Algert Global LLC Buys 203,031 Shares of Genworth Financial, Inc. (NYSE:GNW)

Algert Global LLC grew its stake in shares of Genworth Financial, Inc. (NYSE:GNW) by 52.1% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 593,031 shares of the financial services provider’s stock after purchasing an additional 203,031 shares during the period. Algert Global LLC owned about 0.14% of Genworth Financial worth $3,582,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GNW. Norges Bank purchased a new position in shares of Genworth Financial in the 4th quarter worth approximately $23,292,000. Donald Smith & CO. Inc. boosted its stake in shares of Genworth Financial by 14.5% in the 1st quarter. Donald Smith & CO. Inc. now owns 24,244,607 shares of the financial services provider’s stock worth $155,893,000 after buying an additional 3,069,355 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Genworth Financial by 138.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 4,233,541 shares of the financial services provider’s stock worth $25,571,000 after buying an additional 2,456,816 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its stake in shares of Genworth Financial by 93.5% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 4,052,621 shares of the financial services provider’s stock worth $24,478,000 after buying an additional 1,958,632 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of Genworth Financial by 3,395.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,780,098 shares of the financial services provider’s stock worth $10,752,000 after buying an additional 1,729,167 shares during the last quarter. 81.85% of the stock is owned by institutional investors.

Insider Activity at Genworth Financial

In related news, CEO Thomas J. Mcinerney sold 150,000 shares of the company’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 transaction, the chief executive officer now owns 4,532,954 shares in the company, valued at $31,186,723.52. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.80% of the stock is owned by company insiders.

Genworth Financial Price Performance

Shares of NYSE GNW opened at $6.85 on Tuesday. Genworth Financial, Inc. has a twelve month low of $5.32 and a twelve 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 stock’s 50 day moving average price is $6.70 and its 200-day moving average price is $6.39. The company has a market capitalization of $3.00 billion, a PE ratio of 36.05 and a beta of 0.94.

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

Analyst Ratings Changes

Separately, StockNews.com downgraded Genworth Financial from a “buy” rating to a “hold” rating in a research note 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.