Genworth Financial, Inc. (NYSE:GNW) Shares Sold by Shah Capital Management

Shah Capital Management lessened its holdings in Genworth Financial, Inc. (NYSE:GNW) by 0.4% in the second quarter, HoldingsChannel reports. The fund owned 2,988,586 shares of the financial services provider’s stock after selling 11,414 shares during the period. Genworth Financial accounts for 3.9% of Shah Capital Management’s portfolio, making the stock its 7th largest position. Shah Capital Management’s holdings in Genworth Financial were worth $18,051,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank bought a new stake in Genworth Financial in the 4th quarter valued at about $23,292,000. Donald Smith & CO. Inc. raised its position in shares of Genworth Financial by 14.5% in the first quarter. Donald Smith & CO. Inc. now owns 24,244,607 shares of the financial services provider’s stock valued at $155,893,000 after buying an additional 3,069,355 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Genworth Financial by 138.3% in the second quarter. Assenagon Asset Management S.A. now owns 4,233,541 shares of the financial services provider’s stock valued at $25,571,000 after buying an additional 2,456,816 shares during the period. Acadian Asset Management LLC grew its position in Genworth Financial by 1,896.5% during the second quarter. Acadian Asset Management LLC now owns 733,968 shares of the financial services provider’s stock worth $4,428,000 after buying an additional 697,206 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Genworth Financial by 9.1% during the second quarter. American Century Companies Inc. now owns 7,054,069 shares of the financial services provider’s stock worth $42,607,000 after buying an additional 590,496 shares in the last quarter. 81.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com downgraded Genworth Financial from a “buy” rating to a “hold” rating in a research report on Friday, September 6th.

Genworth Financial Trading Up 0.1 %

Shares of Genworth Financial stock opened at $6.75 on Wednesday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.17. Genworth Financial, Inc. has a 12-month low of $5.32 and a 12-month high of $7.01. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of 35.53 and a beta of 0.94. The firm’s 50-day moving average price is $6.62 and its two-hundred day moving average price is $6.36.

Genworth Financial (NYSE:GNW) last issued its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.09. The company had revenue of $1.77 billion during the quarter. Genworth Financial had a net margin of 0.43% and a return on equity of 0.25%. During the same period last year, the company posted $0.29 EPS.

Insider Buying and Selling at Genworth Financial

In related news, CEO Thomas J. Mcinerney sold 150,000 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $6.88, for a total transaction of $1,032,000.00. Following the completion of the sale, the chief executive officer now directly owns 4,532,954 shares in the company, valued at approximately $31,186,723.52. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.80% of the company’s stock.

About Genworth Financial

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.