SG Americas Securities LLC Increases Stake in Genworth Financial, Inc. $GNW

Key Points

• SG Americas Securities LLC boosted its Genworth Financial stake by 173.7% in the first quarter, ending with 1,188,288 shares valued at about $9.65 million.
• Genworth Financial reported better-than-expected earnings for the latest quarter, posting $0.28 EPS versus the $0.18 estimate, though revenue came in below analyst expectations.
• Wall Street’s view remains mixed but mostly neutral, with a consensus Hold rating and an average price target of $11.00; meanwhile, CEO Thomas J. McInerney and Director Robert P. Restrepo Jr. both sold shares in May.

SG Americas Securities LLC increased its stake in Genworth Financial, Inc. (NYSE:GNW - Free Report) by 173.7% in 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 1,188,288 shares of the financial services provider's stock after buying an additional 754,105 shares during the period. SG Americas Securities LLC owned 0.31% of Genworth Financial worth $9,649,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GNW. Hudson Bay Capital Management LP raised its holdings in Genworth Financial by 17.7% in the third quarter. Hudson Bay Capital Management LP now owns 849,629 shares of the financial services provider's stock worth $7,562,000 after purchasing an additional 127,722 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Genworth Financial by 7.9% during the 3rd quarter. American Century Companies Inc. now owns 9,567,534 shares of the financial services provider's stock valued at $85,151,000 after buying an additional 704,498 shares in the last quarter. Arbiter Partners Capital Management LLC grew its position in shares of 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 buying an additional 141,000 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Genworth Financial by 1.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 26,493,475 shares of the financial services provider's stock worth $235,793,000 after buying an additional 270,062 shares during the period. Finally, WINTON GROUP Ltd increased its stake in shares of Genworth Financial by 203.9% in the 3rd quarter. WINTON GROUP Ltd now owns 706,644 shares of the financial services provider's stock worth $6,289,000 after acquiring an additional 474,094 shares in the last quarter. 81.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GNW. Keefe, Bruyette & Woods boosted their price objective on shares of Genworth Financial from $10.50 to $11.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 13th. Wall Street Zen lowered shares of Genworth Financial from a "hold" rating to a "sell" rating in a report on Sunday, May 17th. Weiss Ratings raised Genworth Financial from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, June 16th. Finally, Zacks Research upgraded Genworth Financial to a "hold" rating in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $11.00.

Genworth Financial Stock Performance

Shares of Genworth Financial stock opened at $9.46 on Friday. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of 18.19 and a beta of 0.86. The firm's 50-day moving average is $8.93 and its 200 day moving average is $8.72. Genworth Financial, Inc. has a 1 year low of $7.13 and a 1 year high of $9.56. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.29 and a quick ratio of 0.29.

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

Insiders Place Their Bets

In related news, CEO Thomas J. Mcinerney sold 100,000 shares of Genworth Financial stock in a transaction on 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 owned 5,368,883 shares of the company's stock, valued at $49,769,545.41. The trade was a 1.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert P. Restrepo, Jr. sold 50,000 shares of the company's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $9.12, for a total value of $456,000.00. Following the sale, the director owned 92,655 shares of the company's stock, valued at approximately $845,013.60. This trade represents a 35.05% decrease in their position. The SEC filing for this sale provides additional information. 1.80% of the stock is currently owned by insiders.

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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