California Public Employees Retirement System lowered its position in shares of Genworth Financial Inc (NYSE:GNW) by 41.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,951,371 shares of the financial services provider’s stock after selling 1,407,444 shares during the period. California Public Employees Retirement System owned about 0.39% of Genworth Financial worth $8,781,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Millennium Management LLC purchased a new stake in Genworth Financial during the 1st quarter valued at $111,000. Advisors Preferred LLC purchased a new stake in Genworth Financial during the 2nd quarter valued at $132,000. Laurion Capital Management LP purchased a new stake in Genworth Financial during the 2nd quarter valued at $154,000. First Allied Advisory Services Inc. boosted its position in Genworth Financial by 51.4% during the 1st quarter. First Allied Advisory Services Inc. now owns 56,261 shares of the financial services provider’s stock valued at $165,000 after buying an additional 19,105 shares during the period. Finally, Mint Tower Capital Management B.V. purchased a new stake in Genworth Financial during the 2nd quarter valued at $180,000. 63.34% of the stock is owned by institutional investors and hedge funds.
Shares of GNW opened at $4.14 on Tuesday. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 2.96 and a beta of 2.39. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.27 and a quick ratio of 0.27. Genworth Financial Inc has a twelve month low of $2.66 and a twelve month high of $4.92.
Genworth Financial (NYSE:GNW) last issued its quarterly earnings data on Tuesday, July 31st. The financial services provider reported $0.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.13. Genworth Financial had a net margin of 9.32% and a return on equity of 4.85%. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same period in the prior year, the business earned $0.30 EPS. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, equities research analysts forecast that Genworth Financial Inc will post 1.11 EPS for the current fiscal year.
Several equities research analysts have weighed in on the stock. ValuEngine raised shares of Genworth Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, October 2nd. Zacks Investment Research raised shares of Genworth Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, July 3rd. Finally, BTIG Research reissued a “hold” rating on shares of Genworth Financial in a research report on Tuesday, June 12th. Four equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $5.13.
Genworth Financial Profile
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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