EMC Capital Management Reduces Holdings in Genworth Financial, Inc. $GNW

EMC Capital Management reduced its position in Genworth Financial, Inc. (NYSE:GNW) by 58.4% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 15,721 shares of the financial services provider’s stock after selling 22,050 shares during the period. EMC Capital Management’s holdings in Genworth Financial were worth $122,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of GNW. Blueshift Asset Management LLC purchased a new stake in shares of Genworth Financial during the first quarter worth about $71,000. Abel Hall LLC acquired a new stake in Genworth Financial during the 1st quarter valued at approximately $71,000. Strs Ohio purchased a new stake in Genworth Financial during the 1st quarter worth approximately $82,000. Haven Private LLC purchased a new stake in Genworth Financial during the 2nd quarter worth approximately $88,000. Finally, GAMMA Investing LLC raised its position in shares of Genworth Financial by 29.5% in the 2nd quarter. GAMMA Investing LLC now owns 11,770 shares of the financial services provider’s stock valued at $92,000 after purchasing an additional 2,679 shares in the last quarter. 81.85% of the stock is currently owned by institutional investors and hedge funds.

Genworth Financial Stock Up 0.5%

Shares of NYSE:GNW opened at $8.46 on Thursday. The company’s fifty day moving average is $8.66 and its two-hundred day moving average is $8.02. 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 1-year low of $5.99 and a 1-year high of $9.15. The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of 15.95 and a beta of 1.05.

Genworth Financial (NYSE:GNW) last announced its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The business had revenue of $1.04 billion for the quarter. Genworth Financial had a net margin of 3.01% and a return on equity of 1.56%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on GNW shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Genworth Financial in a research report on Monday. Wall Street Zen raised shares of Genworth Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Finally, Keefe, Bruyette & Woods boosted their price objective on Genworth Financial from $9.50 to $10.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $10.00.

Insider Activity at Genworth Financial

In related news, CEO Rohit Gupta sold 86,406 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $8.68, for a total value of $750,004.08. Following the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, 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.