Louisiana State Employees Retirement System Purchases Shares of 177,100 Genworth Financial, Inc. $GNW

Louisiana State Employees Retirement System purchased a new stake in shares of Genworth Financial, Inc. (NYSE:GNW) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 177,100 shares of the financial services provider’s stock, valued at approximately $1,438,000.

A number of other hedge funds also recently modified their holdings of GNW. Dimensional Fund Advisors LP increased its holdings in Genworth Financial by 1.0% in the third 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 period. Nuveen LLC lifted its holdings in Genworth Financial by 2.3% during the 4th quarter. Nuveen LLC now owns 9,781,111 shares of the financial services provider’s stock worth $88,323,000 after buying an additional 223,279 shares during the period. Gendell Jeffrey L grew its position in shares of Genworth Financial by 168.0% in the 4th quarter. Gendell Jeffrey L now owns 6,485,888 shares of the financial services provider’s stock valued at $58,568,000 after buying an additional 4,065,684 shares during the last quarter. Norges Bank bought a new stake in shares of Genworth Financial in the 4th quarter valued at about $45,912,000. Finally, Invesco Ltd. increased its stake in shares of 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 buying an additional 1,248,374 shares during the period. Institutional investors and hedge funds own 81.85% of the company’s stock.

Insider Buying and Selling at Genworth Financial

In related news, CEO Thomas J. Mcinerney sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $9.27, for a total transaction of $927,000.00. Following the transaction, the chief executive officer directly owned 5,368,883 shares of the company’s stock, valued at approximately $49,769,545.41. This represents a 1.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert P. Restrepo, Jr. sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $9.12, for a total value of $456,000.00. Following the transaction, the director directly 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. Insiders own 1.80% of the company’s stock.

Genworth Financial Stock Performance

Shares of Genworth Financial stock opened at $9.61 on Friday. The business has a 50-day moving average price of $9.00 and a two-hundred day moving average price of $8.74. Genworth Financial, Inc. has a 1-year low of $7.13 and a 1-year high of $9.65. 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 $3.68 billion, a P/E ratio of 18.47 and a beta of 0.85.

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 return on equity of 1.73% and a net margin of 2.96%.The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.72 billion. As a group, analysts anticipate that Genworth Financial, Inc. will post 0.44 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on GNW shares. Keefe, Bruyette & Woods raised their price objective on Genworth Financial from $10.50 to $11.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Zacks Research upgraded Genworth Financial to a “hold” rating in a report on Wednesday, May 27th. Weiss Ratings raised shares of Genworth Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. Finally, Wall Street Zen lowered shares of Genworth Financial from a “hold” rating to a “sell” rating in a report on Sunday, May 17th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.