State of New Jersey Common Pension Fund D Lowers Stake in Genworth Financial, Inc. (NYSE:GNW)

State of New Jersey Common Pension Fund D lowered its stake in shares of Genworth Financial, Inc. (NYSE:GNW) by 32.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 302,832 shares of the financial services provider’s stock after selling 144,986 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.07% of Genworth Financial worth $1,829,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Factorial Partners LLC raised its position in Genworth Financial by 9.7% in the 2nd quarter. Factorial Partners LLC now owns 620,000 shares of the financial services provider’s stock worth $3,745,000 after purchasing an additional 55,000 shares during the period. Headlands Technologies LLC raised its position in Genworth Financial by 706.4% in the 2nd quarter. Headlands Technologies LLC now owns 31,258 shares of the financial services provider’s stock worth $189,000 after purchasing an additional 27,382 shares during the period. Texas Permanent School Fund Corp raised its position in Genworth Financial by 9.6% in the 2nd quarter. Texas Permanent School Fund Corp now owns 432,470 shares of the financial services provider’s stock worth $2,612,000 after purchasing an additional 37,755 shares during the period. Choreo LLC purchased a new position in Genworth Financial in the 2nd quarter worth $110,000. Finally, Acadian Asset Management LLC raised its position in Genworth Financial by 1,896.5% in the 2nd quarter. Acadian Asset Management LLC now owns 733,968 shares of the financial services provider’s stock worth $4,428,000 after purchasing an additional 697,206 shares during the period. Hedge funds and other institutional investors own 81.85% of the company’s stock.

Genworth Financial Price Performance

Shares of Genworth Financial stock opened at $6.85 on Tuesday. The firm has a market cap of $3.00 billion, a PE ratio of 36.05 and a beta of 0.94. Genworth Financial, Inc. has a 12-month low of $5.32 and a 12-month high of $7.01. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.17. The company’s fifty day simple moving average is $6.67 and its two-hundred day simple moving average is $6.38.

Genworth Financial (NYSE:GNW) last announced its earnings results on Wednesday, July 31st. The financial services provider reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.09. The firm 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 firm posted $0.29 EPS.

Analyst Ratings Changes

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

Insider Activity

In related news, CEO Thomas J. Mcinerney sold 150,000 shares of Genworth Financial stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $6.88, for a total transaction of $1,032,000.00. Following the completion of the transaction, the chief executive officer now directly owns 4,532,954 shares of the company’s stock, valued at approximately $31,186,723.52. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.80% of the company’s stock.

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.