Genworth Financial, Inc. $GNW Position Boosted by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC increased its stake in Genworth Financial by 7.6%, acquiring a total of 427,993 shares worth approximately $3,034,000.
• Genworth Financial reported earnings of $0.16 per share for the quarter, significantly surpassing analysts' expectations of $0.05 by $0.11.
• Institutional investors and hedge funds now own 81.85% of Genworth Financial's stock, reflecting considerable interest from the investment community.

Intech Investment Management LLC lifted its position in Genworth Financial, Inc. (NYSE:GNW - Free Report) by 7.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 427,993 shares of the financial services provider's stock after buying an additional 30,260 shares during the quarter. Intech Investment Management LLC owned about 0.10% of Genworth Financial worth $3,034,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GNW. Nuveen LLC acquired a new stake in Genworth Financial in the 1st quarter worth approximately $24,661,000. Nuveen Asset Management LLC raised its stake in Genworth Financial by 106.9% during the fourth quarter. Nuveen Asset Management LLC now owns 2,663,077 shares of the financial services provider's stock worth $18,615,000 after acquiring an additional 1,375,637 shares in the last quarter. Donald Smith & CO. Inc. raised its stake in Genworth Financial by 4.5% during the first quarter. Donald Smith & CO. Inc. now owns 27,114,581 shares of the financial services provider's stock worth $192,242,000 after acquiring an additional 1,165,112 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Genworth Financial by 11.6% in the first quarter. American Century Companies Inc. now owns 8,056,534 shares of the financial services provider's stock valued at $57,121,000 after buying an additional 836,192 shares in the last quarter. Finally, Trexquant Investment LP increased its stake in shares of Genworth Financial by 162.4% in the first quarter. Trexquant Investment LP now owns 1,330,661 shares of the financial services provider's stock valued at $9,434,000 after buying an additional 823,470 shares in the last quarter. 81.85% of the stock is currently owned by institutional investors and hedge funds.

Genworth Financial Stock Performance

NYSE:GNW opened at $8.80 on Monday. The stock has a fifty day moving average price of $8.13 and a 200-day moving average price of $7.38. The company has a market cap of $3.61 billion, a price-to-earnings ratio of 19.56 and a beta of 0.94. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.29 and a current ratio of 0.29. Genworth Financial, Inc. has a fifty-two week low of $5.99 and a fifty-two week high of $8.85.

Genworth Financial (NYSE:GNW - Get Free Report) last released its 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 return on equity of 1.91% and a net margin of 2.61%.The firm had revenue of $1.80 billion during the quarter.

Analysts Set New Price Targets

A number of brokerages recently commented on GNW. Wall Street Zen lowered Genworth Financial from a "hold" rating to a "sell" rating in a research report on Sunday, September 7th. Keefe, Bruyette & Woods boosted their target price on Genworth Financial from $9.00 to $9.50 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, Genworth Financial has an average rating of "Buy" and a consensus price target of $9.50.

Insider Buying and Selling

In other Genworth Financial news, CEO Rohit Gupta sold 86,406 shares of the stock in a transaction dated Wednesday, August 27th. The stock was 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 trade represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate 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.

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