The Manufacturers Life Insurance Company Sells 7,523 Shares of Genworth Financial, Inc. (NYSE:GNW)

The Manufacturers Life Insurance Company lessened its stake in shares of Genworth Financial, Inc. (NYSE:GNW) by 3.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 231,938 shares of the financial services provider’s stock after selling 7,523 shares during the period. The Manufacturers Life Insurance Company’s holdings in Genworth Financial were worth $1,589,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted 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 valued at $29,000 after buying an additional 2,022 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in Genworth Financial in the third quarter valued at $30,000. GAMMA Investing LLC grew its position in shares of Genworth Financial by 34.0% in the 3rd quarter. GAMMA Investing LLC now owns 9,247 shares of the financial services provider’s stock valued at $63,000 after acquiring an additional 2,347 shares during the period. LMR Partners LLP acquired a new position in shares of Genworth Financial during the 3rd quarter worth about $73,000. Finally, RMR Wealth Builders raised its holdings in shares of 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 during the period. Institutional investors own 81.85% of the company’s stock.

Genworth Financial Price Performance

Genworth Financial stock opened at $7.36 on Wednesday. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of 35.05 and a beta of 0.99. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.17. Genworth Financial, Inc. has a 12 month low of $5.67 and a 12 month high of $7.90. The stock’s 50 day moving average is $7.20 and its 200-day moving average is $6.72.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Genworth Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th.

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.