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

Key Points

• JPMorgan Chase & Co. cut its stake in Genworth by 32.1% in Q3, selling 545,026 shares and leaving it with 1,150,680 shares (about 0.28% of the company) valued at $10.24 million.
• Genworth missed quarterly expectations, reporting $0.02 EPS versus $0.16 expected and $1.04 billion in revenue, with weak profitability metrics (ROE 1.48%, net margin 3.05%).
• Shares trade near $8.45 (12‑month range $5.99–$9.28) with a $3.28 billion market cap; analysts are mixed but the consensus rating is a Buy with an average target of $10.00.

JPMorgan Chase & Co. decreased its stake in shares of Genworth Financial, Inc. (NYSE:GNW - Free Report) by 32.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,150,680 shares of the financial services provider's stock after selling 545,026 shares during the period. JPMorgan Chase & Co. owned 0.28% of Genworth Financial worth $10,241,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of GNW. Salomon & Ludwin LLC grew its stake in shares of Genworth Financial by 1,731.8% during the 3rd quarter. Salomon & Ludwin LLC now owns 3,279 shares of the financial services provider's stock valued at $29,000 after buying an additional 3,100 shares during the period. Bessemer Group Inc. raised its position in shares of Genworth Financial by 60.6% in the 3rd quarter. Bessemer Group Inc. now owns 3,830 shares of the financial services provider's stock worth $34,000 after buying an additional 1,445 shares during the period. Headlands Technologies LLC acquired a new position in Genworth Financial in the second quarter valued at $44,000. EverSource Wealth Advisors LLC boosted its holdings in Genworth Financial by 140.3% in the second quarter. EverSource Wealth Advisors LLC now owns 8,063 shares of the financial services provider's stock valued at $63,000 after acquiring an additional 4,708 shares during the last quarter. Finally, Seven Mile Advisory purchased a new stake in Genworth Financial during the second quarter valued at about $78,000. Hedge funds and other institutional investors own 81.85% of the company's stock.

Genworth Financial Stock Performance

Genworth Financial stock opened at $8.45 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.29 and a quick ratio of 0.29. Genworth Financial, Inc. has a 12 month low of $5.99 and a 12 month high of $9.28. The company has a fifty day moving average price of $8.66 and a two-hundred day moving average price of $8.69. The company has a market cap of $3.28 billion, a PE ratio of 15.94 and a beta of 1.00.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Wall Street Zen downgraded Genworth Financial from a "hold" rating to a "sell" rating in a report on Saturday, February 28th. Weiss Ratings raised Genworth Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, February 19th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $10.00.

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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