Navellier & Associates Inc. Cuts Stake in Genworth Financial, Inc. (NYSE:GNW)

Navellier & Associates Inc. lessened its position in shares of Genworth Financial, Inc. (NYSE:GNW) by 7.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,344 shares of the financial services provider’s stock after selling 2,128 shares during the quarter. Navellier & Associates Inc.’s holdings in Genworth Financial were worth $175,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. HighTower Advisors LLC lifted its stake in shares of Genworth Financial by 14.0% in the 4th quarter. HighTower Advisors LLC now owns 17,590 shares of the financial services provider’s stock valued at $123,000 after purchasing an additional 2,154 shares during the last quarter. Xponance Inc. increased its holdings in Genworth Financial by 9.5% during the 4th quarter. Xponance Inc. now owns 31,032 shares of the financial services provider’s stock worth $217,000 after purchasing an additional 2,693 shares during the period. Quantbot Technologies LP purchased a new position in Genworth Financial during the 4th quarter worth $248,000. KLP Kapitalforvaltning AS purchased a new position in shares of Genworth Financial in the 4th quarter valued at $628,000. Finally, LPL Financial LLC increased its holdings in shares of Genworth Financial by 44.0% in the 4th quarter. LPL Financial LLC now owns 33,163 shares of the financial services provider’s stock valued at $232,000 after acquiring an additional 10,135 shares during the period. Hedge funds and other institutional investors own 81.85% of the company’s stock.

Genworth Financial Price Performance

NYSE:GNW opened at $8.03 on Friday. Genworth Financial, Inc. has a 12 month low of $5.99 and a 12 month high of $8.08. The stock has a 50 day moving average of $7.34 and a two-hundred day moving average of $7.05. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.16. The firm has a market cap of $3.33 billion, a P/E ratio of 16.05 and a beta of 1.06.

Genworth Financial (NYSE:GNW) last posted its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.09). The company had revenue of $1.76 billion during the quarter. Genworth Financial had a net margin of 2.97% and a return on equity of 2.53%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Wall Street Zen downgraded Genworth Financial from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Keefe, Bruyette & Woods boosted their price objective on Genworth Financial from $9.00 to $9.50 and gave the company an “outperform” rating in a report on Wednesday, July 9th.

About Genworth Financial

Genworth Financial, Inc, together with its subsidiaries, provides mortgage and long-term care insurance products in the United States and internationally. It operates in three segments: Enact, Long-Term Care Insurance, and Life and Annuities. The Enact segment offers private mortgage insurance products primarily insuring prime-based, individually underwritten residential mortgage loans; and pool mortgage insurance products.