Arizona State Retirement System Trims Position in Genworth Financial, Inc. (NYSE:GNW)

Arizona State Retirement System decreased its position in shares of Genworth Financial, Inc. (NYSE:GNW) by 4.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 129,453 shares of the financial services provider’s stock after selling 6,637 shares during the quarter. Arizona State Retirement System’s holdings in Genworth Financial were worth $865,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GNW. Envestnet Asset Management Inc. lifted its stake in shares of Genworth Financial by 60.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 62,634 shares of the financial services provider’s stock valued at $237,000 after buying an additional 23,663 shares in the last quarter. Private Advisor Group LLC purchased a new position in shares of Genworth Financial during the 1st quarter valued at $40,000. Citigroup Inc. lifted its stake in shares of Genworth Financial by 5.3% during the 1st quarter. Citigroup Inc. now owns 589,415 shares of the financial services provider’s stock valued at $2,228,000 after buying an additional 29,834 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Genworth Financial by 58.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 78,974 shares of the financial services provider’s stock valued at $299,000 after buying an additional 29,046 shares in the last quarter. Finally, Natixis Advisors L.P. purchased a new position in shares of Genworth Financial during the 1st quarter valued at $265,000. Hedge funds and other institutional investors own 81.85% of the company’s stock.

Genworth Financial Stock Performance

Shares of NYSE GNW opened at $5.82 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market cap of $2.56 billion, a P/E ratio of -581,500.00 and a beta of 1.06. The firm’s fifty day moving average is $6.21 and its two-hundred day moving average is $6.17. Genworth Financial, Inc. has a 52-week low of $4.51 and a 52-week high of $6.93.

Genworth Financial (NYSE:GNW) last announced its quarterly earnings results on Wednesday, February 21st. The financial services provider reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.70). The company had revenue of $1.91 billion during the quarter. Genworth Financial had a net margin of 0.21% and a negative return on equity of 0.23%. During the same quarter in the prior year, the company posted $0.35 EPS.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods lifted their target price on shares of Genworth Financial from $6.50 to $7.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th.

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.