Sumitomo Mitsui Trust Holdings Inc. raised its stake in Genworth Financial, Inc. (NYSE:GNW – Get Rating) by 144.0% during the first quarter, HoldingsChannel reports. The institutional investor owned 92,737 shares of the financial services provider’s stock after purchasing an additional 54,736 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Genworth Financial were worth $351,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Counterpoint Mutual Funds LLC acquired a new position in Genworth Financial in the fourth quarter valued at about $27,000. Byrne Asset Management LLC acquired a new position in Genworth Financial in the fourth quarter valued at about $38,000. Modera Wealth Management LLC acquired a new position in Genworth Financial in the fourth quarter valued at about $47,000. Advisor Partners LLC acquired a new position in Genworth Financial in the fourth quarter valued at about $69,000. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its position in Genworth Financial by 256.2% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 18,730 shares of the financial services provider’s stock valued at $76,000 after buying an additional 13,471 shares during the last quarter. Institutional investors and hedge funds own 70.67% of the company’s stock.
Analyst Upgrades and Downgrades
Separately, StockNews.com started coverage on shares of Genworth Financial in a research report on Thursday, March 31st. They set a “hold” rating on the stock.
Insider Activity at Genworth Financial
In related news, CEO Thomas J. Mcinerney sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $3.95, for a total value of $395,000.00. Following the sale, the chief executive officer now owns 3,939,625 shares of the company’s stock, valued at $15,561,518.75. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.99% of the stock is owned by corporate insiders.
Genworth Financial Stock Down 1.8 %
Shares of GNW opened at $3.93 on Friday. The stock has a market capitalization of $2.01 billion, a PE ratio of 2.33 and a beta of 0.90. Genworth Financial, Inc. has a 1 year low of $3.24 and a 1 year high of $4.61. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.27 and a current ratio of 0.27. The company’s 50-day simple moving average is $3.83 and its 200-day simple moving average is $3.91.
Genworth Financial (NYSE:GNW – Get Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The financial services provider reported $0.25 earnings per share (EPS) for the quarter. The business had revenue of $1.86 billion for the quarter. Genworth Financial had a net margin of 11.19% and a return on equity of 4.65%.
Genworth Financial Profile
Genworth Financial, Inc provides insurance products in the United States and internationally. The company operates in three segments: Enact, U.S. Life Insurance, and Runoff. The Enact segment offers mortgage insurance products primarily insuring prime-based, individually underwritten residential mortgage loans; and pool mortgage insurance products.
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