Illinois Municipal Retirement Fund Cuts Stake in Genworth Financial, Inc. (NYSE:GNW)

Illinois Municipal Retirement Fund decreased its position in Genworth Financial, Inc. (NYSE:GNW) by 3.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 232,014 shares of the financial services provider’s stock after selling 9,455 shares during the period. Illinois Municipal Retirement Fund owned about 0.06% of Genworth Financial worth $1,645,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Truist Financial Corp acquired a new stake in Genworth Financial in the fourth quarter valued at about $105,000. Oppenheimer & Co. Inc. raised its stake in shares of Genworth Financial by 12.7% during the 4th quarter. Oppenheimer & Co. Inc. now owns 44,300 shares of the financial services provider’s stock worth $310,000 after buying an additional 5,000 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Genworth Financial by 279.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 10,494 shares of the financial services provider’s stock valued at $73,000 after buying an additional 7,729 shares during the period. Jones Financial Companies Lllp purchased a new stake in shares of Genworth Financial in the fourth quarter valued at approximately $41,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Genworth Financial by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,195,012 shares of the financial services provider’s stock valued at $36,313,000 after buying an additional 99,120 shares in the last quarter. Hedge funds and other institutional investors own 81.85% of the company’s stock.

Genworth Financial Stock Performance

GNW opened at $7.81 on Tuesday. Genworth Financial, Inc. has a 1-year low of $5.95 and a 1-year high of $8.00. The stock has a market cap of $3.24 billion, a P/E ratio of 15.62 and a beta of 1.03. The stock’s 50 day simple moving average is $7.10 and its 200 day simple moving average is $6.98. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.29 and a quick ratio of 0.29.

Genworth Financial (NYSE:GNW) last posted its earnings results on Wednesday, April 30th. The financial services provider reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.09). The firm had revenue of $1.76 billion during the quarter. Genworth Financial had a net margin of 2.97% and a return on equity of 2.53%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GNW. Keefe, Bruyette & Woods upgraded Genworth Financial from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $8.50 to $9.00 in a research report on Wednesday, June 18th. Wall Street Zen downgraded 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.