Genworth Financial, Inc. $GNW Shares Sold by Legal & General Group Plc

Legal & General Group Plc cut its holdings in shares of Genworth Financial, Inc. (NYSE:GNW) by 7.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,050,818 shares of the financial services provider’s stock after selling 82,793 shares during the period. Legal & General Group Plc’s holdings in Genworth Financial were worth $9,489,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in GNW. Bessemer Group Inc. raised its holdings in shares of Genworth Financial by 60.6% in the 3rd quarter. Bessemer Group Inc. now owns 3,830 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 1,445 shares in the last quarter. Headlands Technologies LLC purchased a new position in Genworth Financial during the 2nd quarter worth $44,000. Larson Financial Group LLC grew its position in Genworth Financial by 12,597.7% during the 3rd quarter. Larson Financial Group LLC now owns 5,587 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 5,543 shares during the last quarter. Danske Bank A S purchased a new position in Genworth Financial during the 3rd quarter worth $60,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Genworth Financial by 140.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,063 shares of the financial services provider’s stock worth $63,000 after acquiring an additional 4,708 shares during the period. 81.85% of the stock is currently owned by institutional investors and hedge funds.

Genworth Financial Price Performance

Genworth Financial stock opened at $8.48 on Friday. Genworth Financial, Inc. has a 1 year low of $6.72 and a 1 year high of $9.45. The firm has a 50 day moving average price of $8.76 and a 200 day moving average price of $8.68. The company has a market cap of $3.25 billion, a price-to-earnings ratio of 16.32 and a beta of 0.86. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.29 and a current ratio of 0.29.

Genworth Financial (NYSE:GNW) last announced its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.10. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Genworth Financial had a net margin of 2.96% and a return on equity of 1.73%. Sell-side analysts predict that Genworth Financial, Inc. will post 0.44 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Robert P. Restrepo, Jr. sold 50,000 shares of Genworth Financial stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $9.12, for a total value of $456,000.00. Following the completion of the sale, the director owned 92,655 shares in the company, valued at approximately $845,013.60. The trade was a 35.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas J. Mcinerney sold 100,000 shares of Genworth Financial stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $9.27, for a total transaction of $927,000.00. Following the completion of the sale, the chief executive officer owned 5,368,883 shares of the company’s stock, valued at approximately $49,769,545.41. This trade represents a 1.83% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on GNW. Wall Street Zen cut shares of Genworth Financial from a “hold” rating to a “sell” rating in a research note on Sunday, May 17th. Weiss Ratings cut shares of Genworth Financial from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday. Keefe, Bruyette & Woods raised their target price on shares of Genworth Financial from $10.50 to $11.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Finally, Zacks Research upgraded shares of Genworth Financial to a “hold” rating in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Genworth Financial presently has a consensus rating of “Hold” and a consensus target price of $11.00.

About Genworth Financial

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.