OP Asset Management Ltd Takes $677,000 Position in Genworth Financial, Inc. $GNW

OP Asset Management Ltd acquired a new stake in Genworth Financial, Inc. (NYSE:GNW) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 83,400 shares of the financial services provider’s stock, valued at approximately $677,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of GNW. Hudson Bay Capital Management LP lifted its stake in Genworth Financial by 17.7% during the third quarter. Hudson Bay Capital Management LP now owns 849,629 shares of the financial services provider’s stock worth $7,562,000 after purchasing an additional 127,722 shares during the last quarter. American Century Companies Inc. increased its stake in Genworth Financial by 7.9% during the third quarter. American Century Companies Inc. now owns 9,567,534 shares of the financial services provider’s stock valued at $85,151,000 after purchasing an additional 704,498 shares during the last quarter. Arbiter Partners Capital Management LLC raised its holdings in shares of Genworth Financial by 40.7% during the third quarter. Arbiter Partners Capital Management LLC now owns 487,400 shares of the financial services provider’s stock worth $4,338,000 after purchasing an additional 141,000 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Genworth Financial by 1.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 26,493,475 shares of the financial services provider’s stock worth $235,793,000 after buying an additional 270,062 shares during the last quarter. Finally, WINTON GROUP Ltd lifted its position in shares of Genworth Financial by 203.9% in the 3rd quarter. WINTON GROUP Ltd now owns 706,644 shares of the financial services provider’s stock worth $6,289,000 after buying an additional 474,094 shares during the last quarter. Institutional investors and hedge funds own 81.85% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Wall Street Zen cut shares of Genworth Financial from a “hold” rating to a “sell” rating in a report on Sunday, May 17th. Weiss Ratings raised Genworth Financial from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, June 16th. Keefe, Bruyette & Woods raised their target price on Genworth Financial from $10.50 to $11.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Finally, Zacks Research raised shares of Genworth Financial to a “hold” rating in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $11.00.

Genworth Financial Stock Performance

Shares of GNW stock opened at $9.51 on Wednesday. Genworth Financial, Inc. has a 12-month low of $7.13 and a 12-month high of $9.61. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a market capitalization of $3.64 billion, a price-to-earnings ratio of 18.28 and a beta of 0.86. The business has a 50 day simple moving average of $8.97 and a 200 day simple moving average of $8.73.

Genworth Financial (NYSE:GNW) last announced its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.10. Genworth Financial had a return on equity of 1.73% and a net margin of 2.96%.The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.72 billion. On average, equities research analysts anticipate that Genworth Financial, Inc. will post 0.44 EPS for the current year.

Insider Transactions at Genworth Financial

In other Genworth Financial news, Director Robert P. Restrepo, Jr. sold 50,000 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $9.12, for a total transaction of $456,000.00. Following the sale, the director directly owned 92,655 shares in the company, valued at approximately $845,013.60. The trade was a 35.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas J. Mcinerney sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $9.27, for a total transaction of $927,000.00. Following the completion of the sale, the chief executive officer directly owned 5,368,883 shares of the company’s stock, valued at approximately $49,769,545.41. This represents a 1.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.80% of the company’s stock.

About Genworth Financial

Genworth Financial (NYSE: GNW) is a leading financial security company offering a broad range of insurance products. Based in Richmond, Virginia, Genworth provides individuals and families with solutions designed to protect against long-term care expenses, secure life insurance needs and support homeownership through private mortgage insurance. With operations spanning the United States, Canada and Australia, the company serves both retail and institutional clients through a diversified portfolio of risk management services.

The company’s Private Mortgage Insurance (PMI) segment offers coverage to lenders and consumers in the US, Canada and Australia, enabling homebuyers to purchase properties with lower down payments.