Goldman Sachs Group Inc. Trims Stake in Genworth Financial Inc (NYSE:GNW)

Goldman Sachs Group Inc. reduced its holdings in shares of Genworth Financial Inc (NYSE:GNW) by 18.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,541,550 shares of the financial services provider’s stock after selling 816,671 shares during the period. Goldman Sachs Group Inc. owned about 0.60% of Genworth Financial worth $8,181,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in GNW. Grantham Mayo Van Otterloo & Co. LLC increased its holdings in Genworth Financial by 341.5% during the first quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,543,504 shares of the financial services provider’s stock valued at $15,084,000 after buying an additional 3,514,504 shares during the last quarter. Maso Capital Partners Ltd boosted its position in shares of Genworth Financial by 80.7% in the first quarter. Maso Capital Partners Ltd now owns 6,495,814 shares of the financial services provider’s stock worth $21,566,000 after purchasing an additional 2,900,511 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Genworth Financial by 67.0% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 5,685,538 shares of the financial services provider’s stock worth $13,134,000 after purchasing an additional 2,281,217 shares during the period. Nut Tree Capital Management LP bought a new position in shares of Genworth Financial in the first quarter worth approximately $6,640,000. Finally, Shah Capital Management boosted its position in shares of Genworth Financial by 27.6% in the second quarter. Shah Capital Management now owns 8,481,117 shares of the financial services provider’s stock worth $19,582,000 after purchasing an additional 1,832,924 shares during the period. 69.02% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:GNW opened at $3.53 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.26 and a current ratio of 0.26. The firm has a fifty day moving average price of $2.72 and a 200 day moving average price of $3.06. Genworth Financial Inc has a fifty-two week low of $1.87 and a fifty-two week high of $4.93. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of -3.60 and a beta of 1.28.

Genworth Financial (NYSE:GNW) last issued its earnings results on Wednesday, July 29th. The financial services provider reported ($0.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.06). Genworth Financial had a positive return on equity of 1.05% and a negative net margin of 6.30%. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the prior year, the company posted $0.35 EPS. Genworth Financial’s revenue was down 3.0% compared to the same quarter last year.

GNW has been the subject of a number of recent analyst reports. BTIG Research reiterated a “hold” rating on shares of Genworth Financial in a research report on Thursday, July 30th. ValuEngine lowered shares of Genworth Financial from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 1st.

Genworth Financial Profile

Genworth Financial, Inc provides insurance and homeownership solutions in the United States and internationally. It operates through five segments: U.S. Mortgage Insurance, Canada Mortgage Insurance, Australia Mortgage Insurance, U.S. Life Insurance, and Runoff. The U.S. Mortgage Insurance segment offers mortgage insurance products primarily insuring prime-based, individually underwritten residential mortgage loans.

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Institutional Ownership by Quarter for Genworth Financial (NYSE:GNW)

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