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 bought a new position in Genworth Financial, Inc. (NYSE:GNW - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 66,918 shares of the financial services provider's stock, valued at approximately $521,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Xponance Inc. grew its position in Genworth Financial by 4.8% in the first quarter. Xponance Inc. now owns 32,525 shares of the financial services provider's stock valued at $231,000 after acquiring an additional 1,493 shares in the last quarter. Forum Financial Management LP raised its holdings in Genworth Financial by 12.6% in the 4th quarter. Forum Financial Management LP now owns 23,131 shares of the financial services provider's stock valued at $162,000 after acquiring an additional 2,584 shares in the last quarter. Byrne Asset Management LLC grew its position in Genworth Financial by 69.5% during the 1st quarter. Byrne Asset Management LLC now owns 7,595 shares of the financial services provider's stock worth $54,000 after acquiring an additional 3,115 shares during the last quarter. HighTower Advisors LLC lifted its stake in shares of Genworth Financial by 20.0% in the 1st quarter. HighTower Advisors LLC now owns 21,111 shares of the financial services provider's stock valued at $150,000 after purchasing an additional 3,521 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Genworth Financial by 2.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 252,152 shares of the financial services provider's stock worth $1,788,000 after acquiring an additional 7,106 shares during the last quarter. Institutional investors own 81.85% of the company's stock.

Analyst Upgrades and Downgrades

GNW has been the subject of a number of 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 boosted their price target 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.com, Genworth Financial has an average rating of "Buy" and a consensus price target of $9.50.

Genworth Financial Trading Up 3.6%

Genworth Financial stock traded up $0.31 during trading hours on Friday, reaching $9.01. The stock had a trading volume of 11,650,249 shares, compared to its average volume of 3,687,466. Genworth Financial, Inc. has a 52 week low of $5.99 and a 52 week high of $9.06. 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 fifty day simple moving average of $8.24 and a 200-day simple moving average of $7.44. The stock has a market cap of $3.70 billion, a PE ratio of 20.02 and a beta of 0.94.

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

Insider Transactions at Genworth Financial

In other news, CEO Rohit Gupta sold 86,406 shares of the firm's 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 in the company, valued at approximately $6,897,388.40. This trade represents a 9.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is owned by corporate insiders.

Genworth Financial 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.