Bank of America Corp DE increased its stake in shares of Genworth Financial, Inc. (NYSE:GNW - Free Report) by 133.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,158,625 shares of the financial services provider's stock after purchasing an additional 1,232,931 shares during the quarter. Bank of America Corp DE owned approximately 0.56% of Genworth Financial worth $17,528,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently added to or reduced their stakes in GNW. Nuveen LLC raised its holdings in Genworth Financial by 2.3% in the 4th quarter. Nuveen LLC now owns 9,781,111 shares of the financial services provider's stock valued at $88,323,000 after acquiring an additional 223,279 shares during the last quarter. Gendell Jeffrey L lifted its position in Genworth Financial by 168.0% during the fourth quarter. Gendell Jeffrey L now owns 6,485,888 shares of the financial services provider's stock worth $58,568,000 after buying an additional 4,065,684 shares during the period. Norges Bank purchased a new position in Genworth Financial during the fourth quarter worth about $45,912,000. Invesco Ltd. boosted its stake in Genworth Financial by 41.0% in the 2nd quarter. Invesco Ltd. now owns 4,291,220 shares of the financial services provider's stock worth $33,386,000 after buying an additional 1,248,374 shares during the last quarter. Finally, UBS Group AG boosted its stake in Genworth Financial by 621.2% in the 4th quarter. UBS Group AG now owns 3,598,588 shares of the financial services provider's stock worth $32,495,000 after buying an additional 3,099,582 shares during the last quarter. Institutional investors and hedge funds own 81.85% of the company's stock.
Genworth Financial Price Performance
Shares of GNW stock opened at $9.94 on Thursday. The firm has a fifty day simple moving average of $9.61 and a 200-day simple moving average of $8.99. The company has a market capitalization of $3.75 billion, a PE ratio of 19.11 and a beta of 0.87. Genworth Financial, Inc. has a twelve month low of $7.84 and a twelve month high of $10.28. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.15.
Genworth Financial (NYSE:GNW - Get Free Report) last announced its earnings results on Wednesday, August 5th. The financial services provider reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.01. Genworth Financial had a return on equity of 1.06% and a net margin of 2.87%.The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.90 billion. Equities research analysts anticipate that Genworth Financial, Inc. will post 1.1 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on GNW. Zacks Research upgraded shares of Genworth Financial to a "hold" rating in a report on Wednesday, May 27th. Wall Street Zen upgraded shares of Genworth Financial from a "sell" rating to a "hold" rating in a report on Sunday, July 12th. Weiss Ratings raised shares of Genworth Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, August 5th. Finally, Keefe, Bruyette & Woods raised shares of Genworth Financial from a "moderate buy" rating to a "strong-buy" rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $12.00.
Get Our Latest Report on GNW
Insider Activity at Genworth Financial
In other news, CEO Thomas J. Mcinerney sold 100,000 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $9.27, for a total transaction of $927,000.00. Following the completion of the sale, the chief executive officer owned 5,368,883 shares of the company's stock, valued at approximately $49,769,545.41. This trade represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert P. Restrepo, Jr. sold 50,000 shares of the business's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $9.12, for a total transaction of $456,000.00. Following the completion of the sale, the director directly owned 92,655 shares of the company's stock, valued at $845,013.60. The trade was a 35.05% decrease in their position. The SEC filing for this sale provides additional information. 1.80% of the stock is owned by insiders.
Genworth Financial Profile
(
Free Report)
Genworth Financial NYSE: GNW is a leading financial security company offering a broad range of insurance products. Based in Richmond, Virginia, Genworth provides individuals and families with solutions designed to protect against long-term care expenses, secure life insurance needs and support homeownership through private mortgage insurance. With operations spanning the United States, Canada and Australia, the company serves both retail and institutional clients through a diversified portfolio of risk management services.
The company's Private Mortgage Insurance (PMI) segment offers coverage to lenders and consumers in the US, Canada and Australia, enabling homebuyers to purchase properties with lower down payments.
Further Reading
Want to see what other hedge funds are holding GNW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Genworth Financial, Inc. (NYSE:GNW - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Genworth Financial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Genworth Financial wasn't on the list.
While Genworth Financial currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of the 7 hottest IPOs expected to hit Wall Street in 2026. See which companies are preparing to go public and why investors are watching closely.
Get This Free Report
