State of Wyoming Sells 29,937 Shares of Genworth Financial, Inc. $GNW

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 trimmed its stake in Genworth Financial, Inc. (NYSE:GNW - Free Report) by 78.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. raised its stake in shares of Genworth Financial by 2.7% during 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 acquiring an additional 55,085 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Genworth Financial by 494.7% during the first quarter. GAMMA Investing LLC now owns 64,455 shares of the financial services provider's stock worth $457,000 after purchasing an additional 53,617 shares in the last quarter. Handelsbanken Fonder AB grew its holdings 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 valued at $798,000 after buying an additional 40,400 shares during the last quarter. Deutsche Bank AG boosted its holdings in Genworth Financial by 34.1% in the fourth quarter. Deutsche Bank AG now owns 430,853 shares of the financial services provider's stock valued at $3,012,000 after purchasing an additional 109,570 shares during the last quarter. Finally, Cerity Partners LLC boosted its holdings in Genworth Financial by 136.3% in the first quarter. Cerity Partners LLC now owns 47,681 shares of the financial services provider's stock valued at $338,000 after purchasing an additional 27,501 shares during the last quarter. Hedge funds and other institutional investors own 81.85% of the company's stock.

Genworth Financial Trading Down 0.1%

GNW traded down $0.01 during trading on Friday, hitting $8.80. 3,795,184 shares of the company's stock were exchanged, compared to its average volume of 3,609,003. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.16. Genworth Financial, Inc. has a 1 year low of $5.99 and a 1 year high of $8.85. The stock has a 50 day moving average price of $8.13 and a 200 day moving average price of $7.37. The firm has a market cap of $3.61 billion, a P/E ratio of 19.56 and a beta of 0.94.

Genworth Financial (NYSE:GNW - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $0.11. The firm had revenue of $1.80 billion for the quarter. Genworth Financial had a net margin of 2.61% and a return on equity of 1.91%.

Insider Activity

In other Genworth Financial news, CEO Rohit Gupta sold 86,406 shares of the firm's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $8.68, for a total value of $750,004.08. Following the completion of the transaction, the chief executive officer directly owned 794,630 shares in the company, valued at $6,897,388.40. This trade represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on GNW. Wall Street Zen downgraded shares of Genworth Financial from a "hold" rating to a "sell" rating in a report on Sunday, September 7th. Keefe, Bruyette & Woods lifted their price target on shares of Genworth Financial from $9.00 to $9.50 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $9.50.

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.