WINTON GROUP Ltd Cuts Stock Position in Genworth Financial, Inc. $GNW

Key Points

• WINTON GROUP Ltd cut its Genworth Financial position by 97% in the second quarter, selling 806,775 shares and retaining 25,212 shares worth approximately $239,000.
• Genworth shares were trading at $10.22, up 1.3%, while the company reported quarterly EPS of $0.29, slightly above the $0.28 consensus estimate. Institutional investors own 81.85% of the stock.
• Analyst sentiment is moderately positive, with an average rating of “Moderate Buy” and an average price target of $11.50; however, company insiders recently sold shares, including 100,000 shares sold by the CEO.

WINTON GROUP Ltd decreased its holdings in shares of Genworth Financial, Inc. (NYSE:GNW - Free Report) by 97.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,212 shares of the financial services provider's stock after selling 806,775 shares during the quarter. WINTON GROUP Ltd's holdings in Genworth Financial were worth $239,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in GNW. Engineers Gate Manager LP purchased a new position in Genworth Financial in the second quarter valued at about $1,983,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Genworth Financial in the second quarter valued at about $49,000. Nykredit A S acquired a new stake in shares of Genworth Financial in the second quarter valued at about $88,000. Corient Private Wealth LP grew its stake in shares of Genworth Financial by 34.9% in the second quarter. Corient Private Wealth LP now owns 24,014 shares of the financial services provider's stock valued at $227,000 after buying an additional 6,216 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Genworth Financial during the 2nd quarter valued at about $243,000. 81.85% of the stock is owned by hedge funds and other institutional investors.

Genworth Financial Trading Up 1.3%

Shares of GNW opened at $10.22 on Friday. Genworth Financial, Inc. has a one year low of $7.84 and a one year high of $10.69. The stock has a 50-day moving average price of $10.00 and a 200 day moving average price of $9.20. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market capitalization of $3.86 billion, a P/E ratio of 19.65 and a beta of 0.85.

Genworth Financial (NYSE:GNW - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.01. Genworth Financial had a return on equity of 1.06% and a net margin of 2.87%.The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.90 billion. Sell-side analysts forecast that Genworth Financial, Inc. will post 1.11 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Melissa Hagerman sold 14,708 shares of the company's stock in a transaction on Monday, August 24th. The shares were sold at an average price of $9.91, for a total value of $145,756.28. Following the sale, the executive vice president directly owned 192,539 shares of the company's stock, valued at $1,908,061.49. This represents a 7.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Thomas J. Mcinerney sold 100,000 shares of the business's stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $10.53, for a total transaction of $1,053,000.00. Following the completion of the sale, the chief executive officer directly owned 5,068,883 shares of the company's stock, valued at $53,375,337.99. The trade was a 1.93% decrease in their position. The SEC filing for this sale provides additional information. 1.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on GNW. Wall Street Zen raised Genworth Financial from a "sell" rating to a "hold" rating in a research report on Sunday, July 12th. Keefe, Bruyette & Woods lowered their price objective on shares of Genworth Financial from $12.00 to $11.50 and set an "outperform" rating for the company in a research report on Wednesday. Zacks Research upgraded shares of Genworth Financial to a "hold" rating in a research note on Wednesday, May 27th. Finally, Weiss Ratings raised shares of Genworth Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, September 2nd. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $11.50.

Genworth Financial Profile

Genworth Financial, Inc is an insurance holding company headquartered in Richmond, Virginia. The company's primary business is U.S. mortgage insurance, which helps lenders manage credit risk and enables eligible homebuyers to purchase homes with down payments below traditional requirements. This business operates through Enact Holdings, Inc, a publicly traded subsidiary in which Genworth remains a significant shareholder.

Genworth also manages a substantial portfolio of long-term care insurance policies, providing benefits that may help cover nursing care, assisted living, home health care and other extended-care services.

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