Genworth Financial, Inc. $GNW Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System cut its stake in shares of Genworth Financial, Inc. (NYSE:GNW) by 51.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 59,005 shares of the financial services provider’s stock after selling 62,797 shares during the period. Maryland State Retirement & Pension System’s holdings in Genworth Financial were worth $525,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. American Century Companies Inc. raised its stake in shares of Genworth Financial by 10.0% during the second quarter. American Century Companies Inc. now owns 8,863,036 shares of the financial services provider’s stock worth $68,954,000 after purchasing an additional 806,502 shares during the last quarter. Invesco Ltd. increased its stake in Genworth Financial by 41.0% in 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 during the period. Arrowstreet Capital Limited Partnership raised its position in Genworth Financial by 28.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,523,537 shares of the financial services provider’s stock worth $27,413,000 after buying an additional 774,010 shares during the last quarter. Norges Bank acquired a new stake in shares of Genworth Financial in the 2nd quarter worth $26,992,000. Finally, Cubist Systematic Strategies LLC boosted its holdings in shares of Genworth Financial by 4.0% in the second quarter. Cubist Systematic Strategies LLC now owns 1,835,764 shares of the financial services provider’s stock valued at $14,282,000 after acquiring an additional 70,157 shares in the last quarter. 81.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GNW has been the subject of several analyst reports. Keefe, Bruyette & Woods raised their price objective on shares of Genworth Financial from $9.50 to $10.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. Weiss Ratings downgraded Genworth Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday. Finally, Wall Street Zen upgraded Genworth Financial from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $10.00.

Genworth Financial Price Performance

Genworth Financial stock opened at $8.27 on Friday. The firm has a market capitalization of $3.30 billion, a PE ratio of 15.60 and a beta of 1.06. Genworth Financial, Inc. has a 52 week low of $5.99 and a 52 week high of $9.28. The firm’s 50-day simple moving average is $8.77 and its 200 day simple moving average is $8.52. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.15.

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

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.