Old Mutual Global Investors UK Ltd. increased its position in Genworth Financial Inc. (NYSE:GNW) by 61.5% during the second quarter, Holdings Channel reports. The fund owned 1,997,180 shares of the company’s stock after buying an additional 760,324 shares during the period. Old Mutual Global Investors UK Ltd.’s holdings in Genworth Financial were worth $5,152,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of GNW. Norges Bank acquired a new stake in Genworth Financial during the fourth quarter worth $17,449,000. Acadian Asset Management LLC acquired a new stake in Genworth Financial during the first quarter worth $1,156,000. Aperio Group LLC boosted its stake in Genworth Financial by 70.0% in the first quarter. Aperio Group LLC now owns 412,781 shares of the company’s stock worth $1,127,000 after buying an additional 169,987 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its stake in Genworth Financial by 71.8% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,420,640 shares of the company’s stock worth $3,878,000 after buying an additional 593,890 shares in the last quarter. Finally, Teachers Advisors Inc. boosted its stake in Genworth Financial by 7.6% in the first quarter. Teachers Advisors Inc. now owns 444,101 shares of the company’s stock worth $1,212,000 after buying an additional 31,236 shares in the last quarter. 71.74% of the stock is owned by institutional investors and hedge funds.
Genworth Financial Inc. (NYSE:GNW) traded down 1.21% during midday trading on Friday, hitting $4.89. The stock had a trading volume of 5,826,273 shares. The stock’s market cap is $2.44 billion. The company has a 50-day moving average of $4.41 and a 200-day moving average of $3.40. Genworth Financial Inc. has a 1-year low of $1.57 and a 1-year high of $5.75.
Genworth Financial (NYSE:GNW) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.04. The business earned $2.24 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Genworth Financial had a positive return on equity of 1.32% and a negative net margin of 4.24%. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 earnings per share. Equities research analysts forecast that Genworth Financial Inc. will post $0.88 EPS for the current year.
GNW has been the subject of a number of recent analyst reports. Zacks Investment Research cut Genworth Financial from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 5th. Wells Fargo & Co. initiated coverage on Genworth Financial in a report on Friday. They set a “market perform” rating for the company. BTIG Research reaffirmed a “buy” rating and set a $5.00 price target on shares of Genworth Financial in a report on Thursday, August 4th. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Genworth Financial in a report on Wednesday, August 3rd. Finally, Goldman Sachs Group Inc. raised their price target on Genworth Financial from $3.00 to $4.00 and gave the company a “neutral” rating in a report on Friday. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $5.54.
Genworth Financial Company Profile
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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