River Road Asset Management LLC Sells 162,278 Shares of Genworth Financial, Inc. $GNW

River Road Asset Management LLC reduced its stake in shares of Genworth Financial, Inc. (NYSE:GNW) by 1.0% during the fourth quarter, Holdings Channel reports. The firm owned 16,396,056 shares of the financial services provider’s stock after selling 162,278 shares during the quarter. Genworth Financial makes up approximately 1.6% of River Road Asset Management LLC’s portfolio, making the stock its 12th biggest position. River Road Asset Management LLC’s holdings in Genworth Financial were worth $148,056,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GNW. Royal Bank of Canada boosted its stake in shares of Genworth Financial by 75.8% during the 1st quarter. Royal Bank of Canada now owns 118,058 shares of the financial services provider’s stock valued at $837,000 after purchasing an additional 50,911 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Genworth Financial by 2.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 252,152 shares of the financial services provider’s stock worth $1,788,000 after buying an additional 7,106 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Genworth Financial by 4.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,184,144 shares of the financial services provider’s stock worth $8,396,000 after buying an additional 55,071 shares in the last quarter. Strs Ohio purchased a new stake in Genworth Financial in the first quarter worth about $82,000. Finally, Invesco Ltd. lifted its holdings in Genworth Financial by 41.0% in the second quarter. Invesco Ltd. now owns 4,291,220 shares of the financial services provider’s stock worth $33,386,000 after buying an additional 1,248,374 shares during the period. 81.85% of the stock is currently owned by institutional investors.

Genworth Financial Trading Down 0.2%

Shares of NYSE GNW opened at $8.96 on Friday. Genworth Financial, Inc. has a 1 year low of $7.13 and a 1 year high of $9.45. The stock has a market cap of $3.43 billion, a P/E ratio of 17.22 and a beta of 0.86. The firm has a 50-day moving average of $8.87 and a 200 day moving average of $8.70. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.29 and a quick ratio of 0.29.

Genworth Financial (NYSE:GNW) last announced its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.10. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Genworth Financial had a net margin of 2.96% and a return on equity of 1.73%. As a group, sell-side analysts expect that Genworth Financial, Inc. will post 0.44 EPS for the current fiscal year.

Insider Activity at Genworth Financial

In related news, Director Robert P. Restrepo, Jr. sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $9.12, for a total value of $456,000.00. Following the sale, the director owned 92,655 shares in the company, valued at $845,013.60. This represents a 35.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Thomas J. Mcinerney sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $9.27, for a total value of $927,000.00. Following the completion of the sale, the chief executive officer owned 5,368,883 shares in the company, valued at $49,769,545.41. The trade was a 1.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Keefe, Bruyette & Woods lifted their price objective on Genworth Financial from $10.50 to $11.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Wall Street Zen cut Genworth Financial from a “hold” rating to a “sell” rating in a research note on Sunday, May 17th. Weiss Ratings upgraded Genworth Financial from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday. Finally, Zacks Research raised Genworth Financial to a “hold” rating in a research note on Wednesday, May 27th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Genworth Financial has an average rating of “Hold” and a consensus price target of $11.00.

Genworth Financial Profile

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.