Rhumbline Advisers Sells 70,687 Shares of Genworth Financial, Inc. $GNW

Key Points

• Rhumbline Advisers has reduced its stake in Genworth Financial by 5.3%, selling 70,687 shares, but still holds 1,267,650 shares valued at approximately $8.99 million.
• In addition to Rhumbline, several other institutional investors have recently changed their positions, with notable increases and new stakes in Genworth Financial.
• Analysts have mixed views on the stock; while Keefe, Bruyette & Woods raised the price target and maintained an "outperform" rating, Wall Street Zen downgraded Genworth from "hold" to "sell."

Rhumbline Advisers lowered its stake in shares of Genworth Financial, Inc. (NYSE:GNW - Free Report) by 5.3% 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 1,267,650 shares of the financial services provider's stock after selling 70,687 shares during the quarter. Rhumbline Advisers owned about 0.31% of Genworth Financial worth $8,988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Byrne Asset Management LLC boosted its holdings 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 worth $54,000 after acquiring an additional 3,115 shares in the last quarter. Abel Hall LLC acquired a new stake in Genworth Financial in the first quarter worth about $71,000. Blueshift Asset Management LLC acquired a new stake in Genworth Financial in the first quarter worth about $71,000. Strs Ohio acquired a new stake in Genworth Financial in the first quarter worth about $82,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in Genworth Financial in the fourth quarter worth about $86,000. Institutional investors own 81.85% of the company's stock.

Analyst Upgrades and Downgrades

GNW has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their price target on Genworth Financial from $9.00 to $9.50 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Wall Street Zen downgraded Genworth Financial from a "hold" rating to a "sell" rating in a report on Sunday. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $9.50.

Insider Activity at Genworth Financial

In other news, CEO Rohit Gupta sold 86,406 shares of the business's 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 sale, the chief executive officer directly owned 794,630 shares in the company, valued at $6,897,388.40. The trade was a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.80% of the stock is owned by company insiders.

Genworth Financial Stock Up 0.2%

Shares of GNW stock opened at $8.55 on Thursday. The stock has a 50 day moving average of $8.09 and a 200 day moving average of $7.34. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.16. The stock has a market cap of $3.51 billion, a P/E ratio of 18.99 and a beta of 0.94. Genworth Financial, Inc. has a twelve month low of $5.99 and a twelve month high of $8.74.

Genworth Financial (NYSE:GNW - Get Free Report) last announced its quarterly earnings results 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 company 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%.

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.

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