Genworth Financial, Inc. $GNW Stock Position Lifted by Trexquant Investment LP

Key Points

• Trexquant Investment LP increased its stake in Genworth Financial by 162.4% during Q1, now owning over 1.3 million shares valued at approximately $9.4 million.
• Several other institutional investors also boosted their positions, with Donald Smith & CO. Inc. acquiring an additional 1.165 million shares, increasing their total to nearly 27.1 million shares.
• Wall Street analysts have rated Genworth Financial with an average rating of "Buy", and Keefe, Bruyette & Woods set a new target price of $9.50.

Trexquant Investment LP increased its position in shares of Genworth Financial, Inc. (NYSE:GNW - Free Report) by 162.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,330,661 shares of the financial services provider's stock after purchasing an additional 823,470 shares during the quarter. Trexquant Investment LP owned 0.32% of Genworth Financial worth $9,434,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. OMERS ADMINISTRATION Corp lifted its stake in Genworth Financial by 609.1% during the first quarter. OMERS ADMINISTRATION Corp now owns 352,400 shares of the financial services provider's stock worth $2,499,000 after purchasing an additional 302,700 shares during the last quarter. Comerica Bank boosted its position in Genworth Financial by 52.8% during the 1st quarter. Comerica Bank now owns 322,156 shares of the financial services provider's stock valued at $2,284,000 after purchasing an additional 111,296 shares during the period. Jump Financial LLC boosted its position in Genworth Financial by 81.4% during the 1st quarter. Jump Financial LLC now owns 636,378 shares of the financial services provider's stock valued at $4,512,000 after purchasing an additional 285,636 shares during the period. Valueworks LLC boosted its position in Genworth Financial by 2.3% during the 1st quarter. Valueworks LLC now owns 725,300 shares of the financial services provider's stock valued at $5,142,000 after purchasing an additional 16,080 shares during the period. Finally, Capital Fund Management S.A. acquired a new position in Genworth Financial during the 1st quarter valued at approximately $701,000. 81.85% of the stock is currently owned by institutional investors.

Insider Activity at Genworth Financial

In other news, CEO Rohit Gupta sold 86,406 shares of the stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $8.68, for a total value of $750,004.08. Following the completion of the sale, the chief executive officer directly owned 794,630 shares of the company's stock, valued at $6,897,388.40. This represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.80% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GNW. Wall Street Zen upgraded Genworth Financial from a "sell" rating to a "hold" rating in a research report on Saturday. 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 report on Wednesday, July 9th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Genworth Financial presently has a consensus rating of "Buy" and a consensus target price of $9.50.

Genworth Financial Price Performance

GNW traded up $0.08 during trading on Wednesday, reaching $8.54. The stock had a trading volume of 2,305,966 shares, compared to its average volume of 6,104,821. The firm has a market capitalization of $3.50 billion, a price-to-earnings ratio of 18.97 and a beta of 0.94. 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, Inc. has a 1-year low of $5.99 and a 1-year high of $8.74. The stock has a 50 day moving average of $8.00 and a two-hundred day moving average of $7.28.

Genworth Financial (NYSE:GNW - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $1.80 billion for the quarter. Genworth Financial had a net margin of 2.61% and a return on equity of 1.91%.

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.