Allianz Asset Management GmbH Has $8.98 Million Stake in Genworth Financial, Inc. $GNW

Allianz Asset Management GmbH reduced its stake in shares of Genworth Financial, Inc. (NYSE:GNW) by 34.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,008,826 shares of the financial services provider’s stock after selling 533,175 shares during the quarter. Allianz Asset Management GmbH’s holdings in Genworth Financial were worth $8,979,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Genworth Financial in the 2nd quarter worth approximately $26,992,000. Invesco Ltd. grew its stake 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 valued at $33,386,000 after purchasing an additional 1,248,374 shares in the last quarter. American Century Companies Inc. increased its position in Genworth Financial by 10.0% in the 2nd quarter. American Century Companies Inc. now owns 8,863,036 shares of the financial services provider’s stock worth $68,954,000 after purchasing an additional 806,502 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Genworth Financial by 28.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,523,537 shares of the financial services provider’s stock worth $27,413,000 after purchasing an additional 774,010 shares in the last quarter. Finally, Hudson Bay Capital Management LP acquired a new stake in shares of Genworth Financial during the 2nd quarter valued at about $5,616,000. Institutional investors and hedge funds own 81.85% of the company’s stock.

Genworth Financial Price Performance

NYSE GNW opened at $9.02 on Monday. Genworth Financial, Inc. has a 1 year low of $5.99 and a 1 year high of $9.28. The company has a fifty day simple moving average of $8.75 and a 200 day simple moving average of $8.61. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.15. The company has a market cap of $3.60 billion, a P/E ratio of 17.02 and a beta of 1.01.

Wall Street Analyst Weigh In

GNW has been the topic of a number of research reports. Wall Street Zen upgraded Genworth Financial from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Weiss Ratings downgraded shares of Genworth Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, January 20th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Genworth Financial currently has a consensus rating of “Moderate Buy” and an average price target of $10.00.

Genworth Financial Company 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.