Genworth Financial Sees Unusually High Options Volume (NYSE:GNW)

Genworth Financial, Inc. (NYSE:GNW) was the recipient of some unusual options trading activity on Monday. Investors acquired 6,079 call options on the company. This is an increase of approximately 547% compared to the typical daily volume of 940 call options.

Institutional Investors Weigh In On Genworth Financial

Several institutional investors have recently modified their holdings of the business. Daiwa Securities Group Inc. purchased a new stake in Genworth Financial during the 4th quarter valued at $33,000. GAMMA Investing LLC bought a new stake in shares of Genworth Financial in the fourth quarter worth $56,000. Nomura Asset Management Co. Ltd. grew its holdings in shares of Genworth Financial by 29.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 8,700 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 2,000 shares during the period. Versor Investments LP purchased a new stake in Genworth Financial during the third quarter valued at $71,000. Finally, Pathway Financial Advisors LLC bought a new position in Genworth Financial in the fourth quarter valued at about $71,000. 81.85% of the stock is owned by hedge funds and other institutional investors.

Genworth Financial Trading Up 0.4 %

NYSE:GNW opened at $6.02 on Tuesday. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of -601,500.00 and a beta of 1.06. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.19. The company’s 50 day moving average price is $6.19 and its 200-day moving average price is $6.17. Genworth Financial has a 52 week low of $4.51 and a 52 week high of $6.93.

Genworth Financial (NYSE:GNW) last issued its earnings results on Wednesday, February 21st. The financial services provider reported ($0.51) EPS for the quarter, missing the consensus estimate of $0.19 by ($0.70). Genworth Financial had a net margin of 0.21% and a negative return on equity of 0.23%. The business had revenue of $1.91 billion for the quarter. During the same quarter last year, the company posted $0.35 EPS.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods upped their price target on Genworth Financial from $6.50 to $7.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th.

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.