Genworth Financial Inc (GNW) Stake Lifted by Schwab Charles Investment Management Inc.

Schwab Charles Investment Management Inc. lifted its stake in shares of Genworth Financial Inc (NYSE:GNW) by 4.6% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 3,489,434 shares of the financial services provider’s stock after buying an additional 154,507 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.70% of Genworth Financial worth $9,876,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. increased its position in Genworth Financial by 11.2% during the fourth quarter. BlackRock Inc. now owns 54,184,339 shares of the financial services provider’s stock worth $168,512,000 after acquiring an additional 5,446,174 shares during the period. Bank of New York Mellon Corp increased its position in Genworth Financial by 18.5% during the fourth quarter. Bank of New York Mellon Corp now owns 7,030,319 shares of the financial services provider’s stock worth $21,865,000 after acquiring an additional 1,099,278 shares during the period. California Public Employees Retirement System increased its position in Genworth Financial by 4.0% during the fourth quarter. California Public Employees Retirement System now owns 4,673,750 shares of the financial services provider’s stock worth $14,535,000 after acquiring an additional 177,722 shares during the period. Geode Capital Management LLC increased its position in Genworth Financial by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 4,122,951 shares of the financial services provider’s stock worth $12,822,000 after acquiring an additional 27,203 shares during the period. Finally, River Road Asset Management LLC bought a new position in Genworth Financial during the first quarter worth about $10,021,000. Institutional investors own 65.43% of the company’s stock.

GNW has been the topic of a number of recent research reports. Wells Fargo & Co set a $3.00 price target on shares of Genworth Financial and gave the stock a “hold” rating in a research report on Thursday, March 1st. ValuEngine lowered shares of Genworth Financial from a “buy” rating to a “hold” rating in a research report on Thursday, March 1st. Zacks Investment Research lowered shares of Genworth Financial from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Keefe, Bruyette & Woods reissued a “hold” rating on shares of Genworth Financial in a report on Thursday, April 12th. Finally, BTIG Research reissued a “hold” rating on shares of Genworth Financial in a report on Tuesday, June 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $4.17.

NYSE:GNW opened at $4.53 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.28 and a current ratio of 0.28. Genworth Financial Inc has a one year low of $2.66 and a one year high of $4.92. The company has a market cap of $2.28 billion, a P/E ratio of 3.26, a price-to-earnings-growth ratio of 0.99 and a beta of 2.44.

Genworth Financial (NYSE:GNW) last posted its earnings results on Tuesday, May 1st. The financial services provider reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). The business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.15 billion. Genworth Financial had a return on equity of 4.50% and a net margin of 9.39%. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.29 earnings per share. analysts expect that Genworth Financial Inc will post 0.92 earnings per share for the current fiscal year.

About Genworth Financial

Genworth Financial, Inc provides insurance and homeownership solutions in the United States and internationally. It operates through five segments: U.S. Mortgage Insurance, Canada Mortgage Insurance, Australia Mortgage Insurance, U.S. Life Insurance, and Runoff. The U.S. Mortgage Insurance segment offers mortgage insurance products primarily insuring prime-based, individually underwritten residential mortgage loans.

Institutional Ownership by Quarter for Genworth Financial (NYSE:GNW)

Receive News & Ratings for Genworth Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genworth Financial and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply