Bank of New York Mellon Corp Sells 352,876 Shares of Genworth Financial, Inc. (NYSE:GNW)

Bank of New York Mellon Corp cut its position in Genworth Financial, Inc. (NYSE:GNW - Free Report) by 10.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,874,162 shares of the financial services provider's stock after selling 352,876 shares during the quarter. Bank of New York Mellon Corp owned 0.67% of Genworth Financial worth $20,090,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Byrne Asset Management LLC lifted its stake in Genworth Financial by 148.9% during the fourth quarter. Byrne Asset Management LLC now owns 4,480 shares of the financial services provider's stock worth $31,000 after purchasing an additional 2,680 shares during the last quarter. LMR Partners LLP bought a new stake in shares of Genworth Financial during the 3rd quarter worth $73,000. GAMMA Investing LLC boosted its stake in Genworth Financial by 17.2% in the fourth quarter. GAMMA Investing LLC now owns 10,838 shares of the financial services provider's stock valued at $76,000 after buying an additional 1,591 shares in the last quarter. Atlas Wealth LLC bought a new position in Genworth Financial in the third quarter valued at about $91,000. Finally, Truist Financial Corp bought a new position in Genworth Financial in the fourth quarter valued at about $105,000. Institutional investors and hedge funds own 81.85% of the company's stock.

Genworth Financial Price Performance

Shares of NYSE:GNW traded up $0.03 during trading on Tuesday, hitting $6.50. 6,505,260 shares of the company were exchanged, compared to its average volume of 2,983,842. Genworth Financial, Inc. has a 1-year low of $5.67 and a 1-year high of $7.90. The company has a market capitalization of $2.72 billion, a P/E ratio of 9.55 and a beta of 1.02. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.16. The business's 50 day moving average is $6.98 and its 200-day moving average is $7.04.

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Genworth Financial (NYSE:GNW - Get Free Report) last issued its earnings results on Tuesday, February 18th. The financial services provider reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.14). Genworth Financial had a return on equity of 2.96% and a net margin of 4.10%. The firm had revenue of $1.82 billion during the quarter. During the same period in the previous year, the firm posted ($0.51) earnings per share.

Analyst Ratings Changes

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

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.