Genworth Financial, Inc. $GNW Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lowered its stake in shares of Genworth Financial, Inc. (NYSE:GNW) by 51.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,005 shares of the financial services provider’s stock after selling 62,797 shares during the period. Maryland State Retirement & Pension System’s holdings in Genworth Financial were worth $525,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GNW. Salomon & Ludwin LLC raised its stake in Genworth Financial by 1,731.8% in the 3rd quarter. Salomon & Ludwin LLC now owns 3,279 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 3,100 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Genworth Financial during the second quarter worth about $44,000. EverSource Wealth Advisors LLC raised its position in shares of Genworth Financial by 140.3% in the second quarter. EverSource Wealth Advisors LLC now owns 8,063 shares of the financial services provider’s stock valued at $63,000 after buying an additional 4,708 shares during the last quarter. Seven Mile Advisory acquired a new stake in Genworth Financial during the second quarter worth approximately $78,000. Finally, Haven Private LLC purchased a new stake in Genworth Financial in the 2nd quarter worth approximately $88,000. Hedge funds and other institutional investors own 81.85% of the company’s stock.

Genworth Financial Stock Up 0.5%

GNW opened at $8.27 on Friday. The firm has a 50 day moving average price of $8.77 and a 200 day moving average price of $8.52. Genworth Financial, Inc. has a 1 year low of $5.99 and a 1 year high of $9.28. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market cap of $3.30 billion, a PE ratio of 15.60 and a beta of 1.06.

Genworth Financial (NYSE:GNW) last released its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $0.04 EPS 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%.

Analyst Upgrades and Downgrades

GNW has been the topic of a number of recent analyst reports. Weiss Ratings lowered Genworth Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday. Wall Street Zen upgraded Genworth Financial from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Finally, Keefe, Bruyette & Woods raised their price target on Genworth Financial from $9.50 to $10.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Genworth Financial has an average rating of “Moderate Buy” and an average price target of $10.00.

About Genworth Financial

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.