Sei Investments Co. boosted its position in Genworth Financial Inc (NYSE:GNW) by 2,713.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 76,687 shares of the financial services provider’s stock after acquiring an additional 73,961 shares during the period. Sei Investments Co.’s holdings in Genworth Financial were worth $345,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in GNW. Millennium Management LLC purchased a new stake in Genworth Financial in the 1st quarter worth approximately $111,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Genworth Financial by 82.7% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,837 shares of the financial services provider’s stock worth $113,000 after acquiring an additional 18,036 shares during the period. Ontario Teachers Pension Plan Board grew its stake in Genworth Financial by 78.1% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 51,416 shares of the financial services provider’s stock worth $146,000 after acquiring an additional 22,548 shares during the period. First Allied Advisory Services Inc. grew its stake in Genworth Financial by 51.4% in the 1st quarter. First Allied Advisory Services Inc. now owns 56,261 shares of the financial services provider’s stock worth $165,000 after acquiring an additional 19,105 shares during the period. Finally, KBC Group NV purchased a new stake in Genworth Financial in the 1st quarter worth approximately $174,000. 63.39% of the stock is owned by hedge funds and other institutional investors.
Several research firms have commented on GNW. Zacks Investment Research raised shares of Genworth Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, July 3rd. ValuEngine cut shares of Genworth Financial from a “sell” rating to a “strong sell” rating in a research note on Monday, July 2nd. BTIG Research reaffirmed a “hold” rating on shares of Genworth Financial in a research note on Tuesday, June 12th. Finally, Wells Fargo & Co reaffirmed a “hold” rating and issued a $5.00 target price (up from $3.00) on shares of Genworth Financial in a research note on Wednesday, June 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $4.75.
Shares of GNW opened at $4.44 on Monday. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of 3.19 and a beta of 2.40. Genworth Financial Inc has a fifty-two week low of $2.66 and a fifty-two week high of $4.92. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.27.
Genworth Financial (NYSE:GNW) last announced its quarterly earnings results on Tuesday, July 31st. The financial services provider reported $0.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.13. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.15 billion. Genworth Financial had a net margin of 9.32% and a return on equity of 4.85%. Genworth Financial’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter last year, the business earned $0.30 EPS. sell-side analysts forecast that Genworth Financial Inc will post 1.11 earnings per share for the current fiscal year.
About Genworth Financial
Genworth Financial, Inc provides insurance and homeownership solutions in the United States and internationally. It operates through five segments: U.S. Mortgage Insurance, Canada Mortgage Insurance, Australia Mortgage Insurance, U.S. Life Insurance, and Runoff. The U.S. Mortgage Insurance segment offers mortgage insurance products primarily insuring prime-based, individually underwritten residential mortgage loans.
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