Aigen Investment Management LP Grows Stock Holdings in Genworth Financial, Inc. (NYSE:GNW)

Key Points

• Aigen Investment Management LP significantly increased its stake in Genworth Financial by 877.3%, acquiring an additional 110,994 shares in the 1st quarter.
• Analysts have varied opinions on Genworth Financial, with Keefe, Bruyette & Woods raising their price target to $9.50, while Wall Street Zen downgraded the stock from "hold" to "sell."
• Genworth Financial reported earnings of $0.16 per share for the last quarter, exceeding estimates and generating $1.80 billion in revenue.

Aigen Investment Management LP increased its holdings in Genworth Financial, Inc. (NYSE:GNW - Free Report) by 877.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 123,646 shares of the financial services provider's stock after acquiring an additional 110,994 shares during the period. Aigen Investment Management LP's holdings in Genworth Financial were worth $877,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Byrne Asset Management LLC increased its stake in shares of Genworth Financial by 69.5% during the 1st quarter. Byrne Asset Management LLC now owns 7,595 shares of the financial services provider's stock worth $54,000 after purchasing an additional 3,115 shares during the last quarter. Blueshift Asset Management LLC purchased a new position in Genworth Financial in the 1st quarter valued at approximately $71,000. Abel Hall LLC purchased a new position in Genworth Financial in the 1st quarter valued at approximately $71,000. Pennington Partners & CO. LLC purchased a new position in Genworth Financial in the 4th quarter valued at approximately $84,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in Genworth Financial in the 4th quarter valued at $86,000. Institutional investors and hedge funds own 81.85% of the company's stock.

Genworth Financial Trading Down 2.8%

NYSE:GNW traded down $0.24 during trading hours on Friday, reaching $8.31. The company's stock had a trading volume of 4,625,153 shares, compared to its average volume of 6,701,517. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of 18.47 and a beta of 1.12. The firm has a 50-day simple moving average of $7.70 and a 200-day simple moving average of $7.18. Genworth Financial, Inc. has a 1 year low of $5.99 and a 1 year high of $8.60. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.29 and a current ratio of 0.29.

Genworth Financial (NYSE:GNW - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.11. Genworth Financial had a net margin of 2.61% and a return on equity of 1.91%. The firm had revenue of $1.80 billion for the quarter.

Wall Street Analyst Weigh In

Several research analysts have commented on GNW shares. Wall Street Zen downgraded shares of Genworth Financial from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Keefe, Bruyette & Woods lifted their price objective on shares of Genworth Financial from $9.00 to $9.50 and gave the stock an "outperform" rating in a report on Wednesday, July 9th.

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.