Royce & Associates LP Sells 90,531 Shares of Genworth Financial, Inc. (NYSE:GNW)

Royce & Associates LP lessened its position in Genworth Financial, Inc. (NYSE:GNW) by 54.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 75,596 shares of the financial services provider’s stock after selling 90,531 shares during the period. Royce & Associates LP’s holdings in Genworth Financial were worth $536,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its position in Genworth Financial by 2.7% during the first quarter. Principal Financial Group Inc. now owns 2,126,240 shares of the financial services provider’s stock valued at $15,075,000 after purchasing an additional 55,085 shares during the period. GAMMA Investing LLC lifted its position in Genworth Financial by 494.7% during the first quarter. GAMMA Investing LLC now owns 64,455 shares of the financial services provider’s stock valued at $457,000 after purchasing an additional 53,617 shares during the period. Wells Fargo & Company MN lifted its position in Genworth Financial by 26.1% during the fourth quarter. Wells Fargo & Company MN now owns 266,198 shares of the financial services provider’s stock valued at $1,861,000 after purchasing an additional 55,078 shares during the period. Handelsbanken Fonder AB lifted its position in Genworth Financial by 56.0% during the first quarter. Handelsbanken Fonder AB now owns 112,490 shares of the financial services provider’s stock valued at $798,000 after purchasing an additional 40,400 shares during the period. Finally, Deutsche Bank AG lifted its position in Genworth Financial by 34.1% during the fourth quarter. Deutsche Bank AG now owns 430,853 shares of the financial services provider’s stock valued at $3,012,000 after purchasing an additional 109,570 shares during the period. Institutional investors own 81.85% of the company’s stock.

Genworth Financial Stock Down 1.4%

Shares of GNW stock opened at $8.00 on Wednesday. Genworth Financial, Inc. has a 12 month low of $5.99 and a 12 month high of $8.29. The stock has a market cap of $3.31 billion, a P/E ratio of 15.99 and a beta of 1.06. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.16. The company has a 50 day simple moving average of $7.38 and a two-hundred day simple moving average of $7.07.

Genworth Financial (NYSE:GNW) last announced its earnings results on Wednesday, April 30th. The financial services provider reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.09). The business had revenue of $1.76 billion for the quarter. Genworth Financial had a net margin of 2.97% and a return on equity of 2.53%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GNW. Keefe, Bruyette & Woods upped their target price on shares of Genworth Financial from $9.00 to $9.50 and gave the company an “outperform” rating in a report on Wednesday, July 9th. Wall Street Zen cut shares of Genworth Financial from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd.

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.