Genworth Financial, Inc. $GNW Shares Sold by Earned Wealth Advisors LLC

Earned Wealth Advisors LLC cut its holdings in shares of Genworth Financial, Inc. (NYSE:GNW) by 9.5% in the 2nd quarter, Holdings Channel reports. The fund owned 45,295 shares of the financial services provider’s stock after selling 4,752 shares during the period. Earned Wealth Advisors LLC’s holdings in Genworth Financial were worth $352,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Donald Smith & CO. Inc. boosted its holdings in Genworth Financial by 4.5% in the first quarter. Donald Smith & CO. Inc. now owns 27,114,581 shares of the financial services provider’s stock valued at $192,242,000 after purchasing an additional 1,165,112 shares during the last quarter. American Century Companies Inc. raised its position in shares of Genworth Financial by 11.6% in the 1st quarter. American Century Companies Inc. now owns 8,056,534 shares of the financial services provider’s stock valued at $57,121,000 after purchasing an additional 836,192 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Genworth Financial by 1.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,269,135 shares of the financial services provider’s stock valued at $37,358,000 after buying an additional 74,123 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Genworth Financial during the first quarter worth approximately $24,661,000. Finally, Principal Financial Group Inc. increased its stake in shares of Genworth Financial by 2.7% in the first quarter. Principal Financial Group Inc. now owns 2,126,240 shares of the financial services provider’s stock worth $15,075,000 after buying an additional 55,085 shares during the last quarter. Institutional investors and hedge funds own 81.85% of the company’s stock.

Genworth Financial Stock Performance

Shares of NYSE GNW opened at $8.42 on Friday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.16. The firm’s 50-day moving average price is $8.69 and its two-hundred day moving average price is $7.84. Genworth Financial, Inc. has a 52-week low of $5.99 and a 52-week high of $9.15. The stock has a market capitalization of $3.45 billion, a P/E ratio of 18.70 and a beta of 0.99.

Genworth Financial (NYSE:GNW) last announced its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.11. The business had revenue of $1.80 billion for the quarter. Genworth Financial had a return on equity of 1.91% and a net margin of 2.61%.

Insiders Place Their Bets

In other Genworth Financial news, CEO Rohit Gupta sold 86,406 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $8.68, for a total value of $750,004.08. Following the sale, the chief executive officer directly owned 794,630 shares of the company’s stock, valued at $6,897,388.40. This trade represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on GNW shares. Keefe, Bruyette & Woods raised their price objective on shares of Genworth Financial from $9.50 to $10.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. Wall Street Zen downgraded Genworth Financial from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Genworth Financial in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $10.00.

Genworth Financial Company Profile

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.