Genworth Financial, Inc. $GNW Shares Sold by State of Wyoming

Key Points

• The State of Wyoming significantly reduced its stake in Genworth Financial, Inc. by 78.7% in the first quarter, leaving it with 8,114 shares valued at $58,000.
• Despite Wyoming's reduction, other institutional investors like Donald Smith & CO. Inc. and American Century Companies Inc. increased their holdings, indicating continued interest in the company.
• Genworth Financial reported a profit of $0.16 per share for the last quarter, exceeding expectations, with revenue of $1.80 billion and a consensus target price of $9.50 from analysts.

State of Wyoming reduced its position in shares of Genworth Financial, Inc. (NYSE:GNW - Free Report) by 78.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,114 shares of the financial services provider's stock after selling 29,937 shares during the period. State of Wyoming's holdings in Genworth Financial were worth $58,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. boosted its holdings in Genworth Financial by 2.7% in the first quarter. Principal Financial Group Inc. now owns 2,126,240 shares of the financial services provider's stock valued at $15,075,000 after purchasing an additional 55,085 shares during the period. GAMMA Investing LLC lifted its holdings in Genworth Financial by 494.7% during the 1st quarter. GAMMA Investing LLC now owns 64,455 shares of the financial services provider's stock worth $457,000 after buying an additional 53,617 shares during the last quarter. Handelsbanken Fonder AB increased its position in shares of Genworth Financial by 56.0% during the first quarter. Handelsbanken Fonder AB now owns 112,490 shares of the financial services provider's stock worth $798,000 after purchasing an additional 40,400 shares in the last quarter. Deutsche Bank AG increased its position in shares of Genworth Financial by 34.1% during the fourth quarter. Deutsche Bank AG now owns 430,853 shares of the financial services provider's stock worth $3,012,000 after purchasing an additional 109,570 shares in the last quarter. Finally, Cerity Partners LLC increased its position in shares of Genworth Financial by 136.3% during the first quarter. Cerity Partners LLC now owns 47,681 shares of the financial services provider's stock worth $338,000 after purchasing an additional 27,501 shares in the last quarter. 81.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on GNW shares. Keefe, Bruyette & Woods boosted their price target on Genworth Financial from $9.00 to $9.50 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Wall Street Zen cut Genworth Financial from a "hold" rating to a "sell" rating in a research report on Sunday, September 7th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Genworth Financial has an average rating of "Buy" and a consensus target price of $9.50.

Genworth Financial Trading Down 1.3%

GNW traded down $0.11 during trading on Monday, hitting $8.69. The company's stock had a trading volume of 3,392,109 shares, compared to its average volume of 3,567,527. The firm's 50 day moving average price is $8.15 and its 200-day moving average price is $7.39. 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 market cap of $3.57 billion, a PE ratio of 19.31 and a beta of 0.94. Genworth Financial, Inc. has a twelve month low of $5.99 and a twelve month high of $8.85.

Genworth Financial (NYSE:GNW - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.05 by $0.11. The business 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%.

Insider Activity at Genworth Financial

In other news, CEO Rohit Gupta sold 86,406 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $8.68, for a total transaction of $750,004.08. Following the transaction, the chief executive officer owned 794,630 shares of the company's stock, valued at approximately $6,897,388.40. This trade represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.80% of the company's stock.

About Genworth Financial

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.