Genworth Financial, Inc. $GNW is Bracebridge Capital LLC's 4th Largest Position

Key Points

• Bracebridge Capital LLC increased its stake in Genworth Financial by 12.6%, making it the firm's 4th largest position with roughly 0.9% of their total holdings.
• Genworth Financial's shares opened at $8.58 and recently reported earnings of $0.16 per share, exceeding analysts' expectations of $0.05.
• Analysts are optimistic about Genworth Financial, with an average rating of "Buy" and a consensus price target raised to $9.50.

Bracebridge Capital LLC boosted its stake in Genworth Financial, Inc. (NYSE:GNW - Free Report) by 12.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,969,200 shares of the financial services provider's stock after purchasing an additional 220,000 shares during the quarter. Genworth Financial comprises 0.9% of Bracebridge Capital LLC's portfolio, making the stock its 4th largest position. Bracebridge Capital LLC owned about 0.48% of Genworth Financial worth $13,962,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Byrne Asset Management LLC boosted its holdings in shares of Genworth Financial by 69.5% in the 1st quarter. Byrne Asset Management LLC now owns 7,595 shares of the financial services provider's stock valued at $54,000 after purchasing an additional 3,115 shares during the last quarter. Abel Hall LLC purchased a new position in shares of Genworth Financial in the 1st quarter worth $71,000. Blueshift Asset Management LLC acquired a new position in Genworth Financial in the first quarter valued at $71,000. Pennington Partners & CO. LLC purchased a new stake in Genworth Financial during the fourth quarter valued at about $84,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in Genworth Financial during the fourth quarter valued at about $86,000. Hedge funds and other institutional investors own 81.85% of the company's stock.

Insider Activity at Genworth Financial

In other news, CEO Rohit Gupta sold 86,406 shares of the company'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 transaction, the chief executive officer directly owned 794,630 shares in the company, valued at approximately $6,897,388.40. This represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.80% of the company's stock.

Genworth Financial Stock Down 0.1%

Shares of GNW traded down $0.01 during midday trading on Monday, reaching $8.58. 2,956,413 shares of the company were exchanged, compared to its average volume of 4,832,956. Genworth Financial, Inc. has a 1-year low of $5.99 and a 1-year high of $8.74. The stock has a 50-day moving average price of $7.98 and a 200-day moving average price of $7.27. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.16. The company has a market cap of $3.52 billion, a price-to-earnings ratio of 19.06 and a beta of 0.94.

Genworth Financial (NYSE:GNW - Get Free Report) last announced its earnings results on Wednesday, July 30th. The financial services provider reported $0.16 EPS for the quarter, beating the consensus estimate of $0.05 by $0.11. The business 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%.

Analyst Ratings Changes

A number of equities analysts have recently commented on GNW shares. Wall Street Zen upgraded Genworth Financial from a "sell" rating to a "hold" rating in a report on Saturday. Keefe, Bruyette & Woods raised their price target on shares of Genworth Financial from $9.00 to $9.50 and gave the company an "outperform" rating in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $9.50.

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.