Victory Capital Management Inc. Boosts Position in Genworth Financial, Inc. (NYSE:GNW)

Victory Capital Management Inc. grew its stake in Genworth Financial, Inc. (NYSE:GNW) by 5.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 618,852 shares of the financial services provider’s stock after acquiring an additional 30,041 shares during the quarter. Victory Capital Management Inc. owned about 0.14% of Genworth Financial worth $3,738,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in GNW. Headlands Technologies LLC acquired a new stake in shares of Genworth Financial in the first quarter valued at about $25,000. SageView Advisory Group LLC bought a new stake in shares of Genworth Financial during the 1st quarter worth about $30,000. Nomura Asset Management Co. Ltd. raised its stake in shares of Genworth Financial by 29.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 8,700 shares of the financial services provider’s stock worth $58,000 after buying an additional 2,000 shares in the last quarter. Empowered Funds LLC bought a new stake in Genworth Financial in the first quarter worth about $67,000. Finally, Heritage Wealth Advisors acquired a new stake in Genworth Financial during the first quarter valued at approximately $74,000. 81.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Thomas J. Mcinerney sold 150,000 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $6.88, for a total value of $1,032,000.00. Following the completion of the sale, the chief executive officer now owns 4,532,954 shares in the company, valued at $31,186,723.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

Genworth Financial Stock Performance

Shares of NYSE GNW opened at $6.75 on Tuesday. The business’s 50-day simple moving average is $6.60 and its 200-day simple moving average is $6.36. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.29 and a current ratio of 0.29. Genworth Financial, Inc. has a 52 week low of $5.32 and a 52 week high of $7.01. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 35.53 and a beta of 0.94.

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

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.