Genworth Financial, Inc. $GNW Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. holds a 11.62% stake in Genworth Financial, worth approximately $342.54 million, after reducing its position by 1.2% in the first quarter.
• Genworth Financial posted earnings of $0.16 EPS, surpassing analyst expectations of $0.05, with a reported revenue of $1.80 billion for the quarter.
• Institutional investors and hedge funds collectively own 81.85% of Genworth Financial's stock, indicating strong faith from major investors in the company's performance.

Vanguard Group Inc. decreased its holdings in shares of Genworth Financial, Inc. (NYSE:GNW - Free Report) by 1.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,312,417 shares of the financial services provider's stock after selling 584,399 shares during the period. Vanguard Group Inc. owned about 11.62% of Genworth Financial worth $342,535,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GNW. Blueshift Asset Management LLC acquired a new position in Genworth Financial in the 1st quarter valued at $71,000. HB Wealth Management LLC acquired a new position in Genworth Financial in the 1st quarter valued at $130,000. Abel Hall LLC acquired a new position in Genworth Financial in the 1st quarter valued at $71,000. KLP Kapitalforvaltning AS raised its stake in Genworth Financial by 33.4% in the 1st quarter. KLP Kapitalforvaltning AS now owns 119,800 shares of the financial services provider's stock valued at $849,000 after purchasing an additional 30,000 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its stake in Genworth Financial by 3.0% in the 1st quarter. Allianz Asset Management GmbH now owns 1,600,694 shares of the financial services provider's stock valued at $11,349,000 after purchasing an additional 46,339 shares during the last quarter. Hedge funds and other institutional investors own 81.85% of the company's stock.

Genworth Financial Trading Down 0.9%

Shares of GNW traded down $0.0750 during midday trading on Thursday, reaching $8.3950. The company had a trading volume of 3,409,819 shares, compared to its average volume of 6,575,295. Genworth Financial, Inc. has a 1-year low of $5.99 and a 1-year high of $8.60. The stock has a market cap of $3.45 billion, a PE ratio of 18.66 and a beta of 1.12. The firm has a 50 day simple moving average of $7.82 and a 200-day simple moving average of $7.21. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.16.

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

Analyst Upgrades and Downgrades

Several research firms recently commented on GNW. Wall Street Zen downgraded Genworth Financial from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Keefe, Bruyette & Woods increased their price objective on Genworth Financial from $9.00 to $9.50 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $9.50.

Genworth Financial 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.