Genworth Financial, Inc. $GNW Shares Purchased by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. increased its position in shares of Genworth Financial, Inc. (NYSE:GNW) by 925.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 207,821 shares of the financial services provider’s stock after acquiring an additional 187,560 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Genworth Financial were worth $1,877,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bailard Inc. acquired a new stake in Genworth Financial during the fourth quarter worth about $265,000. Drive Wealth Management LLC increased its position in Genworth Financial by 31.0% during the fourth quarter. Drive Wealth Management LLC now owns 28,439 shares of the financial services provider’s stock worth $257,000 after purchasing an additional 6,733 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in Genworth Financial by 82.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 22,720 shares of the financial services provider’s stock worth $205,000 after purchasing an additional 10,287 shares during the last quarter. Truist Financial Corp increased 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 worth $130,000 after purchasing an additional 1,257 shares during the last quarter. Finally, Horizon Investments LLC increased its position in Genworth Financial by 5.3% during the fourth quarter. Horizon Investments LLC now owns 215,885 shares of the financial services provider’s stock worth $1,949,000 after purchasing an additional 10,913 shares during the last quarter. 81.85% of the stock is currently owned by institutional investors and hedge funds.

Genworth Financial Price Performance

Shares of GNW opened at $8.85 on Thursday. Genworth Financial, Inc. has a 1-year low of $6.72 and a 1-year high of $9.45. The stock has a market cap of $3.39 billion, a PE ratio of 17.03 and a beta of 0.89. The firm has a 50-day simple moving average of $8.70 and a two-hundred day simple moving average of $8.68. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.29 and a quick ratio of 0.29.

Genworth Financial (NYSE:GNW) last announced its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.10. Genworth Financial had a net margin of 2.96% and a return on equity of 1.73%. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.72 billion.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wall Street Zen cut shares of Genworth Financial from a “hold” rating to a “sell” rating in a research report on Sunday, May 17th. Keefe, Bruyette & Woods raised their price objective on shares of Genworth Financial from $10.50 to $11.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Finally, Weiss Ratings upgraded shares of Genworth Financial from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

Insider Transactions at Genworth Financial

In related news, Director Robert P. Restrepo, Jr. sold 50,000 shares of Genworth Financial stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $9.12, for a total value of $456,000.00. Following the completion of the transaction, the director owned 92,655 shares in the company, valued at approximately $845,013.60. The trade was a 35.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Thomas J. Mcinerney sold 100,000 shares of Genworth Financial stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $9.27, for a total transaction of $927,000.00. Following the completion of the transaction, the chief executive officer owned 5,368,883 shares of the company’s stock, valued at $49,769,545.41. This trade represents a 1.83% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.80% of the stock is owned by company insiders.

Genworth Financial Company 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.