Genworth Financial, Inc. $GNW Shares Sold by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. reduced its stake in Genworth Financial by 11.1%, selling 234,963 shares and owning approximately 1,882,431 shares worth over $13 million as of the latest SEC filing.
• CEO Rohit Gupta sold 86,406 shares at $8.68 each, resulting in a 9.81% decrease in his ownership, now totaling 794,630 shares valued at around $6.9 million.
• Wall Street analysts have mixed views on Genworth Financial, with some cutting ratings and price targets while others maintain a consensus rating of "Buy" with an average target price of $9.50.

Jacobs Levy Equity Management Inc. reduced its position in shares of Genworth Financial, Inc. (NYSE:GNW - Free Report) by 11.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,882,431 shares of the financial services provider's stock after selling 234,963 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.45% of Genworth Financial worth $13,346,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. AQR Capital Management LLC grew its stake in shares of Genworth Financial by 31.3% during the 1st quarter. AQR Capital Management LLC now owns 898,358 shares of the financial services provider's stock valued at $6,320,000 after acquiring an additional 214,402 shares during the period. Perbak Capital Partners LLP bought a new position in shares of Genworth Financial during the 1st quarter valued at approximately $95,000. Cubist Systematic Strategies LLC boosted its position in shares of Genworth Financial by 56.8% during the 1st quarter. Cubist Systematic Strategies LLC now owns 1,765,607 shares of the financial services provider's stock valued at $12,518,000 after acquiring an additional 639,676 shares during the last quarter. Royal Bank of Canada lifted its position in Genworth Financial by 75.8% in the first quarter. Royal Bank of Canada now owns 118,058 shares of the financial services provider's stock worth $837,000 after buying an additional 50,911 shares during the last quarter. Finally, DRW Securities LLC bought a new stake in Genworth Financial in the first quarter worth $184,000. 81.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on GNW shares. Keefe, Bruyette & Woods increased their target price on Genworth Financial from $9.00 to $9.50 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Wall Street Zen lowered Genworth Financial from a "hold" rating to a "sell" rating in a research note on Sunday, September 7th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, Genworth Financial has a consensus rating of "Buy" and a consensus target price of $9.50.

Insider Activity

In related news, CEO Rohit Gupta sold 86,406 shares of the firm's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $8.68, for a total transaction of $750,004.08. Following the completion of the transaction, the chief executive officer owned 794,630 shares of the company's stock, valued at $6,897,388.40. This trade represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.80% of the stock is currently owned by company insiders.

Genworth Financial Stock Down 0.2%

NYSE GNW traded down $0.02 during trading on Friday, hitting $8.80. The company's stock had a trading volume of 1,228,017 shares, compared to its average volume of 6,002,862. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.29 and a quick ratio of 0.29. The company has a market cap of $3.61 billion, a PE ratio of 19.54 and a beta of 0.94. The business's 50 day simple moving average is $8.11 and its 200-day simple moving average is $7.36. Genworth Financial, Inc. has a fifty-two week low of $5.99 and a fifty-two week high of $8.81.

Genworth Financial (NYSE:GNW - Get Free Report) last issued its earnings results on Wednesday, July 30th. The financial services provider reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $0.11. Genworth Financial had a return on equity of 1.91% and a net margin of 2.61%.The firm had revenue of $1.80 billion for the quarter.

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.