Genworth Financial, Inc. $GNW Position Raised by AQR Capital Management LLC

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 stake in shares of Genworth Financial, Inc. (NYSE:GNW - Free Report) by 31.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 898,358 shares of the financial services provider's stock after buying an additional 214,402 shares during the quarter. AQR Capital Management LLC owned 0.22% of Genworth Financial worth $6,320,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Perbak Capital Partners LLP acquired a new stake in Genworth Financial during the first quarter worth approximately $95,000. Cubist Systematic Strategies LLC increased its stake in Genworth Financial by 56.8% in the 1st quarter. Cubist Systematic Strategies LLC now owns 1,765,607 shares of the financial services provider's stock valued at $12,518,000 after buying an additional 639,676 shares during the period. Royal Bank of Canada boosted its position in shares of Genworth Financial by 75.8% during the 1st quarter. Royal Bank of Canada now owns 118,058 shares of the financial services provider's stock worth $837,000 after purchasing an additional 50,911 shares in the last quarter. DRW Securities LLC purchased a new stake in shares of Genworth Financial during the 1st quarter worth $184,000. Finally, Bracebridge Capital LLC boosted its position in shares of Genworth Financial by 12.6% during the 1st quarter. Bracebridge Capital LLC now owns 1,969,200 shares of the financial services provider's stock worth $13,962,000 after purchasing an additional 220,000 shares in the last quarter. Hedge funds and other institutional investors own 81.85% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on GNW shares. Keefe, Bruyette & Woods boosted their target price on shares of Genworth Financial from $9.00 to $9.50 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Wall Street Zen downgraded Genworth Financial from a "hold" rating to a "sell" rating in a research note on Sunday, September 7th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $9.50.

Genworth Financial Price Performance

Shares of Genworth Financial stock traded up $0.13 on Thursday, hitting $8.71. The company's stock had a trading volume of 4,242,740 shares, compared to its average volume of 3,645,022. Genworth Financial, Inc. has a 52-week low of $5.99 and a 52-week high of $8.85. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.16. The firm has a fifty day moving average price of $8.21 and a 200-day moving average price of $7.42. The company has a market capitalization of $3.57 billion, a P/E ratio of 19.36 and a beta of 0.94.

Genworth Financial (NYSE:GNW - Get Free Report) last released its earnings results 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. The company had revenue of $1.80 billion for the quarter. Genworth Financial had a net margin of 2.61% and a return on equity of 1.91%.

Insider Transactions at Genworth Financial

In related news, CEO Rohit Gupta sold 86,406 shares of the stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $8.68, for a total transaction of $750,004.08. Following the completion of the sale, the chief executive officer owned 794,630 shares of the company's stock, valued at approximately $6,897,388.40. This represents a 9.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.80% of the company's stock.

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.