Genworth Financial, Inc. $GNW Stock Position Decreased by Sei Investments Co.

Key Points

• Sei Investments reduced its Genworth Financial stake by 36.7% in the first quarter, selling 243,581 shares and retaining 420,340 shares worth approximately $3.4 million. Institutional investors and hedge funds collectively own 81.85% of GNW.
• Genworth reported quarterly earnings of $0.29 per share, slightly above the $0.28 consensus estimate, while revenue of $1.03 billion fell short of analysts’ $1.70 billion expectation.
• GNW traded near $9.67, with analysts maintaining a “Moderate Buy” consensus and an average price target of $12.00; however, the CEO and a director recently sold shares.

Sei Investments Co. trimmed its stake in Genworth Financial, Inc. (NYSE:GNW - Free Report) by 36.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 420,340 shares of the financial services provider's stock after selling 243,581 shares during the quarter. Sei Investments Co. owned approximately 0.11% of Genworth Financial worth $3,413,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nuveen LLC boosted its position in shares of Genworth Financial by 2.3% in the 4th quarter. Nuveen LLC now owns 9,781,111 shares of the financial services provider's stock valued at $88,323,000 after purchasing an additional 223,279 shares during the period. Gendell Jeffrey L raised its holdings in Genworth Financial by 168.0% during the 4th quarter. Gendell Jeffrey L now owns 6,485,888 shares of the financial services provider's stock worth $58,568,000 after buying an additional 4,065,684 shares during the period. Norges Bank acquired a new stake in Genworth Financial during the 4th quarter worth about $45,912,000. Invesco Ltd. raised its holdings in Genworth Financial by 41.0% during the 2nd quarter. Invesco Ltd. now owns 4,291,220 shares of the financial services provider's stock worth $33,386,000 after buying an additional 1,248,374 shares during the period. Finally, UBS Group AG lifted its stake 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 buying an additional 3,099,582 shares in the last quarter. 81.85% of the stock is owned by institutional investors and hedge funds.

Genworth Financial Stock Down 0.2%

Shares of Genworth Financial stock opened at $9.67 on Friday. Genworth Financial, Inc. has a 1 year low of $7.84 and a 1 year high of $10.20. The company has a market cap of $3.70 billion, a P/E ratio of 18.60 and a beta of 0.87. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.15. The stock has a 50-day moving average price of $9.37 and a 200 day moving average price of $8.89.

Genworth Financial (NYSE:GNW - Get Free Report) last released its earnings results on Wednesday, August 5th. The financial services provider reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.01. The company had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $1.70 billion. Genworth Financial had a return on equity of 1.06% and a net margin of 2.87%. As a group, analysts expect that Genworth Financial, Inc. will post 1.1 EPS for the current fiscal year.

Insider Activity at Genworth Financial

In related news, Director Robert P. Restrepo, Jr. sold 50,000 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $9.12, for a total transaction of $456,000.00. Following the completion of the sale, the director directly owned 92,655 shares in the company, valued at approximately $845,013.60. This trade represents a 35.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Thomas J. Mcinerney sold 100,000 shares of the business's stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $9.27, for a total transaction of $927,000.00. Following the transaction, the chief executive officer directly owned 5,368,883 shares in the company, valued at $49,769,545.41. The trade was a 1.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.80% of the company's stock.

Analyst Ratings Changes

GNW has been the subject of several recent analyst reports. Weiss Ratings upgraded shares of Genworth Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday. Wall Street Zen upgraded shares of Genworth Financial from a "sell" rating to a "hold" rating in a report on Sunday, July 12th. Keefe, Bruyette & Woods upped their price target on shares of Genworth Financial from $11.00 to $12.00 and gave the company an "outperform" rating in a research report on Monday, July 13th. Finally, Zacks Research raised shares of Genworth Financial to a "hold" rating in a research note on Wednesday, May 27th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Genworth Financial presently has a consensus rating of "Moderate Buy" and an average price target of $12.00.

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.

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