Public Sector Pension Investment Board Has $9.60 Million Holdings in Genworth Financial, Inc. (NYSE:GNW)

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 boosted its stake in shares of Genworth Financial, Inc. (NYSE:GNW - Free Report) by 27.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,354,197 shares of the financial services provider's stock after purchasing an additional 290,286 shares during the quarter. Public Sector Pension Investment Board owned about 0.33% of Genworth Financial worth $9,601,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Donald Smith & CO. Inc. boosted its position in Genworth Financial by 4.5% during the first quarter. Donald Smith & CO. Inc. now owns 27,114,581 shares of the financial services provider's stock worth $192,242,000 after purchasing an additional 1,165,112 shares during the period. Northern Trust Corp boosted its position in Genworth Financial by 18.1% during the fourth quarter. Northern Trust Corp now owns 6,025,178 shares of the financial services provider's stock worth $42,116,000 after purchasing an additional 922,126 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Genworth Financial by 1.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 5,269,135 shares of the financial services provider's stock worth $37,358,000 after purchasing an additional 74,123 shares during the period. Nuveen LLC bought a new position in Genworth Financial during the first quarter worth $24,661,000. Finally, Nuveen Asset Management LLC boosted its position in Genworth Financial by 106.9% during the fourth quarter. Nuveen Asset Management LLC now owns 2,663,077 shares of the financial services provider's stock worth $18,615,000 after purchasing an additional 1,375,637 shares during the period. 81.85% of the stock is owned by institutional investors.

Genworth Financial Stock Performance

Shares of GNW traded down $0.24 during midday trading on Friday, reaching $8.31. 4,625,153 shares of the stock were exchanged, compared to its average volume of 6,701,517. Genworth Financial, Inc. has a twelve month low of $5.99 and a twelve month high of $8.60. 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 company has a market cap of $3.41 billion, a P/E ratio of 18.47 and a beta of 1.12. The stock's 50 day simple moving average is $7.70 and its 200 day simple moving average is $7.17.

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

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods lifted their price objective 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. Wall Street Zen cut shares of Genworth Financial from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd.

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.