Texas Permanent School Fund Corp Cuts Stock Holdings in Genworth Financial, Inc. $GNW

Texas Permanent School Fund Corp lowered its stake in Genworth Financial, Inc. (NYSE:GNW) by 21.1% during the 2nd quarter, Holdings Channel reports. The firm owned 313,431 shares of the financial services provider’s stock after selling 83,950 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Genworth Financial were worth $2,438,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Headlands Technologies LLC bought a new stake in shares of Genworth Financial in the second quarter worth about $44,000. EverSource Wealth Advisors LLC grew its holdings in Genworth Financial by 140.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,063 shares of the financial services provider’s stock valued at $63,000 after buying an additional 4,708 shares in the last quarter. Seven Mile Advisory bought a new stake in Genworth Financial in the 2nd quarter worth approximately $78,000. Haven Private LLC purchased a new stake in shares of Genworth Financial during the 2nd quarter worth approximately $88,000. Finally, Strs Ohio bought a new position in shares of Genworth Financial during the 1st quarter valued at approximately $82,000. Institutional investors own 81.85% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on GNW. Weiss Ratings restated a “buy (b-)” rating on shares of Genworth Financial in a research report on Monday, December 15th. Wall Street Zen upgraded shares of Genworth Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Genworth Financial from $9.50 to $10.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $10.00.

Genworth Financial Trading Up 0.1%

Shares of GNW opened at $9.17 on Friday. The company’s fifty day simple moving average is $8.64 and its 200-day simple moving average is $8.29. The company has a market cap of $3.66 billion, a P/E ratio of 17.30 and a beta of 1.02. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.15. Genworth Financial, Inc. has a twelve month low of $5.99 and a twelve month high of $9.23.

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

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.