Y Intercept Hong Kong Ltd Trims Stock Holdings in Genworth Financial, Inc. $GNW

Y Intercept Hong Kong Ltd lowered its stake in Genworth Financial, Inc. (NYSE:GNW) by 77.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,696 shares of the financial services provider’s stock after selling 267,416 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Genworth Financial were worth $683,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Voya Investment Management LLC raised its holdings in shares of Genworth Financial by 30.5% in the 3rd quarter. Voya Investment Management LLC now owns 817,996 shares of the financial services provider’s stock valued at $7,280,000 after buying an additional 191,384 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Genworth Financial by 117.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 46,976 shares of the financial services provider’s stock valued at $375,000 after acquiring an additional 25,341 shares during the period. Vanguard Personalized Indexing Management LLC grew its position in Genworth Financial by 24.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 46,929 shares of the financial services provider’s stock valued at $365,000 after acquiring an additional 9,279 shares in the last quarter. American Century Companies Inc. increased its stake in Genworth Financial by 10.0% during the second quarter. American Century Companies Inc. now owns 8,863,036 shares of the financial services provider’s stock worth $68,954,000 after purchasing an additional 806,502 shares during the period. Finally, Hudson Bay Capital Management LP acquired a new stake in shares of Genworth Financial during the second quarter worth about $5,616,000. Hedge funds and other institutional investors own 81.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GNW shares. Keefe, Bruyette & Woods lifted their price objective on shares of Genworth Financial from $9.50 to $10.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Weiss Ratings lowered Genworth Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, January 20th. Finally, Wall Street Zen upgraded Genworth Financial from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $10.00.

Genworth Financial Trading Up 1.3%

NYSE GNW opened at $8.45 on Tuesday. Genworth Financial, Inc. has a 52 week low of $5.99 and a 52 week high of $9.28. The firm has a 50 day moving average of $8.74 and a two-hundred day moving average of $8.57. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $3.37 billion, a PE ratio of 15.93 and a beta of 1.01.

Genworth Financial (NYSE:GNW) last released its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.02). The firm had revenue of $1.04 billion for the quarter. Genworth Financial had a return on equity of 1.56% and a net margin of 3.01%.

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.