Genworth Financial, Inc. $GNW Stock Position Decreased by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its stake in Genworth Financial by 2.3%, holding 5,884,040 shares worth approximately $41.7 million after selling 141,138 shares in the first quarter.
• In contrast, several other institutional investors increased their holdings in Genworth Financial, including American Century Companies which boosted its stake by 11.6% during the same period.
• Genworth Financial's stock is currently down 1.1%, with a market capitalization of $3.52 billion and a current average rating of "Buy" from analysts.

Northern Trust Corp decreased its stake in shares of Genworth Financial, Inc. (NYSE:GNW - Free Report) by 2.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,884,040 shares of the financial services provider's stock after selling 141,138 shares during the quarter. Northern Trust Corp owned about 1.42% of Genworth Financial worth $41,718,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its stake in shares of Genworth Financial by 2.7% in the first quarter. Principal Financial Group Inc. now owns 2,126,240 shares of the financial services provider's stock valued at $15,075,000 after buying an additional 55,085 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Genworth Financial by 494.7% in the 1st quarter. GAMMA Investing LLC now owns 64,455 shares of the financial services provider's stock valued at $457,000 after purchasing an additional 53,617 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Genworth Financial by 56.0% in the 1st quarter. Handelsbanken Fonder AB now owns 112,490 shares of the financial services provider's stock valued at $798,000 after purchasing an additional 40,400 shares during the last quarter. Deutsche Bank AG raised its stake in Genworth Financial by 34.1% during the 4th quarter. Deutsche Bank AG now owns 430,853 shares of the financial services provider's stock valued at $3,012,000 after acquiring an additional 109,570 shares during the last quarter. Finally, Cerity Partners LLC raised its stake in Genworth Financial by 136.3% during the 1st quarter. Cerity Partners LLC now owns 47,681 shares of the financial services provider's stock valued at $338,000 after acquiring an additional 27,501 shares during the last quarter. Hedge funds and other institutional investors own 81.85% of the company's stock.

Genworth Financial Stock Down 1.3%

Shares of NYSE GNW traded down $0.12 during midday trading on Tuesday, reaching $8.46. 1,928,592 shares of the company's stock were exchanged, compared to its average volume of 6,116,011. Genworth Financial, Inc. has a 52-week low of $5.99 and a 52-week high of $8.74. The stock has a market capitalization of $3.47 billion, a PE ratio of 18.74 and a beta of 0.94. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.29 and a current ratio of 0.29. The business's fifty day moving average price is $7.98 and its two-hundred day moving average price is $7.27.

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

Wall Street Analysts Forecast Growth

GNW has been the subject of a number of analyst reports. Wall Street Zen raised Genworth Financial from a "sell" rating to a "hold" rating in a research note on Saturday. Keefe, Bruyette & Woods increased their target price on Genworth Financial from $9.00 to $9.50 and gave the company an "outperform" rating in a report on Wednesday, July 9th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $9.50.

Insider Transactions at Genworth Financial

In related news, CEO Rohit Gupta sold 86,406 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $8.68, for a total value of $750,004.08. Following the completion of the transaction, the chief executive officer directly owned 794,630 shares of the company's stock, valued at $6,897,388.40. This represents a 9.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.80% of the stock is owned by company insiders.

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.