Genworth Financial, Inc. $GNW Stock Sold by ProShare Advisors LLC

ProShare Advisors LLC lessened its stake in shares of Genworth Financial, Inc. (NYSE:GNW) by 52.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 52,844 shares of the financial services provider’s stock after selling 57,212 shares during the quarter. ProShare Advisors LLC’s holdings in Genworth Financial were worth $474,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Donald Smith & CO. Inc. purchased a new stake in Genworth Financial in the 2nd quarter worth approximately $212,906,000. Bank of New York Mellon Corp acquired a new stake in Genworth Financial in the 2nd quarter worth about $22,798,000. Bank of America Corp DE grew its holdings in Genworth Financial by 133.2% in the 1st quarter. Bank of America Corp DE now owns 2,158,625 shares of the financial services provider’s stock valued at $17,528,000 after buying an additional 1,232,931 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Genworth Financial by 1.9% during the 1st quarter. Principal Financial Group Inc. now owns 1,940,885 shares of the financial services provider’s stock worth $15,760,000 after acquiring an additional 37,098 shares during the period. Finally, Bessemer Group Inc. boosted its position in shares of Genworth Financial by 32.4% in the first quarter. Bessemer Group Inc. now owns 856,816 shares of the financial services provider’s stock worth $6,958,000 after acquiring an additional 209,662 shares during the last quarter. Institutional investors and hedge funds own 81.85% of the company’s stock.

Genworth Financial Stock Performance

Genworth Financial stock opened at $8.75 on Tuesday. Genworth Financial, Inc. has a 12-month low of $7.84 and a 12-month high of $10.69. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.29 and a quick ratio of 0.29. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of 15.85 and a beta of 0.87. The firm’s fifty day moving average price is $9.48 and its 200 day moving average price is $9.12.

Genworth Financial (NYSE:GNW) last posted its quarterly earnings data on Wednesday, November 4th. The financial services provider reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). Genworth Financial had a net margin of 0.76% and a return on equity of 1.93%. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.79 billion. On average, research analysts forecast that Genworth Financial, Inc. will post 1.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GNW. Weiss Ratings raised shares of Genworth Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 21st. Keefe, Bruyette & Woods lowered Genworth Financial from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $11.50 to $10.50 in a research note on Friday, October 9th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Genworth Financial presently has a consensus rating of “Hold” and a consensus target price of $10.50.

Insider Transactions at Genworth Financial

In related news, CEO Thomas J. Mcinerney sold 100,000 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer directly owned 5,068,883 shares in the company, valued at $53,375,337.99. This trade represents a 1.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Melissa Hagerman sold 14,708 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $9.91, for a total transaction of $145,756.28. Following the sale, the executive vice president directly owned 192,539 shares in the company, valued at $1,908,061.49. This trade represents a 7.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.80% of the company’s stock.

Genworth Financial Profile

Genworth Financial, Inc is a U.S.-based insurance holding company headquartered in Richmond, Virginia. Its principal businesses are long-term care insurance and U.S. mortgage insurance, the latter conducted through its majority-owned subsidiary, Enact Holdings, Inc

Genworth’s long-term care business serves existing policyholders with coverage intended to help pay for care services. Through Enact, the company provides private mortgage insurance that helps lenders manage risk and can enable borrowers to obtain a mortgage with a smaller down payment.

Genworth became an independent public company in 2004 after being spun off from General Electric.