Genworth Financial, Inc. $GNW Shares Purchased by OMERS ADMINISTRATION Corp

Key Points

• OMERS ADMINISTRATION Corp increased its stake in Genworth Financial by 609.1%, owning 352,400 shares worth approximately $2.5 million following the purchase of an additional 302,700 shares.
• Genworth Financial's recent quarterly earnings report revealed an EPS of $0.16, exceeding the consensus estimate of $0.05, while the company's revenue for the quarter was $1.80 billion.
• Analysts have upgraded Genworth Financial's rating from "sell" to "hold" and raised its target price to $9.50, indicating positive outlook from market research firms.

OMERS ADMINISTRATION Corp increased its stake in shares of Genworth Financial, Inc. (NYSE:GNW - Free Report) by 609.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 352,400 shares of the financial services provider's stock after buying an additional 302,700 shares during the period. OMERS ADMINISTRATION Corp owned about 0.09% of Genworth Financial worth $2,499,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. increased its holdings in Genworth Financial by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 2,126,240 shares of the financial services provider's stock valued at $15,075,000 after acquiring an additional 55,085 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Genworth Financial by 494.7% during the 1st quarter. GAMMA Investing LLC now owns 64,455 shares of the financial services provider's stock worth $457,000 after purchasing an additional 53,617 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in Genworth Financial by 56.0% in the 1st quarter. Handelsbanken Fonder AB now owns 112,490 shares of the financial services provider's stock valued at $798,000 after buying an additional 40,400 shares in the last quarter. Deutsche Bank AG grew its holdings 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 valued at $3,012,000 after buying an additional 109,570 shares during the last quarter. Finally, Cerity Partners LLC increased its position in Genworth Financial by 136.3% during the first quarter. Cerity Partners LLC now owns 47,681 shares of the financial services provider's stock worth $338,000 after buying an additional 27,501 shares in the last quarter. Hedge funds and other institutional investors own 81.85% of the company's stock.

Analysts Set New Price Targets

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

Genworth Financial Trading Down 1.3%

GNW stock traded down $0.12 during midday trading on Tuesday, reaching $8.46. 3,769,812 shares of the company's stock traded hands, compared to its average volume of 6,128,514. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.29 and a quick ratio of 0.29. Genworth Financial, Inc. has a fifty-two week low of $5.99 and a fifty-two week high of $8.74. The business has a 50-day moving average price of $7.98 and a two-hundred day moving average price of $7.27. The company has a market capitalization of $3.47 billion, a P/E ratio of 18.79 and a beta of 0.94.

Genworth Financial (NYSE:GNW - Get Free Report) last issued its 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.

Insider Activity

In related news, CEO Rohit Gupta sold 86,406 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $8.68, for a total transaction of $750,004.08. Following the transaction, the chief executive officer directly owned 794,630 shares of the company's stock, valued at approximately $6,897,388.40. The trade was a 9.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.80% of the company's stock.

Genworth Financial 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.