Ursa Fund Management LLC acquired a new position in shares of Genworth Financial Inc (NYSE:GNW) during the first quarter, Holdings Channel reports. The fund acquired 147,200 shares of the financial services provider’s stock, valued at approximately $606,000. Genworth Financial accounts for approximately 0.5% of Ursa Fund Management LLC’s portfolio, making the stock its 9th largest position.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Capstone Investment Advisors LLC purchased a new position in Genworth Financial during the fourth quarter valued at approximately $784,000. Menta Capital LLC boosted its position in Genworth Financial by 56.4% in the fourth quarter. Menta Capital LLC now owns 217,698 shares of the financial services provider’s stock valued at $829,000 after buying an additional 78,500 shares during the period. Renaissance Technologies LLC boosted its position in Genworth Financial by 127.0% in the fourth quarter. Renaissance Technologies LLC now owns 1,708,700 shares of the financial services provider’s stock valued at $6,510,000 after buying an additional 956,132 shares during the period. Pacad Investment Ltd. purchased a new position in Genworth Financial during the fourth quarter valued at approximately $135,000. Finally, Credit Agricole S A boosted its position in Genworth Financial by 79.9% in the fourth quarter. Credit Agricole S A now owns 112,690 shares of the financial services provider’s stock valued at $429,000 after buying an additional 50,038 shares during the period. Hedge funds and other institutional investors own 66.88% of the company’s stock.
Genworth Financial Inc (NYSE GNW) traded down 1.88% on Friday, reaching $3.65. 6,242,444 shares of the company’s stock traded hands. Genworth Financial Inc has a 52 week low of $2.26 and a 52 week high of $5.27. The firm’s market capitalization is $1.82 billion. The stock has a 50-day moving average of $3.68 and a 200 day moving average of $3.88.
Genworth Financial (NYSE:GNW) last issued its quarterly earnings data on Tuesday, May 2nd. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.07. Genworth Financial had a negative net margin of 2.00% and a negative return on equity of 1.75%. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.15 billion. On average, equities analysts expect that Genworth Financial Inc will post $0.96 EPS for the current fiscal year.
Several research analysts have commented on GNW shares. Zacks Investment Research upgraded shares of Genworth Financial from a “hold” rating to a “buy” rating and set a $4.25 price target for the company in a report on Thursday, May 4th. BidaskClub upgraded shares of Genworth Financial from a “sell” rating to a “hold” rating in a report on Tuesday. ValuEngine upgraded shares of Genworth Financial from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Wells Fargo & Company reiterated a “hold” rating on shares of Genworth Financial in a report on Tuesday, May 2nd. Finally, BTIG Research reiterated a “neutral” rating on shares of Genworth Financial in a report on Wednesday, April 19th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $4.17.
Genworth Financial Company Profile
Genworth Financial, Inc (Genworth) is a financial security company. The Company provides insurance, wealth management, investment and financial solutions. As of December 31, 2011, the Company had more than 15 million customers, with a presence in more than 25 countries. The Company operates in Insurance, Mortgage Insurance and Corporate and Runoff.
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