Genworth Financial, Inc. $GNW Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its position in shares of Genworth Financial, Inc. (NYSE:GNW) by 45.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 77,902 shares of the financial services provider’s stock after selling 65,638 shares during the period. State of Alaska Department of Revenue’s holdings in Genworth Financial were worth $698,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Donald Smith & CO. Inc. acquired a new stake in shares of Genworth Financial in the second quarter valued at about $212,906,000. Bank of New York Mellon Corp acquired a new position in shares of Genworth Financial during the 2nd quarter worth about $22,798,000. Bank of America Corp DE boosted its stake in Genworth Financial by 133.2% during the 1st quarter. Bank of America Corp DE now owns 2,158,625 shares of the financial services provider’s stock valued at $17,528,000 after purchasing an additional 1,232,931 shares during the period. SG Americas Securities LLC boosted its stake in Genworth Financial by 173.7% during the 1st quarter. SG Americas Securities LLC now owns 1,188,288 shares of the financial services provider’s stock valued at $9,649,000 after purchasing an additional 754,105 shares during the period. Finally, Fifth Third Bancorp grew its holdings in Genworth Financial by 21,643.4% in the 1st quarter. Fifth Third Bancorp now owns 562,936 shares of the financial services provider’s stock valued at $4,571,000 after buying an additional 560,347 shares during the last quarter. Institutional investors own 81.85% of the company’s stock.

Insider Buying and Selling at Genworth Financial

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on GNW shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $10.50 price target (down from $11.50) on shares of Genworth Financial in a report on Friday, October 9th. Wall Street Zen raised shares of Genworth Financial from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Weiss Ratings upgraded shares of Genworth Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $10.50.

Genworth Financial Price Performance

GNW opened at $8.93 on Friday. 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, Inc. has a 52 week low of $7.84 and a 52 week high of $10.69. The company has a fifty day moving average price of $9.74 and a two-hundred day moving average price of $9.40. The firm has a market capitalization of $3.37 billion, a PE ratio of 25.29 and a beta of 0.88.

Genworth Financial (NYSE:GNW) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.01. The company 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, analysts anticipate that Genworth Financial, Inc. will post 1.11 earnings per share for the current year.

Genworth Financial Profile

Genworth Financial, Inc is an insurance holding company headquartered in Richmond, Virginia. The company’s principal business is mortgage insurance, primarily through its majority-owned subsidiary, Enact Holdings, Inc Enact provides private mortgage insurance to lenders and mortgage investors, helping eligible borrowers obtain home loans with smaller down payments while reducing lenders’ exposure to borrower default.

Genworth also manages long-term care insurance businesses and legacy insurance obligations in the United States.