Genworth Financial, Inc. $GNW Shares Acquired by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Genworth Financial, purchasing an additional 74,123 shares, now holding approximately 5.27 million shares valued at $37.36 million.
• Genworth Financial's stock experienced a 0.6% increase and is trading at $8.38, with a fifty-two week range between $5.99 and $8.60.
• The company reported earnings per share of $0.16, surpassing analysts' expectations of $0.05, with a revenue of $1.80 billion for the quarter.

Charles Schwab Investment Management Inc. increased its holdings in Genworth Financial, Inc. (NYSE:GNW - Free Report) by 1.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,269,135 shares of the financial services provider's stock after purchasing an additional 74,123 shares during the period. Charles Schwab Investment Management Inc. owned 1.27% of Genworth Financial worth $37,358,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Blueshift Asset Management LLC purchased a new stake in shares of Genworth Financial in the first quarter valued at $71,000. HB Wealth Management LLC acquired a new position in Genworth Financial in the first quarter valued at $130,000. Abel Hall LLC acquired a new position in Genworth Financial in the first quarter valued at $71,000. KLP Kapitalforvaltning AS boosted its holdings in Genworth Financial by 33.4% in the first quarter. KLP Kapitalforvaltning AS now owns 119,800 shares of the financial services provider's stock valued at $849,000 after acquiring an additional 30,000 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in Genworth Financial by 3.0% in the first quarter. Allianz Asset Management GmbH now owns 1,600,694 shares of the financial services provider's stock valued at $11,349,000 after acquiring an additional 46,339 shares during the last quarter. Hedge funds and other institutional investors own 81.85% of the company's stock.

Wall Street Analysts Forecast Growth

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

Genworth Financial Stock Up 3.3%

Shares of GNW traded up $0.2750 during midday trading on Friday, reaching $8.6850. 5,467,703 shares of the company were exchanged, compared to its average volume of 6,544,659. The stock has a 50-day moving average price of $7.86 and a 200-day moving average price of $7.21. The company has a market cap of $3.56 billion, a price-to-earnings ratio of 19.30 and a beta of 1.12. Genworth Financial, Inc. has a 1-year low of $5.99 and a 1-year high of $8.72. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.16.

Genworth Financial (NYSE:GNW - Get Free Report) last issued its quarterly earnings data 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 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%.

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.