Genworth Financial, Inc. $GNW Shares Acquired by UBS Group AG

Key Points

• UBS Group AG boosted its stake in Genworth Financial by 621.2% in the fourth quarter, ending with 3,598,588 shares valued at about $32.5 million.
• Genworth Financial reported Q1 earnings of $0.28 per share, beating analyst expectations of $0.18, though revenue came in well below forecasts at $1.04 billion vs. $1.72 billion expected.
• Shares of GNW were trading near their 52-week high at $9.14, and Wall Street currently holds a Moderate Buy consensus with a $10.50 target price.

UBS Group AG increased its position in Genworth Financial, Inc. (NYSE:GNW - Free Report) by 621.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,598,588 shares of the financial services provider's stock after acquiring an additional 3,099,582 shares during the period. UBS Group AG owned approximately 0.90% of Genworth Financial worth $32,495,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Bessemer Group Inc. grew its holdings in shares of Genworth Financial by 60.6% in the 3rd quarter. Bessemer Group Inc. now owns 3,830 shares of the financial services provider's stock worth $34,000 after acquiring an additional 1,445 shares during the period. Larson Financial Group LLC grew its holdings in shares of Genworth Financial by 12,597.7% in the 3rd quarter. Larson Financial Group LLC now owns 5,587 shares of the financial services provider's stock worth $50,000 after acquiring an additional 5,543 shares during the period. Headlands Technologies LLC acquired a new stake in Genworth Financial during the 2nd quarter valued at $44,000. Danske Bank A S acquired a new stake in Genworth Financial during the 3rd quarter valued at $60,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Genworth Financial by 140.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,063 shares of the financial services provider's stock valued at $63,000 after buying an additional 4,708 shares during the last quarter. Institutional investors and hedge funds own 81.85% of the company's stock.

Genworth Financial Price Performance

Shares of NYSE:GNW opened at $9.14 on Friday. The business's fifty day moving average price is $8.49 and its two-hundred day moving average price is $8.62. The stock has a market cap of $3.50 billion, a PE ratio of 17.57 and a beta of 0.89. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.29 and a current ratio of 0.29. Genworth Financial, Inc. has a one year low of $6.63 and a one year high of $9.45.

Genworth Financial (NYSE:GNW - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.10. Genworth Financial had a return on equity of 1.73% and a net margin of 2.96%.The business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.72 billion.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods reiterated a "moderate buy" rating and set a $10.50 target price on shares of Genworth Financial in a report on Thursday, March 26th. Weiss Ratings upgraded Genworth Financial from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, April 29th. Finally, Wall Street Zen upgraded Genworth Financial from a "sell" rating to a "hold" rating in a report on Saturday. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price 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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