Vanguard Group Inc. trimmed its holdings in Genworth Financial, Inc. (NYSE:GNW - Free Report) by 3.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 43,955,453 shares of the financial services provider's stock after selling 1,768,479 shares during the period. Vanguard Group Inc. owned approximately 11.01% of Genworth Financial worth $396,918,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the business. Universal Beteiligungs und Servicegesellschaft mbH grew its position in Genworth Financial by 73.7% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 222,624 shares of the financial services provider's stock worth $2,010,000 after acquiring an additional 94,467 shares during the period. Merit Financial Group LLC purchased a new position in Genworth Financial in the fourth quarter worth approximately $153,000. CWM LLC grew its position in Genworth Financial by 3.6% in the fourth quarter. CWM LLC now owns 51,595 shares of the financial services provider's stock worth $466,000 after acquiring an additional 1,790 shares during the period. Choreo LLC grew its position in Genworth Financial by 16.7% in the fourth quarter. Choreo LLC now owns 21,006 shares of the financial services provider's stock worth $191,000 after acquiring an additional 3,003 shares during the period. Finally, Brookwood Investment Group LLC purchased a new position in Genworth Financial in the fourth quarter worth approximately $850,000. 81.85% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have commented on GNW. Keefe, Bruyette & Woods restated a "moderate buy" rating and set a $10.50 price target on shares of Genworth Financial in a research note on Thursday, March 26th. Wall Street Zen cut Genworth Financial from a "hold" rating to a "sell" rating in a research note on Saturday, February 28th. Finally, Weiss Ratings upgraded Genworth Financial from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $10.50.
Read Our Latest Stock Analysis on GNW
Genworth Financial Stock Up 3.6%
Shares of NYSE GNW opened at $9.19 on Thursday. The stock has a market cap of $3.56 billion, a P/E ratio of 17.66 and a beta of 0.89. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.15. Genworth Financial, Inc. has a 12-month low of $6.63 and a 12-month high of $9.45. The business's fifty day simple moving average is $8.48 and its 200-day simple moving average is $8.62.
Genworth Financial (NYSE:GNW - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.10. The business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.48 billion. Genworth Financial had a return on equity of 1.74% and a net margin of 2.96%.
About Genworth Financial
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding GNW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Genworth Financial, Inc. (NYSE:GNW - Free Report).
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