Squarepoint Ops LLC Sells 467,824 Shares of Genworth Financial, Inc. $GNW

Squarepoint Ops LLC reduced its stake in shares of Genworth Financial, Inc. (NYSE:GNW) by 42.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 625,089 shares of the financial services provider’s stock after selling 467,824 shares during the quarter. Squarepoint Ops LLC’s holdings in Genworth Financial were worth $5,920,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Donald Smith & CO. Inc. acquired a new stake in Genworth Financial in the 2nd quarter worth $212,906,000. Nuveen LLC raised its position in shares of Genworth Financial by 2.3% during the fourth quarter. Nuveen LLC now owns 9,781,111 shares of the financial services provider’s stock valued at $88,323,000 after buying an additional 223,279 shares during the last quarter. Gendell Jeffrey L lifted its stake in shares of Genworth Financial by 168.0% in the fourth quarter. Gendell Jeffrey L now owns 6,485,888 shares of the financial services provider’s stock valued at $58,568,000 after buying an additional 4,065,684 shares during the period. Norges Bank bought a new stake in shares of Genworth Financial in the fourth quarter valued at about $45,912,000. Finally, Invesco Ltd. grew its position in Genworth Financial by 41.0% during the second quarter. Invesco Ltd. now owns 4,291,220 shares of the financial services provider’s stock worth $33,386,000 after buying an additional 1,248,374 shares in the last quarter. 81.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on GNW shares. Keefe, Bruyette & Woods upgraded Genworth Financial from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. Weiss Ratings raised Genworth Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, September 2nd. Wall Street Zen upgraded Genworth Financial from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Zacks Research upgraded Genworth Financial to a “hold” rating in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $12.00.

Insider Activity at Genworth Financial

In other news, CEO Thomas McInerney sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $10.53, for a total value of $1,053,000.00. Following the sale, the chief executive officer directly owned 5,068,883 shares in the company, valued at approximately $53,375,337.99. This represents a 1.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Melissa Hagerman sold 14,708 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $9.91, for a total value of $145,756.28. Following the completion of the transaction, the executive vice president directly owned 192,539 shares of the company’s stock, valued at approximately $1,908,061.49. The trade was a 7.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.80% of the company’s stock.

Genworth Financial Price Performance

Shares of Genworth Financial stock opened at $10.49 on Friday. The firm has a market cap of $3.96 billion, a P/E ratio of 20.17 and a beta of 0.85. The firm’s 50-day simple moving average is $9.93 and its 200-day simple moving average is $9.15. Genworth Financial, Inc. has a twelve month low of $7.84 and a twelve month high of $10.69. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.29 and a current ratio of 0.29.

Genworth Financial (NYSE:GNW) last posted its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.01. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.90 billion. Genworth Financial had a net margin of 2.87% and a return on equity of 1.06%. As a group, research analysts expect that Genworth Financial, Inc. will post 1.11 EPS for the current fiscal year.

About Genworth Financial

Genworth Financial, Inc is an insurance holding company headquartered in Richmond, Virginia. The company’s primary business is U.S. mortgage insurance, which helps lenders manage credit risk and enables eligible homebuyers to purchase homes with down payments below traditional requirements. This business operates through Enact Holdings, Inc, a publicly traded subsidiary in which Genworth remains a significant shareholder.

Genworth also manages a substantial portfolio of long-term care insurance policies, providing benefits that may help cover nursing care, assisted living, home health care and other extended-care services.