Allspring Global Investments Holdings LLC reduced its stake in Genworth Financial, Inc. (NYSE:GNW – Get Rating) by 6.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 116,269 shares of the financial services provider’s stock after selling 7,890 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Genworth Financial were worth $406,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the stock. Donald Smith & CO. Inc. lifted its holdings in Genworth Financial by 39.8% during the 2nd quarter. Donald Smith & CO. Inc. now owns 17,287,015 shares of the financial services provider’s stock worth $61,023,000 after buying an additional 4,918,471 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Genworth Financial by 25.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 12,752,890 shares of the financial services provider’s stock worth $48,206,000 after buying an additional 2,590,196 shares in the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in Genworth Financial during the 2nd quarter worth approximately $6,072,000. Allianz Asset Management GmbH lifted its holdings in Genworth Financial by 48.8% during the 1st quarter. Allianz Asset Management GmbH now owns 5,060,606 shares of the financial services provider’s stock worth $19,130,000 after buying an additional 1,660,004 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in Genworth Financial during the 2nd quarter worth approximately $5,617,000. 75.91% of the stock is currently owned by institutional investors and hedge funds.
Genworth Financial Price Performance
Shares of GNW opened at $5.44 on Wednesday. Genworth Financial, Inc. has a twelve month low of $3.43 and a twelve month high of $5.47. The firm’s fifty day simple moving average is $5.12 and its 200-day simple moving average is $4.51. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of 4.69 and a beta of 1.09. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.16.
Analysts Set New Price Targets
Separately, StockNews.com began coverage on shares of Genworth Financial in a report on Wednesday, October 12th. They issued a “hold” rating on the stock.
Insider Activity at Genworth Financial
In related news, CEO Thomas J. Mcinerney sold 200,000 shares of the stock in a transaction on Friday, November 4th. The shares were sold at an average price of $4.58, for a total value of $916,000.00. Following the transaction, the chief executive officer now directly owns 3,639,625 shares of the company’s stock, valued at approximately $16,669,482.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.99% of the company’s stock.
Genworth Financial Profile
Genworth Financial, Inc provides insurance products in the United States and internationally. The company operates in three segments: Enact, U.S. Life Insurance, and Runoff. The Enact segment offers mortgage insurance products primarily insuring prime-based, individually underwritten residential mortgage loans; and pool mortgage insurance products.
- Get a free copy of the StockNews.com research report on Genworth Financial (GNW)
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