Genworth Financial, Inc. $GNW Stock Holdings Lifted by Alta Fundamental Advisers LLC

Key Points

• Alta Fundamental Advisers increased its Genworth Financial stake by 36.3% in the fourth quarter, adding 325,000 shares to reach 1.22 million shares valued at about $11.0 million. Genworth now makes up roughly 5% of the firm’s portfolio.
• Genworth posted quarterly earnings of $0.28 per share, beating analyst expectations of $0.18, even as revenue came in below estimates at $1.04 billion. Analysts currently have a consensus Hold rating on the stock with an average price target of $11.00.
• Insider activity was negative, with CEO Thomas J. McInerney and Director Robert P. Restrepo Jr. both selling shares in May. Meanwhile, institutional ownership remains dominant, with hedge funds and other institutions holding about 81.85% of the stock.

Alta Fundamental Advisers LLC lifted its position in Genworth Financial, Inc. (NYSE:GNW - Free Report) by 36.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,220,609 shares of the financial services provider's stock after acquiring an additional 325,000 shares during the period. Genworth Financial comprises approximately 5.0% of Alta Fundamental Advisers LLC's holdings, making the stock its 7th largest position. Alta Fundamental Advisers LLC owned approximately 0.31% of Genworth Financial worth $11,022,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in shares of Genworth Financial by 1.0% in the third quarter. Dimensional Fund Advisors LP now owns 26,493,475 shares of the financial services provider's stock worth $235,793,000 after acquiring an additional 270,062 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Genworth Financial by 7.9% in the 3rd quarter. American Century Companies Inc. now owns 9,567,534 shares of the financial services provider's stock valued at $85,151,000 after purchasing an additional 704,498 shares during the period. Norges Bank purchased a new position in Genworth Financial during the fourth quarter valued at approximately $45,912,000. Invesco Ltd. grew its position in Genworth Financial by 41.0% during the second quarter. Invesco Ltd. now owns 4,291,220 shares of the financial services provider's stock valued at $33,386,000 after purchasing an additional 1,248,374 shares in the last quarter. Finally, UBS Group AG grew its position in Genworth Financial by 621.2% during the fourth quarter. UBS Group AG now owns 3,598,588 shares of the financial services provider's stock valued at $32,495,000 after purchasing an additional 3,099,582 shares in the last quarter. 81.85% of the stock is owned by hedge funds and other institutional investors.

Genworth Financial Stock Performance

GNW stock opened at $8.48 on Friday. 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 company has a market capitalization of $3.25 billion, a price-to-earnings ratio of 16.32 and a beta of 0.86. Genworth Financial, Inc. has a 12 month low of $6.72 and a 12 month high of $9.45. The firm has a 50 day moving average of $8.76 and a two-hundred day moving average of $8.68.

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, topping the consensus estimate of $0.18 by $0.10. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.72 billion. Genworth Financial had a net margin of 2.96% and a return on equity of 1.73%. As a group, equities analysts anticipate that Genworth Financial, Inc. will post 0.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Thomas J. Mcinerney sold 100,000 shares of the business's stock in a transaction on Friday, May 22nd. The shares were 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 approximately $49,769,545.41. The trade was a 1.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert P. Restrepo, Jr. sold 50,000 shares of the business's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $9.12, for a total transaction of $456,000.00. Following the completion of the sale, the director owned 92,655 shares of the company's stock, valued at $845,013.60. The trade was a 35.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Weiss Ratings downgraded shares of Genworth Financial from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday. Keefe, Bruyette & Woods boosted their price objective on shares of Genworth Financial from $10.50 to $11.00 and gave the company an "outperform" rating in a research report on Wednesday, May 13th. Wall Street Zen downgraded shares of Genworth Financial from a "hold" rating to a "sell" rating in a research report on Sunday, May 17th. Finally, Zacks Research raised shares of Genworth Financial to a "hold" rating in a research report on Wednesday, May 27th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $11.00.

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.

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.