Traynor Capital Management Inc. reduced its position in shares of Genworth Financial Inc (NYSE:GNW) by 74.0% during the second quarter, Holdings Channel reports. The fund owned 38,409 shares of the financial services provider’s stock after selling 109,429 shares during the period. Traynor Capital Management Inc.’s holdings in Genworth Financial were worth $132,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. NEXT Financial Group Inc raised its position in shares of Genworth Financial by 0.5% in the second quarter. NEXT Financial Group Inc now owns 31,651 shares of the financial services provider’s stock worth $119,000 after buying an additional 151 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of Genworth Financial by 1.1% in the second quarter. Teacher Retirement System of Texas now owns 40,020 shares of the financial services provider’s stock worth $151,000 after buying an additional 418 shares during the last quarter. Capstone Asset Management Co. raised its position in shares of Genworth Financial by 0.8% in the first quarter. Capstone Asset Management Co. now owns 80,424 shares of the financial services provider’s stock worth $331,000 after buying an additional 630 shares during the last quarter. World Asset Management Inc raised its position in shares of Genworth Financial by 2.4% in the first quarter. World Asset Management Inc now owns 41,689 shares of the financial services provider’s stock worth $172,000 after buying an additional 984 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Genworth Financial by 0.3% in the first quarter. Wellington Management Group LLP now owns 292,904 shares of the financial services provider’s stock worth $1,207,000 after buying an additional 1,002 shares during the last quarter. 66.96% of the stock is currently owned by institutional investors.

Shares of Genworth Financial Inc (GNW) opened at 3.48 on Friday. The firm’s market capitalization is $1.74 billion. The company’s 50 day moving average price is $3.54 and its 200 day moving average price is $3.75. Genworth Financial Inc has a 52-week low of $3.23 and a 52-week high of $5.27.

Genworth Financial (NYSE:GNW) last released its earnings results on Tuesday, August 1st. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.08. The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.14 billion. Genworth Financial had a negative return on equity of 1.63% and a negative net margin of 1.66%. The company’s revenue was down .6% on a year-over-year basis. During the same quarter last year, the firm posted $0.39 EPS. Analysts forecast that Genworth Financial Inc will post $1.02 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: This piece of content was reported by Daily Political and is the property of of Daily Political. If you are accessing this piece of content on another site, it was illegally stolen and republished in violation of US and international copyright & trademark legislation. The legal version of this piece of content can be viewed at https://www.dailypolitical.com/2017/08/12/genworth-financial-inc-gnw-position-lowered-by-traynor-capital-management-inc.html.

A number of brokerages have issued reports on GNW. BidaskClub raised Genworth Financial from a “sell” rating to a “hold” rating in a research report on Saturday, July 1st. ValuEngine raised Genworth Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Genworth Financial in a research report on Tuesday, May 2nd. Zacks Investment Research lowered Genworth Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of Genworth Financial in a research report on Wednesday, April 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $4.17.

Genworth Financial Company Profile

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.