Bessemer Group Inc. Purchases 209,662 Shares of Genworth Financial, Inc. $GNW

Bessemer Group Inc. grew its position in Genworth Financial, Inc. (NYSE:GNW) by 32.4% in the 1st quarter, Holdings Channel reports. The institutional investor owned 856,816 shares of the financial services provider’s stock after purchasing an additional 209,662 shares during the quarter. Bessemer Group Inc.’s holdings in Genworth Financial were worth $6,958,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Genworth Financial during the fourth quarter valued at approximately $45,912,000. Gendell Jeffrey L increased its position in shares of Genworth Financial by 168.0% during the fourth quarter. Gendell Jeffrey L now owns 6,485,888 shares of the financial services provider’s stock valued at $58,568,000 after acquiring an additional 4,065,684 shares in the last quarter. UBS Group AG raised its holdings in Genworth Financial by 621.2% in the 4th quarter. UBS Group AG now owns 3,598,588 shares of the financial services provider’s stock worth $32,495,000 after acquiring an additional 3,099,582 shares during the last quarter. Invesco Ltd. raised its holdings in Genworth Financial by 41.0% in the 2nd quarter. Invesco Ltd. now owns 4,291,220 shares of the financial services provider’s stock worth $33,386,000 after acquiring an additional 1,248,374 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in Genworth Financial by 173.7% in the 1st quarter. SG Americas Securities LLC now owns 1,188,288 shares of the financial services provider’s stock valued at $9,649,000 after acquiring an additional 754,105 shares in the last quarter. Institutional investors own 81.85% of the company’s stock.

Insiders Place Their Bets

In other news, Director Robert P. Restrepo, Jr. sold 50,000 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $9.12, for a total transaction of $456,000.00. Following the transaction, the director directly owned 92,655 shares of the company’s stock, valued at $845,013.60. This represents a 35.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas J. Mcinerney sold 100,000 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was 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 trade represents a 1.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.80% of the stock is currently owned by insiders.

Genworth Financial Stock Down 0.0%

GNW opened at $10.09 on Monday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average price of $9.14 and a 200-day moving average price of $8.78. Genworth Financial, Inc. has a twelve month low of $7.32 and a twelve month high of $10.15. The stock has a market capitalization of $3.86 billion, a price-to-earnings ratio of 19.40 and a beta of 0.85.

Genworth Financial (NYSE:GNW) last issued its earnings results on Tuesday, May 5th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.72 billion. Equities research analysts forecast that Genworth Financial, Inc. will post 1.1 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on GNW. Zacks Research upgraded Genworth Financial to a “hold” rating in a research note on Wednesday, May 27th. Weiss Ratings cut Genworth Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Keefe, Bruyette & Woods upped their price target on Genworth Financial from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Finally, Wall Street Zen raised Genworth Financial from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $12.00.

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.