Cubist Systematic Strategies LLC Purchases 639,676 Shares of Genworth Financial, Inc. $GNW

Cubist Systematic Strategies LLC lifted its position in shares of Genworth Financial, Inc. (NYSE:GNW) by 56.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,765,607 shares of the financial services provider’s stock after purchasing an additional 639,676 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.43% of Genworth Financial worth $12,518,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in GNW. Nuveen LLC purchased a new position in Genworth Financial during the first quarter valued at $24,661,000. Boone Capital Management LLC purchased a new position in Genworth Financial during the fourth quarter valued at $10,741,000. Nuveen Asset Management LLC raised its stake in Genworth Financial by 106.9% during the fourth quarter. Nuveen Asset Management LLC now owns 2,663,077 shares of the financial services provider’s stock valued at $18,615,000 after buying an additional 1,375,637 shares during the last quarter. Donald Smith & CO. Inc. raised its stake in Genworth Financial by 4.5% during the first quarter. Donald Smith & CO. Inc. now owns 27,114,581 shares of the financial services provider’s stock valued at $192,242,000 after buying an additional 1,165,112 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Genworth Financial by 18.1% during the fourth quarter. Northern Trust Corp now owns 6,025,178 shares of the financial services provider’s stock valued at $42,116,000 after buying an additional 922,126 shares during the last quarter. 81.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Genworth Financial

In other news, CEO Rohit Gupta sold 86,406 shares of the business’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $8.68, for a total value of $750,004.08. Following the completion of the transaction, the chief executive officer owned 794,630 shares in the company, valued at $6,897,388.40. The trade was a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.80% of the stock is owned by corporate insiders.

Genworth Financial Stock Down 0.1%

GNW stock opened at $8.58 on Monday. Genworth Financial, Inc. has a 1-year low of $5.99 and a 1-year high of $8.74. The business has a fifty day moving average price of $7.97 and a 200-day moving average price of $7.26. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.29 and a quick ratio of 0.29. The stock has a market capitalization of $3.52 billion, a P/E ratio of 19.06 and a beta of 0.94.

Genworth Financial (NYSE:GNW) last posted its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.11. Genworth Financial had a return on equity of 1.91% and a net margin of 2.61%.The firm had revenue of $1.80 billion during the quarter.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Wall Street Zen upgraded Genworth Financial from a “sell” rating to a “hold” rating in a research note on Saturday. Keefe, Bruyette & Woods lifted their price objective on Genworth Financial from $9.00 to $9.50 and gave the company an “outperform” rating in a research note on Wednesday, July 9th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $9.50.

Genworth Financial Profile

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.