Profund Advisors LLC Cuts Stake in Genworth Financial Inc (GNW)

Profund Advisors LLC lessened its position in shares of Genworth Financial Inc (NYSE:GNW) by 36.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,108 shares of the financial services provider’s stock after selling 38,882 shares during the quarter. Profund Advisors LLC’s holdings in Genworth Financial were worth $253,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. NEXT Financial Group Inc lifted its stake in shares of Genworth Financial by 0.5% during the second quarter. NEXT Financial Group Inc now owns 31,651 shares of the financial services provider’s stock valued at $119,000 after acquiring an additional 151 shares during the period. Teacher Retirement System of Texas lifted its stake in shares of Genworth Financial by 1.1% during the second quarter. Teacher Retirement System of Texas now owns 40,020 shares of the financial services provider’s stock valued at $151,000 after acquiring an additional 418 shares during the period. Amalgamated Bank lifted its stake in shares of Genworth Financial by 1.2% during the second quarter. Amalgamated Bank now owns 71,452 shares of the financial services provider’s stock valued at $269,000 after acquiring an additional 818 shares during the period. Wellington Management Group LLP lifted its stake in shares of Genworth Financial by 0.3% during the first quarter. Wellington Management Group LLP now owns 292,904 shares of the financial services provider’s stock valued at $1,207,000 after acquiring an additional 1,002 shares during the period. Finally, Advantus Capital Management Inc lifted its stake in shares of Genworth Financial by 3.0% during the first quarter. Advantus Capital Management Inc now owns 63,817 shares of the financial services provider’s stock valued at $263,000 after acquiring an additional 1,877 shares during the period. 67.58% of the stock is currently owned by institutional investors and hedge funds.

Genworth Financial Inc (NYSE GNW) opened at 3.79 on Thursday. The firm’s market cap is $1.89 billion. Genworth Financial Inc has a 1-year low of $3.12 and a 1-year high of $5.27. The firm has a 50-day moving average price of $3.66 and a 200 day moving average price of $3.69.

Genworth Financial (NYSE:GNW) last released its quarterly earnings results on Tuesday, August 1st. The financial services provider reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.08. Genworth Financial had a negative return on equity of 1.63% and a negative net margin of 1.66%. The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the previous year, the company posted $0.39 EPS. The business’s revenue was down .6% on a year-over-year basis. Equities analysts predict that Genworth Financial Inc will post $1.03 earnings per share for the current year.

Several equities analysts have recently issued reports on GNW shares. Zacks Investment Research lowered Genworth Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Wells Fargo & Company reaffirmed a “hold” rating on shares of Genworth Financial in a research note on Tuesday, August 1st. BTIG Research reaffirmed a “neutral” rating on shares of Genworth Financial in a research note on Saturday, September 16th. BidaskClub raised Genworth Financial from a “sell” rating to a “hold” rating in a research note on Saturday, July 1st. Finally, ValuEngine raised Genworth Financial from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $4.27.

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About Genworth Financial

Genworth Financial, Inc (Genworth) is a financial security company. The Company provides insurance, wealth management, investment and financial solutions. As of December 31, 2011, the Company had more than 15 million customers, with a presence in more than 25 countries. The Company operates in Insurance, Mortgage Insurance and Corporate and Runoff.

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

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