Covestor Ltd Has $117,000 Stake in Genworth Financial, Inc. (NYSE:GNW)

Covestor Ltd lifted its position in Genworth Financial, Inc. (NYSE:GNW) by 11.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,131 shares of the financial services provider’s stock after purchasing an additional 1,868 shares during the quarter. Covestor Ltd’s holdings in Genworth Financial were worth $117,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in shares of Genworth Financial by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 30,294,780 shares of the financial services provider’s stock valued at $202,371,000 after purchasing an additional 534,650 shares in the last quarter. Donald Smith & CO. Inc. raised its stake in Genworth Financial by 14.5% during the first quarter. Donald Smith & CO. Inc. now owns 24,244,607 shares of the financial services provider’s stock worth $155,893,000 after acquiring an additional 3,069,355 shares in the last quarter. LSV Asset Management raised its stake in Genworth Financial by 15.9% during the fourth quarter. LSV Asset Management now owns 5,821,232 shares of the financial services provider’s stock worth $38,886,000 after acquiring an additional 797,278 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Genworth Financial by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,031,450 shares of the financial services provider’s stock worth $33,610,000 after acquiring an additional 114,372 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Genworth Financial in the fourth quarter valued at $23,292,000. 81.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Thomas J. Mcinerney sold 200,000 shares of Genworth Financial stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $6.27, for a total transaction of $1,254,000.00. Following the transaction, the chief executive officer now owns 4,361,980 shares in the company, valued at approximately $27,349,614.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods raised their target price on Genworth Financial from $6.50 to $7.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th.

Genworth Financial Price Performance

Shares of NYSE:GNW traded up $0.07 during midday trading on Tuesday, reaching $6.69. The company’s stock had a trading volume of 713,690 shares, compared to its average volume of 2,792,328. Genworth Financial, Inc. has a fifty-two week low of $5.32 and a fifty-two week high of $6.93. The company has a market capitalization of $2.93 billion, a P/E ratio of 34.84 and a beta of 0.92. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.29 and a quick ratio of 0.29. The business’s fifty day simple moving average is $6.22 and its 200-day simple moving average is $6.23.

Genworth Financial (NYSE:GNW) last posted its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $0.19 earnings per share (EPS) for the quarter. Genworth Financial had a negative return on equity of 0.21% and a net margin of 1.24%. The business had revenue of $1.86 billion for the quarter.

Genworth Financial 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.