Allianz Asset Management GmbH Buys 46,339 Shares of Genworth Financial, Inc. (NYSE:GNW)

Key Points

• Allianz Asset Management GmbH increased its stake in Genworth Financial by 3.0%, owning approximately 1.6 million shares worth $11.35 million as of the latest SEC filing.
• Several hedge funds have recently shown increased interest in Genworth Financial, with Byrne Asset Management LLC boosting its position by 69.5% in the same quarter.
• Wall Street analysts have mixed views on Genworth Financial, with Keefe, Bruyette & Woods raising their price target to $9.50 while a different firm downgraded the stock from "hold" to "sell."

Allianz Asset Management GmbH grew its holdings in Genworth Financial, Inc. (NYSE:GNW - Free Report) by 3.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,600,694 shares of the financial services provider's stock after purchasing an additional 46,339 shares during the period. Allianz Asset Management GmbH owned approximately 0.38% of Genworth Financial worth $11,349,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Byrne Asset Management LLC lifted its holdings in shares of Genworth Financial by 69.5% in the first quarter. Byrne Asset Management LLC now owns 7,595 shares of the financial services provider's stock worth $54,000 after acquiring an additional 3,115 shares during the last quarter. Pennington Partners & CO. LLC bought a new position in shares of Genworth Financial in the fourth quarter worth about $84,000. Landscape Capital Management L.L.C. bought a new position in shares of Genworth Financial in the fourth quarter worth about $85,000. Mercer Global Advisors Inc. ADV bought a new position in shares of Genworth Financial in the fourth quarter worth about $86,000. Finally, GTS Securities LLC bought a new position in shares of Genworth Financial in the fourth quarter worth about $93,000. Institutional investors own 81.85% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on GNW. Keefe, Bruyette & Woods increased their target price 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. Wall Street Zen cut shares of Genworth Financial from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd.

Genworth Financial Trading Down 0.6%

Shares of Genworth Financial stock traded down $0.05 on Wednesday, hitting $7.95. The stock had a trading volume of 7,185,606 shares, compared to its average volume of 5,942,371. The stock has a 50 day moving average of $7.40 and a 200 day moving average of $7.07. Genworth Financial, Inc. has a twelve month low of $5.99 and a twelve month high of $8.28. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market capitalization of $3.29 billion, a P/E ratio of 15.90 and a beta of 1.06.

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 the consensus estimate of $0.05 by $0.11. Genworth Financial had a return on equity of 2.53% and a net margin of 2.97%.

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.