Genworth Financial, Inc. (NYSE:GNW) Shares Sold by Mackenzie Financial Corp

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 holdings in Genworth Financial, Inc. (NYSE:GNW - Free Report) by 26.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,856 shares of the financial services provider's stock after selling 31,121 shares during the period. Mackenzie Financial Corp's holdings in Genworth Financial were worth $616,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Xponance Inc. increased its position in shares of Genworth Financial by 4.8% during the first quarter. Xponance Inc. now owns 32,525 shares of the financial services provider's stock worth $231,000 after purchasing an additional 1,493 shares in the last quarter. NDVR Inc. increased its position in shares of Genworth Financial by 8.6% during the fourth quarter. NDVR Inc. now owns 24,329 shares of the financial services provider's stock worth $170,000 after purchasing an additional 1,922 shares in the last quarter. Summit Investment Advisors Inc. increased its position in shares of Genworth Financial by 5.5% during the fourth quarter. Summit Investment Advisors Inc. now owns 45,038 shares of the financial services provider's stock worth $315,000 after purchasing an additional 2,329 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Genworth Financial by 13.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 19,861 shares of the financial services provider's stock worth $139,000 after purchasing an additional 2,343 shares in the last quarter. Finally, Mariner LLC increased its position in shares of Genworth Financial by 3.8% during the fourth quarter. Mariner LLC now owns 68,689 shares of the financial services provider's stock worth $480,000 after purchasing an additional 2,514 shares in the last quarter. Institutional investors and hedge funds own 81.85% of the company's stock.

Wall Street Analyst Weigh In

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

Genworth Financial Stock Performance

GNW stock traded up $0.17 during trading on Friday, hitting $8.32. The company had a trading volume of 5,355,876 shares, compared to its average volume of 6,712,939. The firm has a market cap of $3.41 billion, a PE ratio of 18.48 and a beta of 1.12. Genworth Financial, Inc. has a 1-year low of $5.99 and a 1-year high of $8.35. The firm has a 50-day moving average price of $7.55 and a 200-day moving average price of $7.13. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.16.

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

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.