LSV Asset Management Cuts Stake in Genworth Financial, Inc. $GNW

LSV Asset Management cut its holdings in shares of Genworth Financial, Inc. (NYSE:GNW) by 2.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,830,000 shares of the financial services provider’s stock after selling 111,100 shares during the quarter. LSV Asset Management owned 0.93% of Genworth Financial worth $29,797,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Donald Smith & CO. Inc. raised its stake in shares of Genworth Financial by 4.5% in the first quarter. Donald Smith & CO. Inc. now owns 27,114,581 shares of the financial services provider’s stock valued at $192,242,000 after acquiring an additional 1,165,112 shares in the last quarter. American Century Companies Inc. grew its stake in Genworth Financial by 11.6% during the 1st quarter. American Century Companies Inc. now owns 8,056,534 shares of the financial services provider’s stock worth $57,121,000 after purchasing an additional 836,192 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Genworth Financial by 1.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,269,135 shares of the financial services provider’s stock worth $37,358,000 after purchasing an additional 74,123 shares during the period. Nuveen LLC acquired a new stake in Genworth Financial in the 1st quarter valued at about $24,661,000. Finally, Bracebridge Capital LLC boosted its stake in shares of Genworth Financial by 12.6% in the 1st quarter. Bracebridge Capital LLC now owns 1,969,200 shares of the financial services provider’s stock valued at $13,962,000 after buying an additional 220,000 shares during the period. Institutional investors and hedge funds own 81.85% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Genworth Financial from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reissued a “buy (b-)” rating on shares of Genworth Financial in a research report on Monday. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Genworth Financial from $9.50 to $10.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $10.00.

Genworth Financial Stock Performance

Shares of GNW opened at $8.42 on Wednesday. The stock has a 50 day moving average price of $8.67 and a 200 day moving average price of $8.02. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of 15.88 and a beta of 1.05. Genworth Financial, Inc. has a 52-week low of $5.99 and a 52-week high of $9.15.

Genworth Financial (NYSE:GNW) last released its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). Genworth Financial had a return on equity of 1.56% and a net margin of 3.01%.The company had revenue of $1.04 billion for the quarter.

Insider Activity

In other Genworth Financial news, CEO Rohit Gupta sold 86,406 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $8.68, for a total transaction of $750,004.08. Following the transaction, the chief executive officer owned 794,630 shares of the company’s stock, valued at approximately $6,897,388.40. This trade represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.80% of the company’s stock.

Genworth Financial Company Profile

Genworth Financial, Inc, together with its subsidiaries, provides mortgage and long-term care insurance products in the United States and internationally. It operates in three segments: Enact, Long-Term Care Insurance, and Life and Annuities. The Enact segment offers private mortgage insurance products primarily insuring prime-based, individually underwritten residential mortgage loans; and pool mortgage insurance products.