JPMorgan Chase & Co. Decreases Stake in Genworth Financial, Inc. $GNW

JPMorgan Chase & Co. cut its stake in shares of Genworth Financial, Inc. (NYSE:GNW) by 16.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,695,706 shares of the financial services provider’s stock after selling 330,085 shares during the quarter. JPMorgan Chase & Co.’s holdings in Genworth Financial were worth $13,193,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Voya Investment Management LLC lifted its position in shares of Genworth Financial by 5.8% during the 1st quarter. Voya Investment Management LLC now owns 874,022 shares of the financial services provider’s stock worth $6,197,000 after purchasing an additional 47,832 shares during the last quarter. Caxton Associates LLP acquired a new stake in Genworth Financial in the first quarter valued at $3,990,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Genworth Financial by 117.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 46,976 shares of the financial services provider’s stock worth $375,000 after buying an additional 25,341 shares during the last quarter. Intech Investment Management LLC boosted its position in shares of Genworth Financial by 7.6% during the 1st quarter. Intech Investment Management LLC now owns 427,993 shares of the financial services provider’s stock worth $3,034,000 after acquiring an additional 30,260 shares in the last quarter. Finally, Clare Market Investments LLC acquired a new position in shares of Genworth Financial during the 2nd quarter worth about $521,000. 81.85% of the stock is currently owned by hedge funds and other institutional investors.

Genworth Financial Trading Down 0.2%

NYSE:GNW opened at $8.67 on Monday. The company has a market capitalization of $3.46 billion, a PE ratio of 16.35 and a beta of 1.02. Genworth Financial, Inc. has a 52-week low of $5.99 and a 52-week high of $9.15. The stock’s 50 day moving average price is $8.61 and its 200 day moving average price is $8.16. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.15.

Genworth Financial (NYSE:GNW) last posted its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02). The firm had revenue of $1.04 billion during the quarter. Genworth Financial had a net margin of 3.01% and a return on equity of 1.56%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on GNW shares. Keefe, Bruyette & Woods raised their target price on Genworth Financial from $9.50 to $10.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Wall Street Zen raised shares of Genworth Financial from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Genworth Financial in a research report on Monday, December 1st. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, Genworth Financial has a consensus rating of “Buy” and an average target price of $10.00.

Genworth Financial Company 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.