Royce & Associates LP Decreases Stock Position in Genworth Financial, Inc. (NYSE:GNW)

Key Points

• Royce & Associates LP reduced its stake in Genworth Financial by 54.5%, selling 90,531 shares and now holding 75,596 shares worth approximately $536,000.
• Other institutional investors have increased their holdings in Genworth Financial, with Principal Financial Group incurring a 2.7% increase and GAMMA Investing LLC boosting their position by 494.7%.
• Genworth Financial's stock decreased by 1.4%, and the company reported an EPS of $0.12, missing analyst estimates of $0.21 for the last quarter.

Royce & Associates LP lowered its stake in shares of Genworth Financial, Inc. (NYSE:GNW - Free Report) by 54.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 75,596 shares of the financial services provider's stock after selling 90,531 shares during the period. Royce & Associates LP's holdings in Genworth Financial were worth $536,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Byrne Asset Management LLC boosted its holdings in Genworth Financial by 69.5% during the first quarter. Byrne Asset Management LLC now owns 7,595 shares of the financial services provider's stock worth $54,000 after buying an additional 3,115 shares in the last quarter. Abel Hall LLC purchased a new stake in Genworth Financial during the first quarter worth about $71,000. Pennington Partners & CO. LLC purchased a new stake in Genworth Financial during the fourth quarter worth about $84,000. Landscape Capital Management L.L.C. purchased a new stake in Genworth Financial during the fourth quarter worth about $85,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in Genworth Financial during the fourth quarter worth about $86,000. Hedge funds and other institutional investors own 81.85% of the company's stock.

Genworth Financial Price Performance

Shares of NYSE GNW traded down $0.01 on Friday, hitting $7.85. The company's stock had a trading volume of 9,451,728 shares, compared to its average volume of 6,097,424. Genworth Financial, Inc. has a 12-month low of $5.99 and a 12-month high of $8.28. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of 17.44 and a beta of 1.06. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.29 and a quick ratio of 0.29. The stock has a 50 day moving average of $7.44 and a 200-day moving average of $7.09.

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 (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.11. Genworth Financial had a net margin of 2.61% and a return on equity of 1.91%. The company had revenue of $1.80 billion for the quarter.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GNW. Wall Street Zen downgraded shares of Genworth Financial from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Keefe, Bruyette & Woods upped their price target on shares of Genworth Financial from $9.00 to $9.50 and gave the company an "outperform" rating in a report on Wednesday, July 9th.

Genworth Financial Company 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.