Thrivent Financial for Lutherans Sells 27,883 Shares of Genworth Financial, Inc. (NYSE:GNW)

Thrivent Financial for Lutherans reduced its stake in Genworth Financial, Inc. (NYSE:GNW) by 7.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 363,373 shares of the financial services provider’s stock after selling 27,883 shares during the period. Thrivent Financial for Lutherans’ holdings in Genworth Financial were worth $2,195,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Headlands Technologies LLC acquired a new stake in Genworth Financial in the 1st quarter valued at $25,000. SageView Advisory Group LLC bought a new position in shares of Genworth Financial during the first quarter valued at $30,000. Empowered Funds LLC acquired a new stake in shares of Genworth Financial in the 1st quarter valued at $67,000. Heritage Wealth Advisors bought a new stake in shares of Genworth Financial in the 1st quarter worth about $74,000. Finally, RMR Wealth Builders increased its position in shares of Genworth Financial by 20.2% during the 2nd quarter. RMR Wealth Builders now owns 12,620 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 2,120 shares in the last quarter. 81.85% of the stock is owned by institutional investors and hedge funds.

Genworth Financial Stock Down 0.9 %

NYSE GNW opened at $6.79 on Wednesday. The stock’s 50 day simple moving average is $6.70 and its 200 day simple moving average is $6.40. Genworth Financial, Inc. has a one year low of $5.32 and a one year high of $7.01. The firm has a market cap of $2.97 billion, a PE ratio of 35.79 and a beta of 0.94. 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 (NYSE:GNW) last announced its earnings results on Wednesday, July 31st. The financial services provider reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.09. Genworth Financial had a return on equity of 0.25% and a net margin of 0.43%. The company had revenue of $1.77 billion during the quarter. During the same quarter last year, the business posted $0.29 earnings per share.

Insider Buying and Selling at Genworth Financial

In other news, CEO Thomas J. Mcinerney sold 150,000 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $6.88, for a total transaction of $1,032,000.00. Following the sale, the chief executive officer now directly owns 4,532,954 shares of the company’s stock, valued at $31,186,723.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Genworth Financial from a “buy” rating to a “hold” rating in a research report on Friday, September 6th.

About Genworth Financial

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.