Louisiana State Employees Retirement System Purchases New Shares in Genworth Financial, Inc. $GNW

Louisiana State Employees Retirement System bought a new position in Genworth Financial, Inc. (NYSE:GNW) during the first quarter, Holdings Channel.com reports. The firm bought 177,100 shares of the financial services provider’s stock, valued at approximately $1,438,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Headlands Technologies LLC purchased a new position in Genworth Financial in the second quarter valued at about $44,000. Larson Financial Group LLC boosted its stake in Genworth Financial by 12,597.7% in the 3rd quarter. Larson Financial Group LLC now owns 5,587 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 5,543 shares during the period. Danske Bank A S purchased a new position in Genworth Financial during the third quarter valued at approximately $60,000. EverSource Wealth Advisors LLC grew its position in shares of Genworth Financial by 140.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,063 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 4,708 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its stake in Genworth Financial by 124.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 7,159 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 3,966 shares during the last quarter. 81.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Genworth Financial

In other news, CEO Thomas J. Mcinerney sold 100,000 shares of Genworth Financial stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $9.27, for a total value of $927,000.00. Following the completion of the sale, the chief executive officer directly owned 5,368,883 shares in the company, valued at $49,769,545.41. The trade was a 1.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert P. Restrepo, Jr. sold 50,000 shares of Genworth Financial stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $9.12, for a total transaction of $456,000.00. Following the completion of the sale, the director directly owned 92,655 shares of the company’s stock, valued at approximately $845,013.60. This trade represents a 35.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

GNW has been the topic of a number of research analyst reports. Wall Street Zen lowered shares of Genworth Financial from a “hold” rating to a “sell” rating in a report on Sunday, May 17th. Keefe, Bruyette & Woods lifted their price target on Genworth Financial from $10.50 to $11.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Zacks Research raised shares of Genworth Financial to a “hold” rating in a research note on Wednesday, May 27th. Finally, Weiss Ratings upgraded Genworth Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Genworth Financial has a consensus rating of “Moderate Buy” and an average target price of $11.00.

Genworth Financial Stock Performance

Shares of GNW opened at $9.61 on Friday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.15. The business’s 50 day moving average price is $9.00 and its 200-day moving average price is $8.74. Genworth Financial, Inc. has a 52 week low of $7.13 and a 52 week high of $9.65. The stock has a market cap of $3.68 billion, a P/E ratio of 18.47 and a beta of 0.85.

Genworth Financial (NYSE:GNW) last issued its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.10. Genworth Financial had a return on equity of 1.73% and a net margin of 2.96%.The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.72 billion. Equities research analysts anticipate that Genworth Financial, Inc. will post 0.44 earnings per share for the current fiscal year.

Genworth Financial 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.