Intech Investment Management LLC Has $3.03 Million Holdings in Genworth Financial, Inc. $GNW

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 grew its holdings in shares of Genworth Financial, Inc. (NYSE:GNW - Free Report) by 7.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (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 approximately 0.10% of Genworth Financial worth $3,034,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GNW. Mercer Global Advisors Inc. ADV bought a new stake in Genworth Financial during the 4th quarter worth about $86,000. Deutsche Bank AG lifted its position in Genworth Financial by 34.1% during the 4th quarter. Deutsche Bank AG now owns 430,853 shares of the financial services provider's stock worth $3,012,000 after buying an additional 109,570 shares in the last quarter. Jefferies Financial Group Inc. lifted its position in Genworth Financial by 47.0% during the 4th quarter. Jefferies Financial Group Inc. now owns 29,127 shares of the financial services provider's stock worth $204,000 after buying an additional 9,306 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Genworth Financial by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 245,046 shares of the financial services provider's stock worth $1,713,000 after buying an additional 9,378 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new stake in Genworth Financial during the 4th quarter worth about $347,000. 81.85% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Rohit Gupta sold 86,406 shares of the company's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $8.68, for a total value of $750,004.08. Following the transaction, the chief executive officer owned 794,630 shares in the company, valued at approximately $6,897,388.40. This represents a 9.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.80% of the company's stock.

Analysts Set New Price Targets

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

Genworth Financial Stock Performance

Shares of Genworth Financial stock traded up $0.31 during trading on Friday, hitting $9.01. 11,650,249 shares of the stock were exchanged, compared to its average volume of 3,687,466. Genworth Financial, Inc. has a 1-year low of $5.99 and a 1-year high of $9.06. The stock has a market capitalization of $3.70 billion, a price-to-earnings ratio of 20.02 and a beta of 0.94. The company has a fifty day moving average price of $8.24 and a 200-day moving average price of $7.44. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.16.

Genworth Financial (NYSE:GNW - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $0.11. Genworth Financial had a net margin of 2.61% and a return on equity of 1.91%. The business had revenue of $1.80 billion for the quarter.

Genworth Financial Company 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.