Victory Capital Management Inc. Grows Stock Position in Genworth Financial, Inc. (NYSE:GNW)

Key Points

• Victory Capital Management Inc. increased its holdings in Genworth Financial by 36.6%, owning 770,725 shares worth approximately $5.46 million after acquiring an additional 206,485 shares in Q1.
• Several other institutional investors like JPMorgan Chase & Co. and Nuveen Asset Management LLC also boosted their stakes in Genworth Financial, indicating strong interest in the company's stock.
• Genworth Financial reported a Q1 EPS of $0.12, missing analysts' estimates, with revenue of $1.76 billion during the quarter.

Victory Capital Management Inc. raised its stake in Genworth Financial, Inc. (NYSE:GNW - Free Report) by 36.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 770,725 shares of the financial services provider's stock after purchasing an additional 206,485 shares during the period. Victory Capital Management Inc. owned 0.19% of Genworth Financial worth $5,464,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GNW. Byrne Asset Management LLC boosted its holdings in shares of 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. Pennington Partners & CO. LLC acquired a new stake in Genworth Financial in the fourth quarter valued at approximately $84,000. Landscape Capital Management L.L.C. purchased a new position in Genworth Financial in the fourth quarter worth $85,000. Mercer Global Advisors Inc. ADV purchased a new position in Genworth Financial in the fourth quarter worth $86,000. Finally, GTS Securities LLC acquired a new position in shares of Genworth Financial during the fourth quarter worth $93,000. Hedge funds and other institutional investors own 81.85% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods boosted their price target on Genworth Financial from $9.00 to $9.50 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Wall Street Zen downgraded shares of Genworth Financial from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd.

Genworth Financial Price Performance

Genworth Financial stock traded down $0.05 during midday trading on Wednesday, reaching $7.95. The company had a trading volume of 7,185,606 shares, compared to its average volume of 5,942,371. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.29 and a quick ratio of 0.29. Genworth Financial, Inc. has a 12-month low of $5.99 and a 12-month high of $8.28. The company has a market capitalization of $3.29 billion, a P/E ratio of 15.90 and a beta of 1.06. The firm's fifty day simple moving average is $7.40 and its 200-day simple moving average is $7.07.

Genworth Financial (NYSE:GNW - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.16 EPS for the quarter, topping the consensus estimate of $0.05 by $0.11. Genworth Financial had a return on equity of 2.53% and a net margin of 2.97%.

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.