Renaissance Technologies LLC Decreases Holdings in Genworth Financial, Inc. $GNW

Renaissance Technologies LLC trimmed its position in Genworth Financial, Inc. (NYSE:GNW) by 68.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 700,400 shares of the financial services provider’s stock after selling 1,531,900 shares during the period. Renaissance Technologies LLC owned approximately 0.18% of Genworth Financial worth $5,687,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Nuveen LLC boosted its position in shares of Genworth Financial by 2.3% in the 4th quarter. Nuveen LLC now owns 9,781,111 shares of the financial services provider’s stock worth $88,323,000 after purchasing an additional 223,279 shares in the last quarter. Gendell Jeffrey L increased its position in Genworth Financial by 168.0% during the 4th 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 in the last quarter. Norges Bank acquired a new position in Genworth Financial during the 4th quarter valued at about $45,912,000. Invesco Ltd. increased its position in Genworth Financial by 41.0% during the 2nd quarter. Invesco Ltd. now owns 4,291,220 shares of the financial services provider’s stock valued at $33,386,000 after buying an additional 1,248,374 shares in the last quarter. Finally, UBS Group AG raised its stake in Genworth Financial by 621.2% in the fourth quarter. UBS Group AG now owns 3,598,588 shares of the financial services provider’s stock valued at $32,495,000 after buying an additional 3,099,582 shares during the last quarter. 81.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on GNW shares. Zacks Research raised Genworth Financial to a “hold” rating in a report on Wednesday, May 27th. Wall Street Zen raised shares of Genworth Financial from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Keefe, Bruyette & Woods lifted their target price on shares of Genworth Financial from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Finally, Weiss Ratings downgraded shares of Genworth Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $12.00.

Insider Buying and Selling

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

Genworth Financial Stock Performance

Shares of GNW stock opened at $9.70 on Thursday. The business has a fifty day moving average of $9.35 and a 200 day moving average of $8.88. Genworth Financial, Inc. has a 1 year low of $7.84 and a 1 year high of $10.20. 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 firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of 18.64 and a beta of 0.87.

Genworth Financial (NYSE:GNW) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.70 billion. Genworth Financial had a return on equity of 1.73% and a net margin of 2.96%. As a group, research analysts expect that Genworth Financial, Inc. will post 1.1 earnings per share for the current year.

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.