Genworth Financial, Inc. $GNW Shares Sold by Rhumbline Advisers

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 decreased its holdings in Genworth Financial, Inc. (NYSE:GNW - Free Report) by 5.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,267,650 shares of the financial services provider's stock after selling 70,687 shares during the quarter. Rhumbline Advisers owned 0.31% of Genworth Financial worth $8,988,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Strs Ohio acquired a new position in shares of Genworth Financial during the first quarter worth about $82,000. Intech Investment Management LLC grew its position in shares of Genworth Financial by 7.6% during the first quarter. Intech Investment Management LLC now owns 427,993 shares of the financial services provider's stock worth $3,034,000 after buying an additional 30,260 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Genworth Financial by 4.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,184,144 shares of the financial services provider's stock worth $8,396,000 after buying an additional 55,071 shares in the last quarter. Caxton Associates LLP acquired a new position in shares of Genworth Financial during the first quarter worth about $3,990,000. Finally, Teza Capital Management LLC acquired a new position in shares of Genworth Financial during the first quarter worth about $195,000. 81.85% of the stock is owned by institutional investors and hedge funds.

Genworth Financial Stock Performance

Shares of Genworth Financial stock traded down $0.18 during trading hours on Tuesday, hitting $8.51. 1,497,631 shares of the company were exchanged, compared to its average volume of 5,976,530. 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 capitalization of $3.49 billion, a price-to-earnings ratio of 18.90 and a beta of 0.94. Genworth Financial, Inc. has a 1 year low of $5.99 and a 1 year high of $8.85. The business has a 50-day moving average of $8.15 and a 200-day moving average of $7.39.

Genworth Financial (NYSE:GNW - Get Free Report) last posted its 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 for the quarter. Genworth Financial had a return on equity of 1.91% and a net margin of 2.61%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on GNW shares. Keefe, Bruyette & Woods boosted their price objective 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 downgraded Genworth Financial from a "hold" rating to a "sell" rating in a research report on Sunday, September 7th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $9.50.

Insiders Place Their Bets

In other Genworth Financial news, CEO Rohit Gupta sold 86,406 shares of the company's stock in a transaction 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 sale, the chief executive officer owned 794,630 shares of the company's stock, valued at approximately $6,897,388.40. This represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.80% of the company's stock.

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.