Charles Schwab Investment Management Inc. Has $37.36 Million Holdings in Genworth Financial, Inc. $GNW

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. grew 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 fund owned 5,269,135 shares of the financial services provider's stock after buying an additional 74,123 shares during the period. Charles Schwab Investment Management Inc. owned 1.27% of Genworth Financial worth $37,358,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Xponance Inc. lifted its holdings 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 purchasing an additional 1,493 shares during the last quarter. NDVR Inc. lifted its holdings in Genworth Financial by 8.6% during the 4th quarter. NDVR Inc. now owns 24,329 shares of the financial services provider's stock valued at $170,000 after purchasing an additional 1,922 shares during the last quarter. Summit Investment Advisors Inc. lifted its stake in shares of Genworth Financial by 5.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 45,038 shares of the financial services provider's stock worth $315,000 after buying an additional 2,329 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Genworth Financial by 13.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 19,861 shares of the financial services provider's stock worth $139,000 after buying an additional 2,343 shares during the last quarter. Finally, Mariner LLC lifted its stake in shares of Genworth Financial by 3.8% during the 4th quarter. Mariner LLC now owns 68,689 shares of the financial services provider's stock worth $480,000 after buying an additional 2,514 shares during the last quarter. 81.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GNW. Wall Street Zen downgraded shares of Genworth Financial from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Keefe, Bruyette & Woods raised their price objective 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. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $9.50.

Genworth Financial Stock Performance

Genworth Financial stock traded up $0.2750 during midday trading on Friday, hitting $8.6850. The company's stock had a trading volume of 5,467,703 shares, compared to its average volume of 6,544,659. Genworth Financial, Inc. has a 1-year low of $5.99 and a 1-year high of $8.72. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.29 and a quick ratio of 0.29. The company has a 50-day moving average price of $7.86 and a two-hundred day moving average price of $7.22. 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 (NYSE:GNW - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.05 by $0.11. Genworth Financial had a net margin of 2.61% and a return on equity of 1.91%. The company had revenue of $1.80 billion during the quarter.

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.