Mackenzie Financial Corp Sells 31,121 Shares of Genworth Financial, Inc. (NYSE:GNW)

Key Points

• Mackenzie Financial Corp sold 31,121 shares of Genworth Financial, reducing its stake by 26.4% to 86,856 shares, valued at $616,000 as per the latest SEC filing.
• Several institutional investors have recently increased their holdings in Genworth Financial, with LPL Financial boosting its stake by 44% and JPMorgan Chase increasing its position by 37.2%.
• Genworth Financial reported earnings per share (EPS) of $0.16 for the last quarter, surpassing the consensus estimate of $0.05, alongside a revenue of $1.80 billion.

Mackenzie Financial Corp cut its stake in shares of Genworth Financial, Inc. (NYSE:GNW - Free Report) by 26.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 86,856 shares of the financial services provider's stock after selling 31,121 shares during the quarter. Mackenzie Financial Corp's holdings in Genworth Financial were worth $616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Byrne Asset Management LLC lifted its position in Genworth Financial by 69.5% in the first quarter. Byrne Asset Management LLC now owns 7,595 shares of the financial services provider's stock valued at $54,000 after purchasing an additional 3,115 shares during the last quarter. Abel Hall LLC purchased a new position in shares of Genworth Financial in the first quarter worth $71,000. Pennington Partners & CO. LLC bought a new stake in Genworth Financial during the 4th quarter valued at $84,000. Landscape Capital Management L.L.C. purchased a new stake in Genworth Financial during the 4th quarter valued at $85,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in Genworth Financial in the 4th quarter worth $86,000. 81.85% of the stock is currently owned by hedge funds and other institutional investors.

Genworth Financial Trading Down 0.9%

Shares of Genworth Financial stock traded down $0.07 during midday trading on Thursday, reaching $8.14. 8,445,833 shares of the company's stock traded hands, compared to its average volume of 6,521,581. The stock has a 50 day moving average of $7.53 and a 200-day moving average of $7.12. Genworth Financial, Inc. has a 12 month low of $5.99 and a 12 month high of $8.28. The company has a market cap of $3.34 billion, a PE ratio of 18.08 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 (NYSE:GNW - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $0.16 EPS for the quarter, topping the consensus estimate of $0.05 by $0.11. The business had revenue of $1.80 billion during the quarter. Genworth Financial had a net margin of 2.61% and a return on equity of 1.91%.

Analyst Ratings Changes

GNW has been the topic of a number of analyst reports. Keefe, Bruyette & Woods boosted their price objective on shares of Genworth Financial from $9.00 to $9.50 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Wall Street Zen downgraded Genworth Financial from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd.

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.