Comerica Bank Has $5.32 Million Stake in Genworth Financial, Inc. $GNW

Key Points

• Comerica Bank increased its stake in Genworth by 72.4% in Q4 to 589,535 shares, valued at about $5.32 million and representing roughly 0.15% of the company.
• Genworth reported Q4 EPS of $0.02, missing estimates of $0.16 on revenue of $1.04 billion; the stock recently traded near $8.82 with a market cap around $3.41 billion.
• Analyst sentiment is mixed, but MarketBeat shows a consensus rating of Moderate Buy with a consensus price target of $10.50.

Comerica Bank lifted its position in shares of Genworth Financial, Inc. (NYSE:GNW - Free Report) by 72.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 589,535 shares of the financial services provider's stock after purchasing an additional 247,601 shares during the quarter. Comerica Bank owned 0.15% of Genworth Financial worth $5,324,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Salomon & Ludwin LLC raised its position in shares of Genworth Financial by 1,731.8% during the third quarter. Salomon & Ludwin LLC now owns 3,279 shares of the financial services provider's stock worth $29,000 after purchasing an additional 3,100 shares during the period. Bessemer Group Inc. raised its position in shares of Genworth Financial by 60.6% during the third quarter. Bessemer Group Inc. now owns 3,830 shares of the financial services provider's stock worth $34,000 after purchasing an additional 1,445 shares during the period. Headlands Technologies LLC acquired a new position in shares of Genworth Financial during the second quarter worth approximately $44,000. Larson Financial Group LLC raised its position in shares of Genworth Financial by 12,597.7% during the third quarter. Larson Financial Group LLC now owns 5,587 shares of the financial services provider's stock worth $50,000 after purchasing an additional 5,543 shares during the period. Finally, Danske Bank A S acquired a new position in shares of Genworth Financial during the third quarter worth approximately $60,000. 81.85% of the stock is owned by institutional investors and hedge funds.

Genworth Financial Stock Up 0.3%

Shares of NYSE:GNW opened at $8.82 on Friday. The company has a market capitalization of $3.41 billion, a PE ratio of 16.63 and a beta of 0.89. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.29 and a quick ratio of 0.29. The business has a fifty day moving average price of $8.46 and a two-hundred day moving average price of $8.61. Genworth Financial, Inc. has a 1 year low of $6.63 and a 1 year high of $9.28.

Genworth Financial (NYSE:GNW - Get Free Report) last announced its quarterly earnings data on Monday, February 23rd. The financial services provider reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.16 by ($0.14). The business had revenue of $1.04 billion during the quarter. Genworth Financial had a net margin of 3.05% and a return on equity of 1.48%.

Wall Street Analysts Forecast Growth

GNW has been the topic of a number of research reports. Keefe, Bruyette & Woods reaffirmed a "moderate buy" rating and set a $10.50 target price on shares of Genworth Financial in a research report on Thursday, March 26th. Wall Street Zen downgraded Genworth Financial from a "hold" rating to a "sell" rating in a report on Saturday, February 28th. Finally, Weiss Ratings upgraded Genworth Financial from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $10.50.

About Genworth Financial

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.

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