Genworth Financial, Inc. (NYSE:GNW) Shares Bought by Millennium Management LLC

Millennium Management LLC grew its position in shares of Genworth Financial, Inc. (NYSE:GNW) by 51.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,778,921 shares of the financial services provider’s stock after purchasing an additional 944,677 shares during the period. Millennium Management LLC owned approximately 0.63% of Genworth Financial worth $16,785,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GNW. First Trust Direct Indexing L.P. increased its stake in Genworth Financial by 9.9% during the 1st quarter. First Trust Direct Indexing L.P. now owns 19,670 shares of the financial services provider’s stock worth $126,000 after buying an additional 1,780 shares during the period. Covestor Ltd increased its position in shares of Genworth Financial by 11.5% during the first quarter. Covestor Ltd now owns 18,131 shares of the financial services provider’s stock worth $117,000 after acquiring an additional 1,868 shares during the last quarter. Sage Rhino Capital LLC lifted its stake in shares of Genworth Financial by 9.8% in the second quarter. Sage Rhino Capital LLC now owns 21,899 shares of the financial services provider’s stock worth $132,000 after acquiring an additional 1,950 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Genworth Financial by 72.1% in the second quarter. EverSource Wealth Advisors LLC now owns 4,828 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 2,022 shares during the last quarter. Finally, RMR Wealth Builders grew its stake in Genworth Financial by 20.2% during the 2nd quarter. RMR Wealth Builders now owns 12,620 shares of the financial services provider’s stock valued at $76,000 after purchasing an additional 2,120 shares in the last quarter. 81.85% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Thomas J. Mcinerney sold 150,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 4,532,954 shares in the company, valued at approximately $31,186,723.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by company insiders.

Genworth Financial Trading Up 2.5 %

NYSE GNW opened at $6.89 on Friday. The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of 36.26 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. Genworth Financial, Inc. has a 12 month low of $5.32 and a 12 month high of $7.01. The company’s fifty day moving average price is $6.70 and its two-hundred day moving average price is $6.41.

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

Analyst Ratings Changes

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

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.