Freedom Investment Management Inc. Cuts Position in Genworth Financial, Inc. $GNW

Freedom Investment Management Inc. reduced its stake in shares of Genworth Financial, Inc. (NYSE:GNW) by 3.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 38,953 shares of the financial services provider’s stock after selling 1,273 shares during the quarter. Freedom Investment Management Inc.’s holdings in Genworth Financial were worth $303,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Nuveen LLC acquired a new stake in Genworth Financial during the 1st quarter valued at approximately $24,661,000. Donald Smith & CO. Inc. grew its position in shares of Genworth Financial by 4.5% in the 1st quarter. Donald Smith & CO. Inc. now owns 27,114,581 shares of the financial services provider’s stock worth $192,242,000 after acquiring an additional 1,165,112 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Genworth Financial by 11.6% in the 1st quarter. American Century Companies Inc. now owns 8,056,534 shares of the financial services provider’s stock worth $57,121,000 after purchasing an additional 836,192 shares during the last quarter. Trexquant Investment LP lifted its holdings in shares of Genworth Financial by 162.4% in the 1st quarter. Trexquant Investment LP now owns 1,330,661 shares of the financial services provider’s stock worth $9,434,000 after purchasing an additional 823,470 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its holdings in shares of Genworth Financial by 56.8% in the 1st quarter. Cubist Systematic Strategies LLC now owns 1,765,607 shares of the financial services provider’s stock worth $12,518,000 after purchasing an additional 639,676 shares during the last quarter. 81.85% of the stock is currently owned by hedge funds and other institutional investors.

Genworth Financial Stock Up 0.4%

GNW opened at $8.56 on Monday. Genworth Financial, Inc. has a one year low of $5.99 and a one year high of $9.15. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.29 and a current ratio of 0.29. The stock’s fifty day moving average is $8.69 and its 200-day moving average is $7.80. The company has a market capitalization of $3.51 billion, a PE ratio of 19.01 and a beta of 0.99.

Genworth Financial (NYSE:GNW) last posted its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.11. Genworth Financial had a return on equity of 1.91% and a net margin of 2.61%.The company had revenue of $1.80 billion for the quarter.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GNW shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Genworth Financial in a report on Saturday. Wall Street Zen cut shares of Genworth Financial from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Genworth Financial from $9.50 to $10.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $10.00.

Insider Activity

In related news, CEO Rohit Gupta sold 86,406 shares of Genworth Financial stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $8.68, for a total value of $750,004.08. Following the transaction, the chief executive officer directly owned 794,630 shares in the company, valued at $6,897,388.40. The trade was a 9.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.80% of the stock is owned by insiders.

Genworth Financial Company Profile

Genworth Financial, Inc, together with its subsidiaries, provides mortgage and long-term care insurance products in the United States and internationally. It operates in three segments: Enact, Long-Term Care Insurance, and Life and Annuities. The Enact segment offers private mortgage insurance products primarily insuring prime-based, individually underwritten residential mortgage loans; and pool mortgage insurance products.