Northwestern Mutual Investment Management Company LLC boosted its stake in Genworth Financial Inc. (NYSE:GNW) by 0.2% during the second quarter, Holdings Channel reports. The firm owned 86,057 shares of the company’s stock after buying an additional 168 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Genworth Financial were worth $222,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd purchased a new position in Genworth Financial during the second quarter valued at approximately $102,000. Oppenheimer & Co. Inc. raised its position in Genworth Financial by 81.6% in the second quarter. Oppenheimer & Co. Inc. now owns 39,826 shares of the company’s stock valued at $103,000 after buying an additional 17,900 shares during the period. Ontario Teachers Pension Plan Board raised its position in Genworth Financial by 89.0% in the second quarter. Ontario Teachers Pension Plan Board now owns 46,201 shares of the company’s stock valued at $119,000 after buying an additional 21,754 shares during the period. Springbok Capital Management LLC purchased a new position in Genworth Financial during the first quarter valued at approximately $120,000. Finally, Rational Advisors LLC purchased a new position in Genworth Financial during the second quarter valued at approximately $126,000. 71.74% of the stock is currently owned by institutional investors.
Genworth Financial Inc. (NYSE:GNW) opened at 4.85 on Friday. Genworth Financial Inc. has a one year low of $1.57 and a one year high of $5.75. The company’s 50-day moving average price is $4.56 and its 200-day moving average price is $3.46. The firm’s market cap is $2.42 billion.
Genworth Financial (NYSE:GNW) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. Genworth Financial had a positive return on equity of 1.32% and a negative net margin of 4.24%. The firm earned $2.24 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the prior year, the business posted $0.24 earnings per share. Genworth Financial’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, analysts anticipate that Genworth Financial Inc. will post $0.88 EPS for the current year.
Several research analysts have commented on GNW shares. BTIG Research reaffirmed a “buy” rating and set a $5.00 price target on shares of Genworth Financial in a research report on Thursday, August 4th. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Genworth Financial in a research report on Wednesday, August 3rd. Zacks Investment Research raised Genworth Financial from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 13th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $3.50 price target on shares of Genworth Financial in a research report on Monday, September 5th. Finally, Wells Fargo & Co. initiated coverage on Genworth Financial in a report on Friday, September 23rd. They issued a “market perform” rating on the stock. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $5.54.
About Genworth Financial
Genworth Financial, Inc (Genworth) is a financial security company. The Company provides insurance, wealth management, investment and financial solutions. As of December 31, 2011, the Company had more than 15 million customers, with a presence in more than 25 countries. The Company operates in Insurance, Mortgage Insurance and Corporate and Runoff.
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