JPMorgan Chase & Co. Trims Stock Holdings in Genworth Financial, Inc. $GNW

JPMorgan Chase & Co. decreased its holdings in shares of Genworth Financial, Inc. (NYSE:GNW) by 32.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,150,680 shares of the financial services provider’s stock after selling 545,026 shares during the quarter. JPMorgan Chase & Co.’s holdings in Genworth Financial were worth $10,241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Arizona State Retirement System raised its stake in shares of Genworth Financial by 1.0% during the 3rd quarter. Arizona State Retirement System now owns 122,642 shares of the financial services provider’s stock valued at $1,092,000 after purchasing an additional 1,271 shares during the period. Smartleaf Asset Management LLC boosted its stake in Genworth Financial by 12.7% in the 3rd quarter. Smartleaf Asset Management LLC now owns 11,638 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 1,316 shares during the period. Nisa Investment Advisors LLC grew its holdings in Genworth Financial by 9.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 16,848 shares of the financial services provider’s stock valued at $150,000 after buying an additional 1,408 shares in the last quarter. Bessemer Group Inc. increased its position in shares of Genworth Financial by 60.6% during the third quarter. Bessemer Group Inc. now owns 3,830 shares of the financial services provider’s stock valued at $34,000 after buying an additional 1,445 shares during the period. Finally, Mackenzie Financial Corp increased its position in shares of Genworth Financial by 1.8% during the third quarter. Mackenzie Financial Corp now owns 88,379 shares of the financial services provider’s stock valued at $787,000 after buying an additional 1,523 shares during the period. 81.85% of the stock is owned by institutional investors.

Genworth Financial Trading Down 3.9%

Shares of NYSE GNW opened at $7.99 on Friday. The stock has a market capitalization of $3.10 billion, a P/E ratio of 15.07 and a beta of 1.00. 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 business’s 50 day moving average is $8.44 and its two-hundred day moving average is $8.64. Genworth Financial, Inc. has a 1-year low of $5.99 and a 1-year high of $9.28.

Genworth Financial (NYSE:GNW) last released its quarterly earnings results on Monday, February 23rd. The financial services provider reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.14). Genworth Financial had a return on equity of 1.48% and a net margin of 3.05%.The firm had revenue of $1.04 billion for the quarter.

Analyst Upgrades and Downgrades

GNW has been the topic of several recent analyst reports. Weiss Ratings cut Genworth Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, March 5th. Keefe, Bruyette & Woods reissued a “moderate buy” rating and set a $10.50 price target on shares of Genworth Financial in a research report on Thursday. Finally, Wall Street Zen lowered shares of Genworth Financial from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Genworth Financial has an average rating of “Moderate Buy” and an average price target of $10.50.

Genworth Financial Company Profile

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.