Genworth Financial, Inc. $GNW Shares Sold by Freedom Investment Management Inc.

Freedom Investment Management Inc. decreased its position in Genworth Financial, Inc. (NYSE:GNW) by 3.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 38,953 shares of the financial services provider’s stock after selling 1,273 shares during the period. Freedom Investment Management Inc.’s holdings in Genworth Financial were worth $303,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Blueshift Asset Management LLC acquired a new stake in Genworth Financial in the first quarter valued at $71,000. Abel Hall LLC acquired a new stake in shares of Genworth Financial during the first quarter valued at $71,000. Strs Ohio acquired a new stake in shares of Genworth Financial during the first quarter valued at $82,000. GAMMA Investing LLC boosted its stake in shares of Genworth Financial by 29.5% during the second quarter. GAMMA Investing LLC now owns 11,770 shares of the financial services provider’s stock valued at $92,000 after acquiring an additional 2,679 shares during the last quarter. Finally, CWM LLC boosted its stake in shares of Genworth Financial by 113.6% during the second quarter. CWM LLC now owns 12,788 shares of the financial services provider’s stock valued at $99,000 after acquiring an additional 6,800 shares during the last quarter. Institutional investors and hedge funds own 81.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on GNW. Keefe, Bruyette & Woods increased their price objective on Genworth Financial from $9.50 to $10.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Genworth Financial in a research note on Saturday. Finally, Wall Street Zen lowered Genworth Financial from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $10.00.

Genworth Financial Stock Performance

NYSE GNW opened at $8.56 on Monday. The business’s 50-day moving average price is $8.69 and its 200 day moving average price is $7.80. Genworth Financial, Inc. has a twelve month low of $5.99 and a twelve month high of $9.15. The company has a market capitalization of $3.51 billion, a PE ratio of 19.01 and a beta of 0.99. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.16.

Genworth Financial (NYSE:GNW) last released its 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 for the quarter.

Insider Activity at Genworth Financial

In other news, CEO Rohit Gupta sold 86,406 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $8.68, for a total value of $750,004.08. Following the transaction, the chief executive officer directly owned 794,630 shares in the company, valued at $6,897,388.40. This trade represents a 9.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.80% of the stock is currently owned by company insiders.

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.