Y Intercept Hong Kong Ltd Purchases 304,344 Shares of Genworth Financial, Inc. $GNW

Y Intercept Hong Kong Ltd grew its position in Genworth Financial, Inc. (NYSE:GNW) by 765.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 344,112 shares of the financial services provider’s stock after purchasing an additional 304,344 shares during the quarter. Y Intercept Hong Kong Ltd owned approximately 0.08% of Genworth Financial worth $2,677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Blueshift Asset Management LLC bought a new position in shares of Genworth Financial in the first quarter worth approximately $71,000. Abel Hall LLC bought a new position in shares of Genworth Financial in the first quarter worth approximately $71,000. Strs Ohio bought a new position in shares of Genworth Financial in the first quarter worth approximately $82,000. GAMMA Investing LLC boosted its position in shares of Genworth Financial by 29.5% in the second quarter. GAMMA Investing LLC now owns 11,770 shares of the financial services provider’s stock worth $92,000 after purchasing an additional 2,679 shares during the period. Finally, Perbak Capital Partners LLP bought a new position in shares of Genworth Financial in the first quarter worth approximately $95,000. 81.85% of the stock is currently owned by institutional investors.

Genworth Financial Price Performance

Genworth Financial stock opened at $8.42 on Friday. The company has a market cap of $3.45 billion, a price-to-earnings ratio of 18.70 and a beta of 0.99. The firm’s fifty day moving average is $8.69 and its 200 day moving average is $7.84. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.16. Genworth Financial, Inc. has a 52-week low of $5.99 and a 52-week high of $9.15.

Genworth Financial (NYSE:GNW) last released its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.11. The company had revenue of $1.80 billion for the quarter. Genworth Financial had a net margin of 2.61% and a return on equity of 1.91%.

Insiders Place Their Bets

In other Genworth Financial news, CEO Rohit Gupta sold 86,406 shares of the business’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $8.68, for a total transaction of $750,004.08. Following the transaction, the chief executive officer owned 794,630 shares in the company, valued at $6,897,388.40. The trade was a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.80% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on GNW. Keefe, Bruyette & Woods boosted their target price on shares of Genworth Financial from $9.50 to $10.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. Wall Street Zen downgraded shares of Genworth Financial from a “hold” rating to a “sell” rating in a report on Saturday, October 11th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Genworth Financial in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Genworth Financial has a consensus rating of “Moderate Buy” and a consensus price target of $10.00.

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.