First Allied Advisory Services Inc. cut its holdings in shares of Genworth Financial Inc (NYSE:GNW) by 27.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,773 shares of the financial services provider’s stock after selling 15,488 shares during the quarter. First Allied Advisory Services Inc.’s holdings in Genworth Financial were worth $181,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of GNW. Alps Advisors Inc. lifted its holdings in shares of Genworth Financial by 876.6% during the first quarter. Alps Advisors Inc. now owns 216,760 shares of the financial services provider’s stock worth $613,000 after buying an additional 194,565 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in shares of Genworth Financial by 29.7% in the first quarter. Oppenheimer & Co. Inc. now owns 76,426 shares of the financial services provider’s stock valued at $216,000 after purchasing an additional 17,500 shares in the last quarter. New York State Teachers Retirement System raised its stake in shares of Genworth Financial by 4.6% in the first quarter. New York State Teachers Retirement System now owns 1,039,917 shares of the financial services provider’s stock valued at $2,943,000 after purchasing an additional 46,000 shares in the last quarter. Zeke Capital Advisors LLC acquired a new position in shares of Genworth Financial in the first quarter valued at $105,000. Finally, Mackay Shields LLC acquired a new position in shares of Genworth Financial in the first quarter valued at $3,979,000. Institutional investors own 63.39% of the company’s stock.

Shares of NYSE GNW opened at $4.62 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.27 and a quick ratio of 0.27. The firm has a market capitalization of $2.33 billion, a P/E ratio of 3.32 and a beta of 2.40. Genworth Financial Inc has a one year low of $2.66 and a one year high of $4.92.

Genworth Financial (NYSE:GNW) last issued its earnings results on Tuesday, July 31st. The financial services provider reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.13. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.15 billion. Genworth Financial had a return on equity of 4.85% and a net margin of 9.32%. Genworth Financial’s revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.30 earnings per share. equities analysts anticipate that Genworth Financial Inc will post 1.11 EPS for the current year.

A number of research analysts recently commented on the company. Zacks Investment Research upgraded Genworth Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, July 3rd. ValuEngine lowered Genworth Financial from a “sell” rating to a “strong sell” rating in a research note on Monday, July 2nd. BTIG Research restated a “hold” rating on shares of Genworth Financial in a research note on Tuesday, June 12th. Finally, Wells Fargo & Co restated a “hold” rating and issued a $5.00 target price (up from $3.00) on shares of Genworth Financial in a research note on Wednesday, June 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $4.75.

About Genworth Financial

Genworth Financial, Inc provides insurance and homeownership solutions in the United States and internationally. It operates through five segments: U.S. Mortgage Insurance, Canada Mortgage Insurance, Australia Mortgage Insurance, U.S. Life Insurance, and Runoff. The U.S. Mortgage Insurance segment offers mortgage insurance products primarily insuring prime-based, individually underwritten residential mortgage loans.

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Institutional Ownership by Quarter for Genworth Financial (NYSE:GNW)

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