Navellier & Associates Inc. Sells 2,620 Shares of Genworth Financial, Inc. (NYSE:GNW)

Navellier & Associates Inc. lessened its position in Genworth Financial, Inc. (NYSE:GNW) by 9.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 24,687 shares of the financial services provider’s stock after selling 2,620 shares during the period. Navellier & Associates Inc.’s holdings in Genworth Financial were worth $169,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. UniSuper Management Pty Ltd bought a new position in shares of Genworth Financial during the first quarter valued at $562,000. Donald Smith & CO. Inc. lifted its stake in Genworth Financial by 3.7% during the 3rd quarter. Donald Smith & CO. Inc. now owns 25,015,294 shares of the financial services provider’s stock valued at $171,355,000 after acquiring an additional 901,485 shares during the period. Assenagon Asset Management S.A. lifted its stake in Genworth Financial by 138.3% during the 2nd 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. River Road Asset Management LLC boosted its holdings in shares of Genworth Financial by 0.8% during the 3rd quarter. River Road Asset Management LLC now owns 17,391,968 shares of the financial services provider’s stock valued at $119,135,000 after acquiring an additional 131,634 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Genworth Financial by 0.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 912,090 shares of the financial services provider’s stock worth $6,248,000 after acquiring an additional 7,502 shares during the period. 81.85% of the stock is owned by institutional investors.

Genworth Financial Stock Performance

GNW stock opened at $7.77 on Friday. The company has a market cap of $3.32 billion, a P/E ratio of 36.98 and a beta of 0.95. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.29 and a quick ratio of 0.29. Genworth Financial, Inc. has a 1 year low of $5.67 and a 1 year high of $7.77. The stock’s fifty day moving average price is $6.98 and its 200-day moving average price is $6.62.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Genworth Financial from a “buy” rating to a “hold” rating in a research report on Wednesday.

Insiders Place Their Bets

In other Genworth Financial news, CEO Thomas J. Mcinerney sold 150,000 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were 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 directly owns 4,532,954 shares in the company, valued at approximately $31,186,723.52. This trade represents a 3.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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.