State of New Jersey Common Pension Fund D Trims Holdings in Genworth Financial, Inc. $GNW

State of New Jersey Common Pension Fund D reduced its holdings in shares of Genworth Financial, Inc. (NYSE:GNW) by 5.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 279,442 shares of the financial services provider’s stock after selling 15,004 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Genworth Financial were worth $2,174,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Xponance Inc. lifted its stake in Genworth Financial by 4.8% during the first quarter. Xponance Inc. now owns 32,525 shares of the financial services provider’s stock worth $231,000 after purchasing an additional 1,493 shares during the last quarter. Ethic Inc. lifted its stake in Genworth Financial by 15.1% during the second quarter. Ethic Inc. now owns 14,045 shares of the financial services provider’s stock worth $110,000 after purchasing an additional 1,847 shares during the last quarter. GAMMA Investing LLC lifted its stake in Genworth Financial by 29.5% during the second quarter. GAMMA Investing LLC now owns 11,770 shares of the financial services provider’s stock worth $92,000 after purchasing an additional 2,679 shares during the last quarter. HighTower Advisors LLC lifted its stake in Genworth Financial by 20.0% during the first quarter. HighTower Advisors LLC now owns 21,111 shares of the financial services provider’s stock worth $150,000 after purchasing an additional 3,521 shares during the last quarter. Finally, CWM LLC increased its position in Genworth Financial by 113.6% in the second quarter. CWM LLC now owns 12,788 shares of the financial services provider’s stock worth $99,000 after buying an additional 6,800 shares during the period. 81.85% of the stock is currently owned by institutional investors.

Genworth Financial Trading Down 0.3%

Shares of GNW opened at $8.40 on Wednesday. The business’s 50-day moving average price is $8.69 and its 200 day moving average price is $7.82. The stock has a market capitalization of $3.45 billion, a P/E ratio of 18.66 and a beta of 0.99. Genworth Financial, Inc. has a 1-year low of $5.99 and a 1-year high of $9.15. 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 issued its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.11. The firm had revenue of $1.80 billion for the quarter. Genworth Financial had a return on equity of 1.91% and a net margin of 2.61%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Genworth Financial in a research report on Wednesday, October 8th. Wall Street Zen cut shares of Genworth Financial from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Genworth Financial from $9.50 to $10.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Genworth Financial has a consensus rating of “Moderate Buy” and an average target price of $10.00.

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.