Genworth Financial, Inc. $GNW Shares Bought by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its holdings in Genworth Financial by 27.3%, acquiring 290,286 additional shares in the 1st quarter, bringing its total to over 1.3 million shares.
• Genworth Financial's quarterly earnings showed an EPS of $0.16, exceeding estimates by $0.11, and generated a revenue of $1.80 billion.
• Recent analyst actions include a downgrade from Wall Street Zen to "sell" and an upgrade from Keefe, Bruyette & Woods to "outperform" with a price target increase from $9.00 to $9.50.

Public Sector Pension Investment Board lifted its position in shares of Genworth Financial, Inc. (NYSE:GNW - Free Report) by 27.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,354,197 shares of the financial services provider's stock after acquiring an additional 290,286 shares during the quarter. Public Sector Pension Investment Board owned 0.33% of Genworth Financial worth $9,601,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Byrne Asset Management LLC lifted its stake in Genworth Financial by 69.5% in the 1st quarter. Byrne Asset Management LLC now owns 7,595 shares of the financial services provider's stock valued at $54,000 after buying an additional 3,115 shares in the last quarter. Abel Hall LLC purchased a new position in shares of Genworth Financial in the 1st quarter worth $71,000. Blueshift Asset Management LLC purchased a new position in shares of Genworth Financial in the 1st quarter worth $71,000. Pennington Partners & CO. LLC acquired a new stake in Genworth Financial in the 4th quarter valued at $84,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in Genworth Financial in the fourth quarter valued at approximately $86,000. 81.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GNW has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their target price on Genworth Financial from $9.00 to $9.50 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Wall Street Zen cut Genworth Financial from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd.

Genworth Financial Stock Performance

GNW stock traded up $0.01 during midday trading on Monday, reaching $8.34. The company had a trading volume of 1,643,328 shares, compared to its average volume of 6,262,735. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.16. The stock has a 50 day moving average price of $7.70 and a 200 day moving average price of $7.17. Genworth Financial, Inc. has a fifty-two week low of $5.99 and a fifty-two week high of $8.60. The firm has a market capitalization of $3.42 billion, a PE ratio of 18.52 and a beta of 1.12.

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

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.