OP Asset Management Ltd Makes New $677,000 Investment in Genworth Financial, Inc. $GNW

OP Asset Management Ltd purchased a new stake in Genworth Financial, Inc. (NYSE:GNW) in the 1st quarter, HoldingsChannel reports. The fund purchased 83,400 shares of the financial services provider’s stock, valued at approximately $677,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GNW. Dimensional Fund Advisors LP grew its position in Genworth Financial by 1.0% during 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 purchasing an additional 270,062 shares in the last quarter. Nuveen LLC boosted its position in shares of Genworth Financial by 2.3% in the fourth quarter. Nuveen LLC now owns 9,781,111 shares of the financial services provider’s stock worth $88,323,000 after buying an additional 223,279 shares during the period. American Century Companies Inc. boosted its position in shares of Genworth Financial by 7.9% in the third quarter. American Century Companies Inc. now owns 9,567,534 shares of the financial services provider’s stock worth $85,151,000 after buying an additional 704,498 shares during the period. Gendell Jeffrey L grew its holdings in shares of Genworth Financial by 168.0% during the fourth quarter. Gendell Jeffrey L now owns 6,485,888 shares of the financial services provider’s stock valued at $58,568,000 after buying an additional 4,065,684 shares in the last quarter. Finally, Norges Bank purchased a new stake in Genworth Financial in the 4th quarter worth about $45,912,000. Institutional investors and hedge funds own 81.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Keefe, Bruyette & Woods lifted 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. Wall Street Zen downgraded shares of Genworth Financial from a “hold” rating to a “sell” rating in a research report on Sunday, May 17th. Weiss Ratings upgraded shares of Genworth Financial from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, June 16th. Finally, Zacks Research raised shares of Genworth Financial to a “hold” rating in a research note on Wednesday, May 27th. One equities research 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.com, Genworth Financial presently has a consensus rating of “Hold” and a consensus target price of $11.00.

Genworth Financial Stock Down 0.2%

Genworth Financial stock opened at $9.51 on Wednesday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.15. Genworth Financial, Inc. has a 1-year low of $7.13 and a 1-year high of $9.61. The firm’s fifty day simple moving average is $8.97 and its 200-day simple moving average is $8.73. The company has a market capitalization of $3.64 billion, a P/E ratio of 18.28 and a beta of 0.86.

Genworth Financial (NYSE:GNW) last posted its earnings results on Tuesday, May 5th. The financial services provider reported $0.28 EPS for the quarter, topping the consensus estimate of $0.18 by $0.10. Genworth Financial had a net margin of 2.96% and a return on equity of 1.73%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.72 billion. Sell-side analysts forecast that Genworth Financial, Inc. will post 0.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Robert P. Restrepo, Jr. sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $9.12, for a total value of $456,000.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available 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 value of $927,000.00. Following the sale, the chief executive officer directly owned 5,368,883 shares of the company’s stock, valued at $49,769,545.41. The trade was a 1.83% decrease in their position. The SEC filing for this sale provides additional information. 1.80% of the stock is currently owned by company insiders.

Genworth Financial Company Profile

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.