Genworth Financial, Inc. $GNW Shares Acquired by Alta Fundamental Advisers LLC

Alta Fundamental Advisers LLC lifted its position in Genworth Financial, Inc. (NYSE:GNW) by 36.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,220,609 shares of the financial services provider’s stock after purchasing an additional 325,000 shares during the period. Genworth Financial makes up about 5.0% of Alta Fundamental Advisers LLC’s holdings, making the stock its 7th largest holding. Alta Fundamental Advisers LLC’s holdings in Genworth Financial were worth $11,022,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its stake in Genworth Financial by 1.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 26,493,475 shares of the financial services provider’s stock valued at $235,793,000 after purchasing an additional 270,062 shares during the last quarter. American Century Companies Inc. raised its stake in Genworth Financial by 7.9% during the 3rd quarter. American Century Companies Inc. now owns 9,567,534 shares of the financial services provider’s stock valued at $85,151,000 after purchasing an additional 704,498 shares during the last quarter. Norges Bank acquired a new position in Genworth Financial during the 4th quarter valued at $45,912,000. Invesco Ltd. raised its stake in 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 purchasing an additional 1,248,374 shares during the last quarter. Finally, UBS Group AG raised its stake in 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 purchasing an additional 3,099,582 shares during the last quarter. 81.85% of the stock is currently owned by institutional investors and hedge funds.

Genworth Financial Trading Up 1.6%

Shares of GNW stock opened at $8.48 on Friday. Genworth Financial, Inc. has a 52-week low of $6.72 and a 52-week high of $9.45. The stock has a market cap of $3.25 billion, a price-to-earnings ratio of 16.32 and a beta of 0.86. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a fifty day moving average of $8.76 and a 200-day moving average of $8.68.

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, beating analysts’ consensus estimates of $0.18 by $0.10. Genworth Financial had a net margin of 2.96% and a return on equity of 1.73%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.72 billion. On average, equities research analysts forecast that Genworth Financial, Inc. will post 0.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Thomas J. Mcinerney sold 100,000 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $9.27, for a total value of $927,000.00. Following the completion of the transaction, the chief executive officer owned 5,368,883 shares in the company, valued at approximately $49,769,545.41. This represents a 1.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert P. Restrepo, Jr. sold 50,000 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $9.12, for a total transaction of $456,000.00. Following the completion of the transaction, the director owned 92,655 shares of the company’s stock, valued at approximately $845,013.60. This represents a 35.05% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on GNW. Keefe, Bruyette & Woods upped their target price on shares of Genworth Financial from $10.50 to $11.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Zacks Research upgraded shares of Genworth Financial to a “hold” rating in a research note on Wednesday, May 27th. Weiss Ratings cut shares of Genworth Financial from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday. Finally, Wall Street Zen cut shares of Genworth Financial from a “hold” rating to a “sell” rating in a research note on Sunday, May 17th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Genworth Financial has a consensus rating of “Hold” and a consensus price target of $11.00.

About Genworth Financial

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.