Allspring Global Investments Holdings LLC Trims Stock Position in Genworth Financial, Inc. (NYSE:GNW)

Allspring Global Investments Holdings LLC lessened its stake in shares of Genworth Financial, Inc. (NYSE:GNW) by 26.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 779,655 shares of the financial services provider’s stock after selling 286,920 shares during the period. Allspring Global Investments Holdings LLC owned about 0.17% of Genworth Financial worth $5,208,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. State of Wyoming purchased a new stake in shares of Genworth Financial in the 2nd quarter worth approximately $29,000. Prelude Capital Management LLC bought a new position in Genworth Financial in the second quarter worth about $35,000. Nomura Holdings Inc. bought a new position in Genworth Financial in the second quarter worth about $39,000. Private Advisor Group LLC purchased a new stake in shares of Genworth Financial during the first quarter valued at about $40,000. Finally, Cipher Capital LP bought a new stake in shares of Genworth Financial in the 2nd quarter valued at about $52,000. 81.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods boosted their price objective on shares of Genworth Financial from $6.50 to $7.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th.

Genworth Financial Stock Up 1.6 %

Genworth Financial stock opened at $5.88 on Friday. Genworth Financial, Inc. has a 1-year low of $4.51 and a 1-year high of $6.93. The business has a fifty day moving average price of $6.20 and a 200-day moving average price of $6.17. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of -588,000.00 and a beta of 1.06.

Genworth Financial (NYSE:GNW) last issued its quarterly earnings results on Wednesday, February 21st. The financial services provider reported ($0.51) earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.70). Genworth Financial had a negative return on equity of 0.23% and a net margin of 0.21%. The business had revenue of $1.91 billion during the quarter. During the same period in the previous year, the company posted $0.35 earnings per share.

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.