Handelsbanken Fonder AB Buys 40,400 Shares of Genworth Financial, Inc. (NYSE:GNW)

Handelsbanken Fonder AB boosted its stake in Genworth Financial, Inc. (NYSE:GNW - Free Report) by 56.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 112,490 shares of the financial services provider's stock after buying an additional 40,400 shares during the quarter. Handelsbanken Fonder AB's holdings in Genworth Financial were worth $798,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Savant Capital LLC boosted its holdings in Genworth Financial by 11.9% in the fourth quarter. Savant Capital LLC now owns 17,155 shares of the financial services provider's stock worth $120,000 after purchasing an additional 1,830 shares in the last quarter. NDVR Inc. boosted its stake in shares of Genworth Financial by 8.6% during the 4th quarter. NDVR Inc. now owns 24,329 shares of the financial services provider's stock worth $170,000 after acquiring an additional 1,922 shares in the last quarter. Factorial Partners LLC increased its holdings in shares of Genworth Financial by 0.3% during the 4th quarter. Factorial Partners LLC now owns 622,000 shares of the financial services provider's stock valued at $4,348,000 after acquiring an additional 2,000 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of Genworth Financial by 4.9% in the 4th quarter. CIBC Asset Management Inc now owns 43,219 shares of the financial services provider's stock valued at $302,000 after acquiring an additional 2,003 shares in the last quarter. Finally, HighTower Advisors LLC lifted its holdings in Genworth Financial by 14.0% in the 4th quarter. HighTower Advisors LLC now owns 17,590 shares of the financial services provider's stock worth $123,000 after purchasing an additional 2,154 shares during the last quarter. Hedge funds and other institutional investors own 81.85% of the company's stock.

Wall Street Analyst Weigh In

GNW has been the topic of several analyst reports. Wall Street Zen downgraded Genworth Financial from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Keefe, Bruyette & Woods raised their target price on shares of Genworth Financial from $8.00 to $8.50 and gave the company a "market perform" rating in a research note on Tuesday, May 13th.

Genworth Financial Stock Performance

Shares of NYSE:GNW traded down $0.35 during midday trading on Tuesday, hitting $6.83. The company's stock had a trading volume of 10,155,482 shares, compared to its average volume of 4,343,610. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 13.05 and a beta of 1.03. The stock's 50 day simple moving average is $6.87 and its 200 day simple moving average is $6.97. Genworth Financial, Inc. has a fifty-two week low of $5.87 and a fifty-two week high of $7.90. 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 (NYSE:GNW - Get Free Report) last announced its earnings results on Wednesday, April 30th. The financial services provider reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.09). The business had revenue of $1.76 billion for the quarter. Genworth Financial had a net margin of 2.97% and a return on equity of 2.53%.

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.