Genworth Financial, Inc. $GNW Stock Position Decreased by Crossingbridge Advisors LLC

Key Points

• Crossingbridge Advisors LLC reduced its position in Genworth Financial, Inc. by 22.4% in the 1st quarter, now holding 104,000 shares worth approximately $754,000.
• Despite this decrease, institutional investors own a significant 81.85% of Genworth's stock, with several large firms increasing their stakes recently.
• Genworth Financial reported earnings of $0.16 per share for the last quarter, significantly beating analysts' expectations of $0.05 per share.

Crossingbridge Advisors LLC decreased its holdings in shares of Genworth Financial, Inc. (NYSE:GNW - Free Report) by 22.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 104,000 shares of the financial services provider's stock after selling 30,000 shares during the quarter. Crossingbridge Advisors LLC's holdings in Genworth Financial were worth $754,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of GNW. LPL Financial LLC raised its position in shares of Genworth Financial by 44.0% during the 4th quarter. LPL Financial LLC now owns 33,163 shares of the financial services provider's stock worth $232,000 after purchasing an additional 10,135 shares during the period. Wells Fargo & Company MN boosted its position in Genworth Financial by 26.1% during the 4th quarter. Wells Fargo & Company MN now owns 266,198 shares of the financial services provider's stock valued at $1,861,000 after purchasing an additional 55,078 shares during the period. Envestnet Asset Management Inc. grew its stake in Genworth Financial by 13.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 19,861 shares of the financial services provider's stock worth $139,000 after buying an additional 2,343 shares during the last quarter. Bank of Montreal Can grew its stake in Genworth Financial by 13.0% during the 4th quarter. Bank of Montreal Can now owns 51,072 shares of the financial services provider's stock worth $357,000 after buying an additional 5,870 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Genworth Financial in the fourth quarter worth $7,496,000. Institutional investors own 81.85% of the company's stock.

Genworth Financial Trading Up 0.4%

NYSE:GNW opened at $8.4550 on Thursday. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of 18.79 and a beta of 1.12. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.29 and a current ratio of 0.29. Genworth Financial, Inc. has a 1 year low of $5.99 and a 1 year high of $8.60. The business has a fifty day moving average of $7.79 and a 200-day moving average of $7.20.

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 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 Analyst Weigh In

Several equities analysts have recently issued reports on GNW shares. Keefe, Bruyette & Woods boosted their price target on shares of Genworth Financial from $9.00 to $9.50 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Wall Street Zen downgraded shares of Genworth Financial from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $9.50.

About Genworth Financial

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.

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