Genworth Financial, Inc. $GNW Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lowered its stake in shares of Genworth Financial, Inc. (NYSE:GNW) by 68.6% in the first quarter, HoldingsChannel.com reports. 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’s holdings in Genworth Financial were worth $5,687,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Captrust Financial Advisors boosted its stake in shares of Genworth Financial by 8.3% in the fourth quarter. Captrust Financial Advisors now owns 14,770 shares of the financial services provider’s stock worth $133,000 after buying an additional 1,133 shares during the last quarter. Truist Financial Corp raised its position in Genworth Financial by 9.6% during the fourth quarter. Truist Financial Corp now owns 14,342 shares of the financial services provider’s stock valued at $130,000 after acquiring an additional 1,257 shares in the last quarter. Abel Hall LLC lifted its holdings in Genworth Financial by 11.9% in the fourth quarter. Abel Hall LLC now owns 12,672 shares of the financial services provider’s stock valued at $114,000 after acquiring an additional 1,348 shares during the period. ProShare Advisors LLC lifted its holdings in Genworth Financial by 1.8% in the fourth quarter. ProShare Advisors LLC now owns 78,983 shares of the financial services provider’s stock valued at $713,000 after acquiring an additional 1,382 shares during the period. Finally, Mackenzie Financial Corp boosted its position in Genworth Financial by 1.8% in the 3rd quarter. Mackenzie Financial Corp now owns 88,379 shares of the financial services provider’s stock worth $787,000 after purchasing an additional 1,523 shares in the last quarter. Institutional investors and hedge funds own 81.85% of the company’s stock.

Genworth Financial Stock Performance

NYSE GNW opened at $9.70 on Thursday. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of 18.64 and a beta of 0.87. The stock has a 50-day moving average of $9.35 and a 200 day moving average of $8.88. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.15. Genworth Financial, Inc. has a twelve month low of $7.84 and a twelve month high of $10.20.

Genworth Financial (NYSE:GNW) last issued its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.29 EPS for the quarter, beating the consensus estimate of $0.28 by $0.01. The company 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%. Sell-side analysts anticipate that Genworth Financial, Inc. will post 1.1 EPS for the current fiscal year.

Insider Activity at Genworth Financial

In related news, CEO Thomas J. Mcinerney sold 100,000 shares of Genworth Financial stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $9.27, for a total value of $927,000.00. Following the sale, the chief executive officer owned 5,368,883 shares of the company’s stock, valued at approximately $49,769,545.41. This trade represents a 1.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert P. Restrepo, Jr. sold 50,000 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $9.12, for a total transaction of $456,000.00. Following the completion of the sale, the director directly owned 92,655 shares of the company’s stock, valued at approximately $845,013.60. The trade was a 35.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on GNW shares. Keefe, Bruyette & Woods raised their price objective 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. Zacks Research raised shares of Genworth Financial to a “hold” rating in a report on Wednesday, May 27th. Wall Street Zen upgraded shares of Genworth Financial from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Weiss Ratings cut shares of Genworth Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, July 17th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Genworth Financial has a consensus rating of “Hold” and an average price target of $12.00.

About Genworth Financial

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.