Genworth Financial Inc (GNW) Stake Lessened by Credit Suisse AG

Credit Suisse AG lowered its position in shares of Genworth Financial Inc (NYSE:GNW) by 6.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,895,255 shares of the financial services provider’s stock after selling 210,358 shares during the period. Credit Suisse AG’s holdings in Genworth Financial were worth $12,074,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Millennium Management LLC acquired a new stake in shares of Genworth Financial during the 1st quarter worth approximately $111,000. Advisors Preferred LLC acquired a new stake in Genworth Financial in the 2nd quarter valued at approximately $132,000. Laurion Capital Management LP acquired a new stake in Genworth Financial in the 2nd quarter valued at approximately $154,000. Mint Tower Capital Management B.V. acquired a new stake in Genworth Financial in the 2nd quarter valued at approximately $180,000. Finally, Strategic Wealth Advisors Group LLC acquired a new stake in Genworth Financial in the 3rd quarter valued at approximately $240,000. Institutional investors and hedge funds own 64.09% of the company’s stock.

Several research firms recently weighed in on GNW. Zacks Investment Research reiterated a “buy” rating and issued a $4.75 target price on shares of Genworth Financial in a report on Tuesday, November 13th. ValuEngine downgraded shares of Genworth Financial from a “sell” rating to a “strong sell” rating in a report on Thursday, November 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Genworth Financial currently has a consensus rating of “Hold” and a consensus price target of $4.88.

Genworth Financial stock opened at $4.33 on Friday. Genworth Financial Inc has a fifty-two week low of $2.66 and a fifty-two week high of $4.93. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.28 and a quick ratio of 0.28. The company has a market capitalization of $2.28 billion, a P/E ratio of 3.12 and a beta of 2.01.

Genworth Financial (NYSE:GNW) last posted its earnings results on Wednesday, October 31st. The financial services provider reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.03. Genworth Financial had a net margin of 9.89% and a return on equity of 5.35%. The firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter last year, the firm earned $0.15 EPS. The firm’s revenue for the quarter was up .0% on a year-over-year basis. On average, sell-side analysts expect that Genworth Financial Inc will post 1.17 EPS for the current year.

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About Genworth Financial

Genworth Financial, Inc provides insurance and homeownership solutions in the United States and internationally. It operates through five segments: U.S. Mortgage Insurance, Canada Mortgage Insurance, Australia Mortgage Insurance, U.S. Life Insurance, and Runoff. The U.S. Mortgage Insurance segment offers mortgage insurance products primarily insuring prime-based, individually underwritten residential mortgage loans.

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Institutional Ownership by Quarter for Genworth Financial (NYSE:GNW)

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