Genworth Financial, Inc. (NYSE:GNW) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB raised its holdings in shares of Genworth Financial, Inc. (NYSE:GNW - Free Report) by 56.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,490 shares of the financial services provider's stock after acquiring an additional 40,400 shares during the quarter. Handelsbanken Fonder AB's holdings in Genworth Financial were worth $798,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Xponance Inc. boosted its stake in shares of Genworth Financial by 9.5% during the fourth quarter. Xponance Inc. now owns 31,032 shares of the financial services provider's stock valued at $217,000 after acquiring an additional 2,693 shares during the last quarter. New York State Teachers Retirement System boosted its stake in shares of Genworth Financial by 2.5% during the 4th quarter. New York State Teachers Retirement System now owns 550,940 shares of the financial services provider's stock worth $3,851,000 after purchasing an additional 13,633 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Genworth Financial by 4.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 948,125 shares of the financial services provider's stock worth $6,627,000 after buying an additional 36,035 shares in the last quarter. Truist Financial Corp acquired a new position in shares of Genworth Financial in the fourth quarter valued at approximately $105,000. Finally, Oppenheimer & Co. Inc. lifted its stake in shares of Genworth Financial by 12.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 44,300 shares of the financial services provider's stock valued at $310,000 after buying an additional 5,000 shares during the period. Institutional investors and hedge funds own 81.85% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Keefe, Bruyette & Woods raised shares of Genworth Financial from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $8.50 to $9.00 in a research note on Wednesday. Wall Street Zen lowered Genworth Financial from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd.

Genworth Financial Trading Up 13.5%

Shares of GNW traded up $0.92 during mid-day trading on Thursday, hitting $7.76. The company had a trading volume of 22,736,067 shares, compared to its average volume of 4,430,333. Genworth Financial, Inc. has a 1-year low of $5.95 and a 1-year high of $7.90. The business's 50-day simple moving average is $6.90 and its 200-day simple moving average is $6.97. The stock has a market cap of $3.22 billion, a PE ratio of 15.52 and a beta of 1.03. The company has a quick ratio of 0.29, a current 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, April 30th. The financial services provider reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.21 by ($0.09). Genworth Financial had a net margin of 2.97% and a return on equity of 2.53%. The company had revenue of $1.76 billion during the quarter.

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.