Northwestern Mutual Wealth Management Co. Grows Stock Holdings in Genworth Financial, Inc. $GNW

Northwestern Mutual Wealth Management Co. grew its holdings in Genworth Financial, Inc. (NYSE:GNW) by 925.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 207,821 shares of the financial services provider’s stock after acquiring an additional 187,560 shares during the period. Northwestern Mutual Wealth Management Co. owned about 0.05% of Genworth Financial worth $1,877,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in GNW. Bessemer Group Inc. boosted its holdings in shares of Genworth Financial by 60.6% in the 3rd quarter. Bessemer Group Inc. now owns 3,830 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 1,445 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Genworth Financial in the 2nd quarter valued at $44,000. Larson Financial Group LLC boosted its holdings in shares of Genworth Financial by 12,597.7% in the 3rd quarter. Larson Financial Group LLC now owns 5,587 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 5,543 shares during the last quarter. Danske Bank A S purchased a new stake in shares of Genworth Financial in the 3rd quarter valued at $60,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Genworth Financial by 140.3% during the second quarter. EverSource Wealth Advisors LLC now owns 8,063 shares of the financial services provider’s stock worth $63,000 after buying an additional 4,708 shares in the last quarter. 81.85% of the stock is owned by hedge funds and other institutional investors.

Genworth Financial Stock Performance

NYSE:GNW opened at $8.85 on Thursday. The company’s 50-day moving average price is $8.70 and its 200-day moving average price is $8.68. 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 $3.39 billion, a P/E ratio of 17.03 and a beta of 0.89. Genworth Financial, Inc. has a twelve month low of $6.72 and a twelve month high of $9.45.

Genworth Financial (NYSE:GNW) last posted its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.10. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.72 billion. Genworth Financial had a net margin of 2.96% and a return on equity of 1.73%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on GNW shares. Wall Street Zen downgraded shares of Genworth Financial from a “hold” rating to a “sell” rating in a report on Sunday, May 17th. Keefe, Bruyette & Woods increased their price target on shares of Genworth Financial from $10.50 to $11.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Finally, Weiss Ratings raised shares of Genworth Financial from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Genworth Financial currently has an average rating of “Moderate Buy” and a consensus price target of $11.00.

Insider Activity

In other news, CEO Thomas J. Mcinerney sold 100,000 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $9.27, for a total value 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 trade represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert P. Restrepo, Jr. sold 50,000 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $9.12, for a total transaction of $456,000.00. Following the completion of the transaction, the director directly owned 92,655 shares in the company, valued at approximately $845,013.60. This represents a 35.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.80% of the company’s stock.

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.