Assenagon Asset Management S.A. Purchases 2,456,816 Shares of Genworth Financial, Inc. (NYSE:GNW)

Assenagon Asset Management S.A. lifted its position in shares of Genworth Financial, Inc. (NYSE:GNW) by 138.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,233,541 shares of the financial services provider’s stock after purchasing an additional 2,456,816 shares during the quarter. Assenagon Asset Management S.A. owned 0.97% of Genworth Financial worth $25,571,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GNW. Nisa Investment Advisors LLC boosted its position in shares of Genworth Financial by 10.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 21,640 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 2,000 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in Genworth Financial in the 4th quarter valued at $1,508,000. Strs Ohio lifted its position in Genworth Financial by 25.8% in the 4th quarter. Strs Ohio now owns 19,000 shares of the financial services provider’s stock valued at $126,000 after acquiring an additional 3,900 shares in the last quarter. Daiwa Securities Group Inc. bought a new stake in Genworth Financial in the 4th quarter valued at $33,000. Finally, Federated Hermes Inc. lifted its position in Genworth Financial by 6.2% in the 4th quarter. Federated Hermes Inc. now owns 1,023,112 shares of the financial services provider’s stock valued at $6,834,000 after acquiring an additional 59,392 shares in the last quarter. 81.85% of the stock is owned by institutional investors.

Genworth Financial Stock Up 0.9 %

NYSE:GNW traded up $0.06 on Friday, hitting $6.70. 2,453,712 shares of the company’s stock were exchanged, compared to its average volume of 2,847,874. The firm has a 50-day moving average price of $6.29 and a 200-day moving average price of $6.26. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.29 and a quick ratio of 0.29. Genworth Financial, Inc. has a 52 week low of $5.32 and a 52 week high of $6.94. The company has a market cap of $2.93 billion, a P/E ratio of 35.26 and a beta of 0.92.

Genworth Financial (NYSE:GNW) last released its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.09. The company had revenue of $1.77 billion for the quarter. Genworth Financial had a net margin of 0.43% and a return on equity of 0.25%. During the same quarter in the prior year, the firm earned $0.29 earnings per share.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Genworth Financial from a “buy” rating to a “hold” rating in a research report on Tuesday.

Insider Activity at Genworth Financial

In related news, CEO Thomas J. Mcinerney sold 200,000 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $6.27, for a total value 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.80% of the stock is owned by company insiders.

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.