PNC Financial Services Group Inc. cut its stake in Genworth Financial, Inc. (NYSE:GNW – Free Report) 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
Genworth Financial (NYSE:GNW – Get Free Report) 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.
Further Reading
- Five stocks we like better than Genworth Financial
- Buy P&G Now, Before It Sets A New All-Time High
- Stock Impact: McDonald’s Price War with Starbucks, Wendy’s
- How to Use Stock Screeners to Find Stocks
- General Mills Q4 Sales Miss Expectations, Triggering Stock Drop
- What is the S&P/TSX Index?
- Enovix Stock Rises 35% in Short-Squeeze: This Rally Has Legs
Receive News & Ratings for Genworth Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genworth Financial and related companies with MarketBeat.com's FREE daily email newsletter.