Genworth Financial, Inc. (NYSE:GNW) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. decreased its holdings in Genworth Financial, Inc. (NYSE:GNW) by 91.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 86,503 shares of the financial services provider’s stock after selling 914,313 shares during the quarter. Federated Hermes Inc.’s holdings in Genworth Financial were worth $522,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Norges Bank bought a new position in Genworth Financial in the 4th quarter valued at about $23,292,000. Donald Smith & CO. Inc. boosted its holdings in shares of Genworth Financial by 14.5% in the first quarter. Donald Smith & CO. Inc. now owns 24,244,607 shares of the financial services provider’s stock valued at $155,893,000 after acquiring an additional 3,069,355 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Genworth Financial by 138.3% during the second quarter. Assenagon Asset Management S.A. now owns 4,233,541 shares of the financial services provider’s stock valued at $25,571,000 after acquiring an additional 2,456,816 shares during the period. Acadian Asset Management LLC raised its holdings in Genworth Financial by 1,896.5% during the second 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 in the last quarter. Finally, American Century Companies Inc. lifted its position in Genworth Financial by 9.1% in the second quarter. American Century Companies Inc. now owns 7,054,069 shares of the financial services provider’s stock worth $42,607,000 after purchasing an additional 590,496 shares during the period. 81.85% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Genworth Financial

In other news, CEO Thomas J. Mcinerney sold 150,000 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $6.88, for a total transaction of $1,032,000.00. Following the sale, the chief executive officer now directly owns 4,532,954 shares of the company’s stock, valued at $31,186,723.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.80% of the company’s stock.

Genworth Financial Stock Performance

NYSE:GNW opened at $6.85 on Tuesday. The company has a 50-day moving average of $6.67 and a 200-day moving average of $6.38. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of 36.05 and a beta of 0.94. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.17. Genworth Financial, Inc. has a twelve month low of $5.32 and a twelve month high of $7.01.

Genworth Financial (NYSE:GNW) last issued its 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. The firm had revenue of $1.77 billion during the quarter. Genworth Financial had a net margin of 0.43% and a return on equity of 0.25%. During the same quarter in the previous year, the business posted $0.29 earnings per share.

Analysts Set New Price Targets

Separately, StockNews.com downgraded 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.