Newport Trust Company LLC Lowers Holdings in Genworth Financial, Inc. (NYSE:GNW)

Newport Trust Company LLC reduced its position in shares of Genworth Financial, Inc. (NYSE:GNW) by 7.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,214,825 shares of the financial services provider’s stock after selling 99,090 shares during the quarter. Newport Trust Company LLC owned about 0.28% of Genworth Financial worth $7,338,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Personalized Indexing Management LLC increased its stake in shares of Genworth Financial by 6.9% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 46,509 shares of the financial services provider’s stock valued at $311,000 after buying an additional 3,009 shares during the period. Norges Bank purchased a new position in Genworth Financial during the 4th quarter valued at about $23,292,000. Franklin Resources Inc. raised its holdings in shares of Genworth Financial by 14.8% in the 4th quarter. Franklin Resources Inc. now owns 339,259 shares of the financial services provider’s stock valued at $2,266,000 after purchasing an additional 43,810 shares in the last quarter. IMC Chicago LLC purchased a new stake in shares of Genworth Financial in the 4th quarter worth approximately $410,000. Finally, Objectivity Squared LLC bought a new position in shares of Genworth Financial during the fourth quarter valued at approximately $148,000. 81.85% of the stock is owned by institutional investors.

Insider Transactions at Genworth Financial

In other Genworth Financial news, CEO Thomas J. Mcinerney sold 150,000 shares of the firm’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 of the company’s stock, valued at $31,186,723.52. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.80% of the company’s stock.

Genworth Financial Price Performance

Shares of GNW stock opened at $6.86 on Friday. The company has a market cap of $3.00 billion, a P/E ratio of 36.11 and a beta of 0.94. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.29 and a quick ratio of 0.29. The stock’s 50-day moving average is $6.65 and its 200 day moving average is $6.37. Genworth Financial, Inc. has a 1-year low of $5.32 and a 1-year high of $7.01.

Genworth Financial (NYSE:GNW) last posted its earnings results on Wednesday, July 31st. The financial services provider reported $0.28 EPS for the quarter, beating 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 company had revenue of $1.77 billion during the quarter. During the same period in the previous year, the company earned $0.29 EPS.

Analyst Upgrades and Downgrades

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

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.