American Century Companies Inc. Raises Stake in Genworth Financial, Inc. (NYSE:GNW)

American Century Companies Inc. lifted its position in shares of Genworth Financial, Inc. (NYSE:GNW) by 9.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 7,054,069 shares of the financial services provider’s stock after buying an additional 590,496 shares during the period. American Century Companies Inc. owned 1.61% of Genworth Financial worth $42,607,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. UniSuper Management Pty Ltd purchased a new position in shares of Genworth Financial during the 1st quarter worth $562,000. Denali Advisors LLC lifted its position in Genworth Financial by 69.8% during the first quarter. Denali Advisors LLC now owns 530,300 shares of the financial services provider’s stock worth $3,410,000 after buying an additional 218,000 shares during the period. Assenagon Asset Management S.A. boosted its stake in Genworth Financial by 138.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 4,233,541 shares of the financial services provider’s stock worth $25,571,000 after buying an additional 2,456,816 shares during the last quarter. Robinson Smith Wealth Advisors LLC acquired a new position in shares of Genworth Financial during the 4th quarter valued at about $513,000. Finally, Norges Bank purchased a new position in shares of Genworth Financial during the 4th quarter worth about $23,292,000. Institutional investors and hedge funds own 81.85% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Genworth Financial from a “buy” rating to a “hold” rating in a report on Friday, September 6th.

Genworth Financial Trading Up 0.9 %

Shares of GNW opened at $6.75 on Tuesday. The stock’s fifty day simple moving average is $6.60 and its 200 day simple moving average is $6.36. Genworth Financial, Inc. has a twelve month low of $5.32 and a twelve month high of $7.01. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $2.95 billion, a P/E ratio of 35.53 and a beta of 0.94.

Genworth Financial (NYSE:GNW) last released its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.09. The business had revenue of $1.77 billion for the quarter. Genworth Financial had a return on equity of 0.25% and a net margin of 0.43%. During the same period in the prior year, the firm earned $0.29 earnings per share.

Insiders Place Their Bets

In other news, CEO Thomas J. Mcinerney sold 150,000 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $6.88, for a total value of $1,032,000.00. Following the transaction, the chief executive officer now owns 4,532,954 shares of the company’s stock, valued at approximately $31,186,723.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.80% of the stock is owned by insiders.

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.