PNC Financial Services Group Inc. Lowers Position in Genworth Financial, Inc. (NYSE:GNW)

PNC Financial Services Group Inc. cut its stake in Genworth Financial, Inc. (NYSE:GNW) by 34.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 86,921 shares of the financial services provider’s stock after selling 44,964 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Genworth Financial were worth $581,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Daiwa Securities Group Inc. purchased a new stake in shares of Genworth Financial in the fourth quarter worth approximately $33,000. GAMMA Investing LLC purchased a new stake in shares of Genworth Financial in the fourth quarter worth approximately $56,000. Nomura Asset Management Co. Ltd. increased its position in shares of Genworth Financial by 29.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 8,700 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 2,000 shares during the last quarter. Pathway Financial Advisors LLC purchased a new stake in shares of Genworth Financial during the fourth quarter valued at approximately $71,000. Finally, Seven Eight Capital LP purchased a new stake in shares of Genworth Financial during the third quarter valued at approximately $94,000. 81.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Genworth Financial

In other Genworth Financial news, CEO Thomas J. Mcinerney sold 200,000 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $6.27, for a total transaction of $1,254,000.00. Following the completion of the transaction, the chief executive officer now directly owns 4,361,980 shares of the company’s stock, valued at $27,349,614.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.80% of the stock is owned by corporate insiders.

Genworth Financial Stock Performance

Shares of GNW opened at $6.10 on Thursday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of 32.11 and a beta of 1.00. The stock has a 50 day moving average of $6.25 and a 200 day moving average of $6.28. Genworth Financial, Inc. has a 12 month low of $4.83 and a 12 month high of $6.93.

Genworth Financial (NYSE:GNW) last announced its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $0.19 earnings per share for the quarter. Genworth Financial had a negative return on equity of 0.21% and a net margin of 1.24%. The business had revenue of $1.86 billion during the quarter.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods increased their price target on Genworth Financial from $6.50 to $7.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th.

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.