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

Genworth Financial, Inc. (NYSE:GNW) was the recipient of some unusual options trading activity on Tuesday. Stock traders purchased 8,266 call options on the stock. This represents an increase of 877% compared to the average daily volume of 846 call options.

Genworth Financial Trading Down 0.7 %

NYSE:GNW opened at $6.62 on Wednesday. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of 34.82 and a beta of 1.08. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.18. The company’s 50 day moving average price is $6.21 and its 200-day moving average price is $6.19. Genworth Financial has a 52 week low of $4.83 and a 52 week high of $6.93.

Genworth Financial (NYSE:GNW) last released its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $0.19 earnings per share (EPS) for the quarter. The business had revenue of $1.86 billion for the quarter. Genworth Financial had a negative return on equity of 0.21% and a net margin of 1.24%.

Institutional Investors Weigh In On Genworth Financial

Several institutional investors have recently modified their holdings of the business. Susquehanna Fundamental Investments LLC purchased a new stake in Genworth Financial in the first quarter worth approximately $440,000. Empowered Funds LLC bought a new stake in shares of Genworth Financial during the 1st quarter valued at about $67,000. Quantbot Technologies LP purchased a new stake in shares of Genworth Financial during the 1st quarter valued at about $232,000. Texas Permanent School Fund Corp increased its position in shares of Genworth Financial by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 394,715 shares of the financial services provider’s stock valued at $2,538,000 after purchasing an additional 5,106 shares during the last quarter. Finally, Evolution Advisers Inc. lifted its stake in shares of Genworth Financial by 170.7% in the 1st quarter. Evolution Advisers Inc. now owns 41,111 shares of the financial services provider’s stock worth $265,000 after purchasing an additional 25,922 shares during the period. 81.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods increased their target price 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.

About Genworth Financial

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.