Connor Clark & Lunn Investment Management Ltd. Sells 153,464 Shares of Genworth Financial, Inc. $GNW

Connor Clark & Lunn Investment Management Ltd. trimmed its position in Genworth Financial, Inc. (NYSE:GNW) by 15.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 810,270 shares of the financial services provider’s stock after selling 153,464 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Genworth Financial were worth $6,304,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Abel Hall LLC bought a new stake in Genworth Financial during the first quarter valued at about $71,000. Blueshift Asset Management LLC purchased a new position in shares of Genworth Financial during the 1st quarter valued at about $71,000. Strs Ohio bought a new position in shares of Genworth Financial during the 1st quarter valued at approximately $82,000. Haven Private LLC bought a new position in shares of Genworth Financial during the 2nd quarter valued at approximately $88,000. Finally, GAMMA Investing LLC increased its holdings in Genworth Financial by 29.5% in the 2nd quarter. GAMMA Investing LLC now owns 11,770 shares of the financial services provider’s stock worth $92,000 after acquiring an additional 2,679 shares in the last quarter. Hedge funds and other institutional investors own 81.85% of the company’s stock.

Genworth Financial Price Performance

NYSE:GNW opened at $8.50 on Thursday. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of 16.03 and a beta of 1.05. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.29 and a quick ratio of 0.29. The business has a 50 day simple moving average of $8.68 and a 200-day simple moving average of $7.97. Genworth Financial, Inc. has a 1 year low of $5.99 and a 1 year high of $9.15.

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 analysts’ consensus estimates of $0.06 by ($0.02). Genworth Financial had a return on equity of 1.56% and a net margin of 3.01%.The firm had revenue of $1.04 billion during the quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Wall Street Zen lowered shares of Genworth Financial from a “hold” rating to a “sell” rating in a research report on Saturday, October 11th. Weiss Ratings raised shares of Genworth Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Finally, Keefe, Bruyette & Woods raised their price target on Genworth Financial from $9.50 to $10.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $10.00.

Insider Buying and Selling at Genworth Financial

In other Genworth Financial news, CEO Rohit Gupta sold 86,406 shares of Genworth Financial stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $8.68, for a total transaction of $750,004.08. Following the completion of the sale, the chief executive officer directly 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.80% of the company’s stock.

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.