River Road Asset Management LLC Trims Stock Position in Genworth Financial, Inc. $GNW
River Road Asset Management LLC reduced its stake in Genworth Financial by 2.3% in Q2, owning 4.07% of the company. Genworth's stock opened at $8.67, with a market cap of $3.46 billion. Analysts have set new price targets, with Keefe, Bruyette & Woods rating it "outperform" and raising the target price to $10.00. Genworth Financial provides mortgage and long-term care insurance products.
River Road Asset Management LLC decreased its position in Genworth Financial, Inc. (NYSE:GNW - Free Report) by 2.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,692,447 shares of the financial services provider's stock after selling 391,720 shares during the period. Genworth Financial accounts for about 1.7% of River Road Asset Management LLC's investment portfolio, making the stock its 12th biggest position. River Road Asset Management LLC owned approximately 4.07% of Genworth Financial worth $131,203,000 at the end of the most recent reporting period.
- Genworth Financial Stock is Retracing Fine
Other hedge funds have also made changes to their positions in the company. Nuveen LLC bought a new position in Genworth Financial during the 1st quarter worth about $24,661,000. Norges Bank purchased a new position in Genworth Financial during the second quarter valued at approximately $26,992,000. Donald Smith & CO. Inc. raised its stake in Genworth Financial by 4.5% in the first quarter. Donald Smith & CO. Inc. now owns 27,114,581 shares of the financial services provider's stock worth $192,242,000 after buying an additional 1,165,112 shares in the last quarter. American Century Companies Inc. lifted its holdings in Genworth Financial by 11.6% during the first quarter. American Century Companies Inc. now owns 8,056,534 shares of the financial services provider's stock worth $57,121,000 after buying an additional 836,192 shares during the period. Finally, Trexquant Investment LP lifted its stake in shares of Genworth Financial by 162.4% during the 1st quarter. Trexquant Investment LP now owns 1,330,661 shares of the financial services provider's stock worth $9,434,000 after purchasing an additional 823,470 shares during the last quarter. 81.85% of the stock is currently owned by hedge funds and other institutional investors.
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Genworth Financial Stock Performance
Shares of GNW opened at $8.67 on Monday. The stock has a market capitalization of $3.46 billion, a PE ratio of 16.36 and a beta of 1.02. The stock has a 50-day simple moving average of $8.65 and a 200-day simple moving average of $8.11. Genworth Financial, Inc. has a 1 year low of $5.99 and a 1 year high of $9.15. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.29 and a current ratio of 0.29.
- Forgotten Genworth Financial Stock is Ready to Unlock Value
Genworth Financial (NYSE:GNW - Get Free Report) last issued its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02). The company had revenue of $1.04 billion for the quarter. Genworth Financial had a return on equity of 1.56% and a net margin of 3.01%.
Analysts Set New Price Targets
Several brokerages recently issued reports on GNW. Keefe, Bruyette & Woods upped their target price on Genworth Financial from $9.50 to $10.00 and gave the company an "outperform" rating in a research report on Thursday, October 9th. Wall Street Zen raised Genworth Financial from a "sell" rating to a "hold" rating in a report on Saturday, November 15th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Genworth Financial in a report on Monday, November 24th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, Genworth Financial has an average rating of "Buy" and an average target price of $10.00.
Check Out Our Latest Research Report on GNW
About Genworth Financial
(Free Report)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.
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