State Treasurer State of Michigan increased its stake in shares of Genworth Financial Inc (NYSE:GNW) by 1.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 205,650 shares of the financial services provider’s stock after buying an additional 3,100 shares during the period. State Treasurer State of Michigan’s holdings in Genworth Financial were worth $775,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Genworth Financial by 9,605.2% in the first quarter. BlackRock Inc. now owns 48,718,954 shares of the financial services provider’s stock valued at $200,723,000 after buying an additional 48,216,968 shares during the last quarter. State Street Corp raised its position in shares of Genworth Financial by 4.8% in the first quarter. State Street Corp now owns 22,984,009 shares of the financial services provider’s stock valued at $94,689,000 after buying an additional 1,047,155 shares during the last quarter. FMR LLC raised its position in shares of Genworth Financial by 6.8% in the first quarter. FMR LLC now owns 17,256,792 shares of the financial services provider’s stock valued at $71,098,000 after buying an additional 1,096,921 shares during the last quarter. Southpoint Capital Advisors LP bought a new position in shares of Genworth Financial during the first quarter valued at approximately $25,192,000. Finally, Bank of New York Mellon Corp raised its position in shares of Genworth Financial by 4.6% in the first quarter. Bank of New York Mellon Corp now owns 5,983,450 shares of the financial services provider’s stock valued at $24,653,000 after buying an additional 261,744 shares during the last quarter. 66.96% of the stock is owned by hedge funds and other institutional investors.

Genworth Financial Inc (NYSE:GNW) traded down 2.69% during trading on Wednesday, reaching $3.62. 1,441,096 shares of the company’s stock were exchanged. The stock’s market capitalization is $1.81 billion. Genworth Financial Inc has a 52 week low of $3.23 and a 52 week high of $5.27. The stock has a 50-day moving average of $3.55 and a 200-day moving average of $3.76.

Genworth Financial (NYSE:GNW) last released its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.08. The firm had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.14 billion. Genworth Financial had a negative return on equity of 1.63% and a negative net margin of 1.66%. Genworth Financial’s revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.39 earnings per share. On average, equities research analysts anticipate that Genworth Financial Inc will post $1.02 EPS for the current year.

COPYRIGHT VIOLATION WARNING: This story was reported by Daily Political and is the property of of Daily Political. If you are viewing this story on another website, it was stolen and reposted in violation of international trademark & copyright laws. The legal version of this story can be accessed at https://www.dailypolitical.com/2017/08/09/genworth-financial-inc-gnw-shares-bought-by-state-treasurer-state-of-michigan.html.

GNW has been the subject of several research analyst reports. Zacks Investment Research lowered shares of Genworth Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Wells Fargo & Company reissued a “hold” rating on shares of Genworth Financial in a research report on Tuesday, August 1st. BidaskClub raised shares of Genworth Financial from a “sell” rating to a “hold” rating in a research report on Saturday, July 1st. Finally, ValuEngine raised shares of Genworth Financial from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $4.17.

About Genworth Financial

Genworth Financial, Inc (Genworth) is a financial security company. The Company provides insurance, wealth management, investment and financial solutions. As of December 31, 2011, the Company had more than 15 million customers, with a presence in more than 25 countries. The Company operates in Insurance, Mortgage Insurance and Corporate and Runoff.

Want to see what other hedge funds are holding GNW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Genworth Financial Inc (NYSE:GNW).

Institutional Ownership by Quarter for Genworth Financial (NYSE:GNW)

Receive News & Ratings for Genworth Financial Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genworth Financial Inc and related companies with MarketBeat.com's FREE daily email newsletter.