SG Americas Securities LLC Acquires 754,105 Shares of Genworth Financial, Inc. $GNW

SG Americas Securities LLC increased its holdings in Genworth Financial, Inc. (NYSE:GNW) by 173.7% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 1,188,288 shares of the financial services provider’s stock after acquiring an additional 754,105 shares during the quarter. SG Americas Securities LLC’s holdings in Genworth Financial were worth $9,649,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in GNW. Norges Bank purchased a new stake in Genworth Financial during the fourth quarter valued at approximately $45,912,000. Gendell Jeffrey L boosted its stake in shares of Genworth Financial by 168.0% during the 4th quarter. Gendell Jeffrey L now owns 6,485,888 shares of the financial services provider’s stock worth $58,568,000 after acquiring an additional 4,065,684 shares during the last quarter. UBS Group AG grew its position in shares of Genworth Financial by 621.2% during the 4th quarter. UBS Group AG now owns 3,598,588 shares of the financial services provider’s stock valued at $32,495,000 after acquiring an additional 3,099,582 shares during the period. Invesco Ltd. grew its position in shares of Genworth Financial by 41.0% during the 2nd quarter. Invesco Ltd. now owns 4,291,220 shares of the financial services provider’s stock valued at $33,386,000 after acquiring an additional 1,248,374 shares during the period. Finally, Hudson Bay Capital Management LP purchased a new stake in shares of Genworth Financial in the 2nd quarter worth $5,616,000. 81.85% of the stock is currently owned by institutional investors.

Genworth Financial Price Performance

Shares of NYSE:GNW opened at $9.46 on Friday. The company has a market capitalization of $3.62 billion, a P/E ratio of 18.19 and a beta of 0.86. Genworth Financial, Inc. has a 1-year low of $7.13 and a 1-year high of $9.56. The firm’s 50 day simple moving average is $8.93 and its two-hundred day simple moving average is $8.72. 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.10. The firm had revenue of $1.04 billion during 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%. Research analysts expect that Genworth Financial, Inc. will post 0.44 EPS for the current fiscal year.

Insider Buying and Selling at Genworth Financial

In other Genworth Financial news, CEO Thomas J. Mcinerney sold 100,000 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $9.27, for a total transaction of $927,000.00. Following the sale, the chief executive officer directly owned 5,368,883 shares of the company’s stock, valued at $49,769,545.41. This trade represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert P. Restrepo, Jr. sold 50,000 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $9.12, for a total value of $456,000.00. Following the completion of the transaction, the director owned 92,655 shares in the company, valued at $845,013.60. The trade was a 35.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GNW. Keefe, Bruyette & Woods raised their target price on Genworth Financial from $10.50 to $11.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Wall Street Zen lowered Genworth Financial from a “hold” rating to a “sell” rating in a report on Sunday, May 17th. Zacks Research upgraded Genworth Financial to a “hold” rating in a research report on Wednesday, May 27th. Finally, Weiss Ratings raised Genworth Financial from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, June 16th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average 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.