Genworth Financial, Inc. $GNW Holdings Reduced by ProShare Advisors LLC

ProShare Advisors LLC cut its holdings in shares of Genworth Financial, Inc. (NYSE:GNW) by 52.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,844 shares of the financial services provider’s stock after selling 57,212 shares during the period. ProShare Advisors LLC’s holdings in Genworth Financial were worth $474,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. acquired a new position in shares of Genworth Financial during the second quarter valued at approximately $212,906,000. Bank of New York Mellon Corp bought a new stake in Genworth Financial in the second quarter worth about $22,798,000. Bank of America Corp DE lifted its holdings in Genworth Financial by 133.2% in the 1st quarter. Bank of America Corp DE now owns 2,158,625 shares of the financial services provider’s stock valued at $17,528,000 after acquiring an additional 1,232,931 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Genworth Financial by 21,643.4% during the 1st quarter. Fifth Third Bancorp now owns 562,936 shares of the financial services provider’s stock valued at $4,571,000 after purchasing an additional 560,347 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al boosted its holdings in Genworth Financial by 1,233.9% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 342,800 shares of the financial services provider’s stock worth $3,075,000 after buying an additional 317,100 shares in the last quarter. Institutional investors and hedge funds own 81.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Keefe, Bruyette & Woods downgraded Genworth Financial from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $11.50 to $10.50 in a research report on Friday, October 9th. Weiss Ratings upgraded shares of Genworth Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 21st. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Genworth Financial presently has an average rating of “Hold” and a consensus target price of $10.50.

Insider Activity

In other news, CEO Thomas J. Mcinerney sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $10.53, for a total transaction of $1,053,000.00. Following the completion of the transaction, the chief executive officer directly owned 5,068,883 shares of the company’s stock, valued at $53,375,337.99. This trade represents a 1.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Melissa Hagerman sold 14,708 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $9.91, for a total value of $145,756.28. Following the sale, the executive vice president owned 192,539 shares in the company, valued at $1,908,061.49. The trade was a 7.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.80% of the company’s stock.

Genworth Financial Price Performance

Shares of Genworth Financial stock opened at $8.75 on Tuesday. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of 15.85 and a beta of 0.87. Genworth Financial, Inc. has a 1-year low of $7.84 and a 1-year high of $10.69. The firm’s 50-day moving average price is $9.48 and its two-hundred day moving average price is $9.12. 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 (NYSE:GNW) last released its quarterly earnings results on Wednesday, November 4th. The financial services provider reported $0.27 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.01). Genworth Financial had a net margin of 0.76% and a return on equity of 1.93%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.79 billion. On average, equities analysts predict that Genworth Financial, Inc. will post 1.11 earnings per share for the current fiscal year.

Genworth Financial Company Profile

Genworth Financial, Inc is a U.S.-based insurance holding company headquartered in Richmond, Virginia. Its principal businesses are long-term care insurance and U.S. mortgage insurance, the latter conducted through its majority-owned subsidiary, Enact Holdings, Inc

Genworth’s long-term care business serves existing policyholders with coverage intended to help pay for care services. Through Enact, the company provides private mortgage insurance that helps lenders manage risk and can enable borrowers to obtain a mortgage with a smaller down payment.

Genworth became an independent public company in 2004 after being spun off from General Electric.