American Century Companies Inc. Purchases 836,192 Shares of Genworth Financial, Inc. $GNW

Key Points

• American Century Companies Inc. increased its ownership of Genworth Financial by 11.6%, bringing its total to approximately 8 million shares valued at $57 million as of the end of the first quarter.
• Several other institutional investors also boosted their positions in Genworth Financial, with Byrne Asset Management LLC increasing its stake by 69.5% during the same period.
• Genworth Financial reported $0.16 earnings per share for the last quarter, exceeding analyst expectations of $0.05, and had a revenue of $1.80 billion.

American Century Companies Inc. grew its holdings in Genworth Financial, Inc. (NYSE:GNW - Free Report) by 11.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,056,534 shares of the financial services provider's stock after purchasing an additional 836,192 shares during the quarter. American Century Companies Inc. owned about 1.94% of Genworth Financial worth $57,121,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Fox Run Management L.L.C. acquired a new stake in shares of Genworth Financial in the first quarter valued at about $336,000. HighTower Advisors LLC grew its position in shares of Genworth Financial by 20.0% in the first quarter. HighTower Advisors LLC now owns 21,111 shares of the financial services provider's stock valued at $150,000 after purchasing an additional 3,521 shares during the last quarter. Public Sector Pension Investment Board grew its position in Genworth Financial by 27.3% during the first quarter. Public Sector Pension Investment Board now owns 1,354,197 shares of the financial services provider's stock worth $9,601,000 after buying an additional 290,286 shares in the last quarter. Alta Fundamental Advisers LLC grew its position in Genworth Financial by 38.3% during the first quarter. Alta Fundamental Advisers LLC now owns 531,080 shares of the financial services provider's stock worth $3,765,000 after buying an additional 147,080 shares in the last quarter. Finally, Donald Smith & CO. Inc. grew its position in Genworth Financial by 4.5% during the first quarter. Donald Smith & CO. Inc. now owns 27,114,581 shares of the financial services provider's stock worth $192,242,000 after buying an additional 1,165,112 shares in the last quarter. 81.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on GNW. Wall Street Zen downgraded Genworth Financial from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Keefe, Bruyette & Woods lifted their target price on Genworth Financial from $9.00 to $9.50 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $9.50.

Genworth Financial Price Performance

GNW traded down $0.04 during midday trading on Monday, reaching $8.64. 3,353,066 shares of the company's stock were exchanged, compared to its average volume of 6,313,830. The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of 19.20 and a beta of 1.12. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.16. Genworth Financial, Inc. has a one year low of $5.99 and a one year high of $8.73. The business has a 50-day simple moving average of $7.88 and a two-hundred day simple moving average of $7.22.

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

Genworth Financial 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.