444,467 shares of the financial services provider's stock after selling 137,266 shares during the period. Bank of New York Mellon Corp owned 0.63% of Genworth Financial worth $19,849,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in GNW. Royal Bank of Canada raised its stake in shares of Genworth Financial by 75.8% in the 1st quarter. Royal Bank of Canada now owns 118,058 shares of the financial services provider's stock valued at $837,000 after purchasing an additional 50,911 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Genworth Financial by 2.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 252,152 shares of the financial services provider's stock worth $1,788,000 after purchasing an additional 7,106 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Genworth Financial by 4.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,184,144 shares of the financial services provider's stock valued at $8,396,000 after buying an additional 55,071 shares during the last quarter. Strs Ohio bought a new stake in Genworth Financial in the first quarter valued at about $82,000. Finally, Invesco Ltd. increased its holdings in Genworth Financial by 41.0% in the second quarter. Invesco Ltd. now owns 4,291,220 shares of the financial services provider's stock valued at $33,386,000 after buying an additional 1,248,374 shares during the last quarter. 81.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Weiss Ratings downgraded Genworth Financial from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, July 17th. Keefe, Bruyette & Woods boosted their price target on Genworth Financial from $11.00 to $12.00 and gave the company an "outperform" rating in a report on Monday, July 13th. Wall Street Zen raised Genworth Financial from a "sell" rating to a "hold" rating in a research report on Sunday, July 12th. Finally, Zacks Research raised Genworth Financial to a "hold" rating in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $12.00.

Genworth Financial Stock Performance

Shares of NYSE GNW opened at $10.07 on Thursday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.15. The firm's 50-day moving average price is $9.27 and its two-hundred day moving average price is $8.83. Genworth Financial, Inc. has a 52-week low of $7.61 and a 52-week high of $10.20. The stock has a market capitalization of $3.86 billion, a P/E ratio of 19.38 and a beta of 0.85.

Genworth Financial (NYSE:GNW - Get Free Report) last posted its earnings results on Tuesday, May 5th. The financial services provider reported $0.28 EPS for the quarter, beating the consensus estimate of $0.18 by $0.10. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.72 billion. Genworth Financial had a return on equity of 1.73% and a net margin of 2.96%. As a group, sell-side analysts forecast that Genworth Financial, Inc. will post 1.1 earnings per share for the current year.

Insider Buying and Selling

In other Genworth Financial news, Director Robert P. Restrepo, Jr. sold 50,000 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $9.12, for a total value of $456,000.00. Following the sale, the director directly owned 92,655 shares of the company's stock, valued at $845,013.60. This trade represents a 35.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas J. Mcinerney sold 100,000 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $9.27, for a total value of $927,000.00. Following the completion of the sale, the chief executive officer directly owned 5,368,883 shares in the company, valued at $49,769,545.41. This represents a 1.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.80% of the company's stock.

Genworth Financial Company Profile

Genworth Financial NYSE: GNW is a leading financial security company offering a broad range of insurance products. Based in Richmond, Virginia, Genworth provides individuals and families with solutions designed to protect against long-term care expenses, secure life insurance needs and support homeownership through private mortgage insurance. With operations spanning the United States, Canada and Australia, the company serves both retail and institutional clients through a diversified portfolio of risk management services.

The company's Private Mortgage Insurance (PMI) segment offers coverage to lenders and consumers in the US, Canada and Australia, enabling homebuyers to purchase properties with lower down payments.

Want to see what other hedge funds are holding GNW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Genworth Financial, Inc. (NYSE:GNW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.