JPMorgan Chase & Co. Cuts Stock Position in Genworth Financial, Inc. $GNW

Key Points

• JPMorgan cut its Genworth (GNW) stake by 32.1% in Q3, selling 545,026 shares and holding 1,150,680 shares (about 0.29% of the company) worth roughly $10.24 million.
• Other institutions largely increased or initiated positions—American Century, Hudson Bay, Arbiter and others added shares—leaving institutional investors with about 81.85% ownership of GNW.
• GNW is trading around $7.99 (down 3.9%), recently reported an EPS miss ($0.02 vs. $0.16 est.), and carries a consensus analyst rating of "Moderate Buy" with an average price target of $10.50.

JPMorgan Chase & Co. lessened its holdings in Genworth Financial, Inc. (NYSE:GNW - Free Report) by 32.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,150,680 shares of the financial services provider's stock after selling 545,026 shares during the quarter. JPMorgan Chase & Co. owned 0.29% of Genworth Financial worth $10,241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in GNW. Hudson Bay Capital Management LP boosted its holdings in shares of Genworth Financial by 17.7% in the 3rd quarter. Hudson Bay Capital Management LP now owns 849,629 shares of the financial services provider's stock worth $7,562,000 after buying an additional 127,722 shares during the last quarter. Algebris UK Ltd. purchased a new stake in Genworth Financial during the third quarter worth about $2,418,000. American Century Companies Inc. increased its holdings in Genworth Financial by 7.9% during the third quarter. American Century Companies Inc. now owns 9,567,534 shares of the financial services provider's stock worth $85,151,000 after buying an additional 704,498 shares during the last quarter. Arbiter Partners Capital Management LLC raised its position in Genworth Financial by 40.7% in the third quarter. Arbiter Partners Capital Management LLC now owns 487,400 shares of the financial services provider's stock worth $4,338,000 after acquiring an additional 141,000 shares during the period. Finally, Jupiter Asset Management Ltd. bought a new stake in Genworth Financial in the third quarter worth about $3,842,000. 81.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GNW has been the subject of a number of research reports. Keefe, Bruyette & Woods reissued a "moderate buy" rating and set a $10.50 target price on shares of Genworth Financial in a research report on Thursday. Weiss Ratings cut shares of Genworth Financial from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, March 5th. Finally, Wall Street Zen downgraded Genworth Financial from a "hold" rating to a "sell" rating in a research note on Saturday, February 28th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $10.50.

Genworth Financial Trading Down 3.9%

Shares of GNW opened at $7.99 on Friday. Genworth Financial, Inc. has a fifty-two week low of $5.99 and a fifty-two week high of $9.28. The business has a 50-day moving average of $8.44 and a 200 day moving average of $8.64. The firm has a market cap of $3.10 billion, a P/E ratio of 15.07 and a beta of 1.00. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.29 and a current ratio of 0.29.

Genworth Financial (NYSE:GNW - Get Free Report) last released its quarterly earnings data on Monday, February 23rd. The financial services provider reported $0.02 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.14). The business had revenue of $1.04 billion for the quarter. Genworth Financial had a net margin of 3.05% and a return on equity of 1.48%.

About Genworth Financial

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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