State of Alaska Department of Revenue Has $1.92 Million Stock Position in Genworth Financial, Inc. $GNW

State of Alaska Department of Revenue grew its position in Genworth Financial, Inc. (NYSE:GNW) by 4.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 246,903 shares of the financial services provider’s stock after buying an additional 10,289 shares during the period. State of Alaska Department of Revenue’s holdings in Genworth Financial were worth $1,920,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Byrne Asset Management LLC grew its holdings in shares of Genworth Financial by 69.5% in the 1st quarter. Byrne Asset Management LLC now owns 7,595 shares of the financial services provider’s stock valued at $54,000 after buying an additional 3,115 shares during the period. Abel Hall LLC acquired a new position in shares of Genworth Financial in the 1st quarter valued at $71,000. Blueshift Asset Management LLC acquired a new position in shares of Genworth Financial in the 1st quarter valued at $71,000. Strs Ohio acquired a new position in Genworth Financial in the 1st quarter worth $82,000. Finally, GAMMA Investing LLC boosted its stake 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 purchasing an additional 2,679 shares during the period. Institutional investors and hedge funds own 81.85% of the company’s stock.

Genworth Financial Price Performance

NYSE:GNW opened at $8.91 on Friday. Genworth Financial, Inc. has a 52-week low of $5.99 and a 52-week high of $9.15. The company has a market cap of $3.65 billion, a P/E ratio of 19.79 and a beta of 0.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.29 and a current ratio of 0.29. The stock’s 50-day simple moving average is $8.53 and its 200 day simple moving average is $7.59.

Genworth Financial (NYSE:GNW) last announced its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.11. The firm had revenue of $1.80 billion during the quarter. Genworth Financial had a net margin of 2.61% and a return on equity of 1.91%.

Analyst Upgrades and Downgrades

GNW has been the topic of several recent research reports. Wall Street Zen downgraded Genworth Financial from a “hold” rating to a “sell” rating in a research note on Sunday, September 7th. Keefe, Bruyette & Woods lifted their target price on Genworth Financial from $9.00 to $9.50 and gave the company an “outperform” rating in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $9.50.

Insider Activity

In other news, CEO Rohit Gupta sold 86,406 shares of the company’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $8.68, for a total value of $750,004.08. Following the sale, the chief executive officer directly owned 794,630 shares of the company’s stock, valued at approximately $6,897,388.40. This represents a 9.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.80% of the company’s stock.

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.