River Road Asset Management LLC Cuts Stock Position in Genworth Financial, Inc. $GNW

Key Points

• River Road Asset Management trimmed its Genworth Financial stake by 1.0% in the fourth quarter, leaving it with 16.4 million shares worth about $148.1 million, or 4.11% of the company.
• Genworth Financial shares were little changed, opening at $8.96, while the stock remains near its 52-week range of $7.13 to $9.45 and has a market value of about $3.43 billion.
• The company reported better-than-expected quarterly EPS of $0.28, but revenue of $1.04 billion fell short of analyst estimates; meanwhile, CEO Thomas J. McInerney and Director Robert P. Restrepo Jr. both sold shares recently.

River Road Asset Management LLC cut its position in shares of Genworth Financial, Inc. (NYSE:GNW - Free Report) by 1.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,396,056 shares of the financial services provider's stock after selling 162,278 shares during the quarter. Genworth Financial makes up about 1.6% of River Road Asset Management LLC's investment portfolio, making the stock its 12th largest position. River Road Asset Management LLC owned 4.11% of Genworth Financial worth $148,056,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of GNW. Hudson Bay Capital Management LP boosted its stake in shares of Genworth Financial by 17.7% in the 3rd quarter. Hudson Bay Capital Management LP now owns 849,629 shares of the financial services provider's stock valued at $7,562,000 after purchasing an additional 127,722 shares in the last quarter. American Century Companies Inc. raised its position in Genworth Financial by 7.9% in the 3rd quarter. American Century Companies Inc. now owns 9,567,534 shares of the financial services provider's stock worth $85,151,000 after purchasing an additional 704,498 shares during the period. Arbiter Partners Capital Management LLC raised its position in Genworth Financial by 40.7% in the 3rd quarter. Arbiter Partners Capital Management LLC now owns 487,400 shares of the financial services provider's stock worth $4,338,000 after purchasing an additional 141,000 shares during the period. Dimensional Fund Advisors LP lifted its stake in Genworth Financial by 1.0% in the third quarter. Dimensional Fund Advisors LP now owns 26,493,475 shares of the financial services provider's stock worth $235,793,000 after purchasing an additional 270,062 shares during the last quarter. Finally, Jupiter Asset Management Ltd. bought a new stake in Genworth Financial in the third quarter worth $3,842,000. 81.85% of the stock is owned by hedge funds and other institutional investors.

Genworth Financial Trading Down 0.2%

NYSE:GNW opened at $8.96 on Friday. The company has a fifty day moving average of $8.87 and a 200 day moving average of $8.70. Genworth Financial, Inc. has a 52 week low of $7.13 and a 52 week high of $9.45. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $3.43 billion, a P/E ratio of 17.22 and a beta of 0.86.

Genworth Financial (NYSE:GNW - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.18 by $0.10. Genworth Financial had a net margin of 2.96% and a return on equity of 1.73%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.72 billion. On average, research analysts predict that Genworth Financial, Inc. will post 0.44 earnings per share for the current year.

Insider Transactions at Genworth Financial

In other news, Director Robert P. Restrepo, Jr. sold 50,000 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $9.12, for a total transaction of $456,000.00. Following the completion of the sale, the director directly owned 92,655 shares in the company, valued at approximately $845,013.60. This represents a 35.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Thomas J. Mcinerney sold 100,000 shares of the firm's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $9.27, for a total value of $927,000.00. Following the completion of the sale, the chief executive officer directly owned 5,368,883 shares in the company, valued at $49,769,545.41. The trade was a 1.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.80% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GNW. Zacks Research raised Genworth Financial to a "hold" rating in a research note on Wednesday, May 27th. Keefe, Bruyette & Woods boosted their target price on Genworth Financial from $10.50 to $11.00 and gave the company an "outperform" rating in a research note on Wednesday, May 13th. Weiss Ratings upgraded Genworth Financial from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday. Finally, Wall Street Zen cut Genworth Financial from a "hold" rating to a "sell" rating in a report on Sunday, May 17th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $11.00.

Genworth Financial Company Profile

Genworth Financial NYSE: GNW is a leading financial security company offering a broad range of insurance products. Based in Richmond, Virginia, Genworth provides individuals and families with solutions designed to protect against long-term care expenses, secure life insurance needs and support homeownership through private mortgage insurance. With operations spanning the United States, Canada and Australia, the company serves both retail and institutional clients through a diversified portfolio of risk management services.

The company's Private Mortgage Insurance (PMI) segment offers coverage to lenders and consumers in the US, Canada and Australia, enabling homebuyers to purchase properties with lower down payments.

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