Victory Capital Management Inc. Boosts Stock Position in Genworth Financial, Inc. (NYSE:GNW)

Victory Capital Management Inc. grew its holdings in shares of Genworth Financial, Inc. (NYSE:GNW) by 6.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 656,438 shares of the financial services provider’s stock after purchasing an additional 37,586 shares during the quarter. Victory Capital Management Inc. owned approximately 0.15% of Genworth Financial worth $4,497,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Assenagon Asset Management S.A. increased its position in Genworth Financial by 138.3% in the second 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. grew its stake in shares of Genworth Financial by 93.5% during 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 acquiring an additional 1,958,632 shares during the period. Cubist Systematic Strategies LLC grew its stake in shares of Genworth Financial by 3,395.1% during 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 acquiring an additional 1,729,167 shares during the period. Millennium Management LLC increased its holdings in Genworth Financial by 51.5% in the 2nd quarter. Millennium Management LLC now owns 2,778,921 shares of the financial services provider’s stock worth $16,785,000 after acquiring an additional 944,677 shares during the last quarter. Finally, Donald Smith & CO. Inc. raised its stake in Genworth Financial by 3.7% in 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. 81.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Genworth Financial Price Performance

GNW stock opened at $7.77 on Friday. The firm has a 50 day simple moving average of $6.98 and a two-hundred day simple moving average of $6.62. The stock has a market cap of $3.32 billion, a PE ratio of 36.62 and a beta of 0.95. Genworth Financial, Inc. has a one year low of $5.67 and a one year high of $7.77. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.29 and a quick ratio of 0.29.

Insider Activity at Genworth Financial

In related news, CEO Thomas J. Mcinerney sold 150,000 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 4,532,954 shares in the company, valued at $31,186,723.52. This represents a 3.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.80% of the stock is owned by insiders.

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.