AQR Capital Management LLC Grows Stock Position in Genworth Financial, Inc. $GNW

Key Points

• AQR Capital Management LLC increased its stake in Genworth Financial by 31.3%, acquiring an additional 214,402 shares, bringing its total to 898,358 shares valued at approximately $6.32 million.
• Recent earnings results for Genworth Financial showed an EPS of $0.16, surpassing estimates by $0.11, with a total revenue of $1.80 billion for the quarter.
• The stock has seen heightened institutional interest, with institutions now holding approximately 81.85% of Genworth Financial's stock, signaling confidence in the company's future.

AQR Capital Management LLC boosted its holdings in shares of Genworth Financial, Inc. (NYSE:GNW - Free Report) by 31.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 898,358 shares of the financial services provider's stock after buying an additional 214,402 shares during the period. AQR Capital Management LLC owned approximately 0.22% of Genworth Financial worth $6,320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Xponance Inc. increased its position in Genworth Financial by 4.8% during the 1st quarter. Xponance Inc. now owns 32,525 shares of the financial services provider's stock valued at $231,000 after buying an additional 1,493 shares in the last quarter. Forum Financial Management LP increased its holdings in shares of Genworth Financial by 12.6% in the fourth quarter. Forum Financial Management LP now owns 23,131 shares of the financial services provider's stock valued at $162,000 after purchasing an additional 2,584 shares during the period. Byrne Asset Management LLC increased 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 valued at $54,000 after purchasing an additional 3,115 shares during the period. HighTower Advisors LLC increased its holdings 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 period. Finally, Jefferies Financial Group Inc. increased its holdings in shares of Genworth Financial by 47.0% in the fourth quarter. Jefferies Financial Group Inc. now owns 29,127 shares of the financial services provider's stock valued at $204,000 after purchasing an additional 9,306 shares during the period. 81.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GNW has been the topic of a number of research reports. Wall Street Zen lowered Genworth Financial from a "hold" rating to a "sell" rating in a report on Sunday, September 7th. Keefe, Bruyette & Woods upped their target price on Genworth Financial from $9.00 to $9.50 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $9.50.

Insider Buying and Selling at Genworth Financial

In other news, CEO Rohit Gupta sold 86,406 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $8.68, for a total value of $750,004.08. Following the transaction, the chief executive officer owned 794,630 shares in the company, valued at $6,897,388.40. This trade represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.80% of the stock is currently owned by company insiders.

Genworth Financial Price Performance

GNW stock traded down $0.11 during mid-day trading on Monday, reaching $8.69. 3,392,109 shares of the company's stock were exchanged, compared to its average volume of 3,567,527. The company has a market cap of $3.57 billion, a price-to-earnings ratio of 19.31 and a beta of 0.94. The stock's 50 day moving average is $8.15 and its 200 day moving average is $7.39. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.29 and a quick ratio of 0.29. Genworth Financial, Inc. has a 12-month low of $5.99 and a 12-month high of $8.85.

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

About Genworth Financial

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.