Genworth Financial, Inc. (NYSE:GNW) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc lowered its position in Genworth Financial, Inc. (NYSE:GNW) by 3.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,216 shares of the financial services provider’s stock after selling 1,577 shares during the period. CIBC Asset Management Inc’s holdings in Genworth Financial were worth $282,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Covestor Ltd grew its position in Genworth Financial by 11.8% during the third quarter. Covestor Ltd now owns 17,721 shares of the financial services provider’s stock worth $122,000 after buying an additional 1,868 shares during the period. Sage Rhino Capital LLC boosted its stake in shares of Genworth Financial by 9.8% during the 2nd quarter. Sage Rhino Capital LLC now owns 21,899 shares of the financial services provider’s stock worth $132,000 after acquiring an additional 1,950 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Genworth Financial by 72.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,828 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 2,022 shares during the period. RMR Wealth Builders increased its stake in Genworth Financial by 20.2% in the 2nd quarter. RMR Wealth Builders now owns 12,620 shares of the financial services provider’s stock valued at $76,000 after purchasing an additional 2,120 shares in the last quarter. Finally, Inspire Investing LLC raised its holdings in Genworth Financial by 4.0% during the second quarter. Inspire Investing LLC now owns 57,835 shares of the financial services provider’s stock worth $349,000 after purchasing an additional 2,241 shares during the last quarter. Hedge funds and other institutional investors own 81.85% of the company’s stock.

Insider Transactions at Genworth Financial

In related news, CEO Thomas J. Mcinerney sold 150,000 shares of the 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 owns 4,532,954 shares of the company’s stock, valued at $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 available at the SEC website. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Genworth Financial Stock Performance

Shares of GNW opened at $7.77 on Friday. Genworth Financial, Inc. has a 12-month low of $5.67 and a 12-month high of $7.77. The stock 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 current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.17. The company has a 50-day moving average of $6.98 and a two-hundred day moving average of $6.62.

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.