Clare Market Investments LLC Invests $521,000 in Genworth Financial, Inc. $GNW

Key Points

• Clare Market Investments LLC has acquired a new stake in Genworth Financial, Inc. worth approximately $521,000 by purchasing 66,918 shares in the 2nd quarter.
• Multiple institutional investors have increased their holdings in Genworth Financial, contributing to a total of 81.85% of the company's stock being owned by such investors.
• Genworth Financial's stock has a consensus rating of "Buy" with an average price target of $9.50, following various analyst upgrades and downgrades.

Clare Market Investments LLC purchased a new position in Genworth Financial, Inc. (NYSE:GNW - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 66,918 shares of the financial services provider's stock, valued at approximately $521,000.

A number of other institutional investors and hedge funds have also modified their holdings of GNW. Nuveen LLC acquired a new stake in shares of Genworth Financial in the 1st quarter worth approximately $24,661,000. Nuveen Asset Management LLC grew its holdings in Genworth Financial by 106.9% during the 4th quarter. Nuveen Asset Management LLC now owns 2,663,077 shares of the financial services provider's stock valued at $18,615,000 after buying an additional 1,375,637 shares during the last quarter. Donald Smith & CO. Inc. grew its holdings in Genworth Financial by 4.5% during the 1st quarter. Donald Smith & CO. Inc. now owns 27,114,581 shares of the financial services provider's stock valued at $192,242,000 after buying an additional 1,165,112 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Genworth Financial by 11.6% during the 1st quarter. American Century Companies Inc. now owns 8,056,534 shares of the financial services provider's stock worth $57,121,000 after purchasing an additional 836,192 shares during the period. Finally, Trexquant Investment LP lifted its stake in shares of Genworth Financial by 162.4% during the 1st quarter. Trexquant Investment LP now owns 1,330,661 shares of the financial services provider's stock worth $9,434,000 after purchasing an additional 823,470 shares during the period. Institutional investors and hedge funds own 81.85% of the company's stock.

Analyst Upgrades and Downgrades

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

Genworth Financial Price Performance

Genworth Financial stock traded up $0.01 during mid-day trading on Tuesday, hitting $9.04. The company's stock had a trading volume of 1,041,883 shares, compared to its average volume of 5,976,505. 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 stock has a market capitalization of $3.71 billion, a P/E ratio of 20.08 and a beta of 0.94. Genworth Financial, Inc. has a twelve month low of $5.99 and a twelve month high of $9.07. The stock's fifty day moving average price is $8.27 and its two-hundred day moving average price is $7.46.

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

Insider Activity

In related news, CEO Rohit Gupta sold 86,406 shares of Genworth Financial stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $8.68, for a total value 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. The trade was a 9.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.