Denali Advisors LLC Increases Holdings in Genworth Financial, Inc. (NYSE:GNW)

Denali Advisors LLC lifted its position in shares of Genworth Financial, Inc. (NYSE:GNW) by 2.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 680,225 shares of the financial services provider’s stock after acquiring an additional 17,725 shares during the quarter. Denali Advisors LLC owned 0.16% of Genworth Financial worth $4,823,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Financial Harvest LLC purchased a new position in shares of Genworth Financial during the 1st quarter worth $1,283,000. Victory Capital Management Inc. increased its holdings in shares of Genworth Financial by 36.6% during the 1st quarter. Victory Capital Management Inc. now owns 770,725 shares of the financial services provider’s stock worth $5,464,000 after buying an additional 206,485 shares during the last quarter. Xponance Inc. increased its holdings in Genworth Financial by 4.8% in the 1st quarter. Xponance Inc. now owns 32,525 shares of the financial services provider’s stock valued at $231,000 after purchasing an additional 1,493 shares in the last quarter. Cerity Partners LLC increased its holdings in Genworth Financial by 136.3% in the 1st quarter. Cerity Partners LLC now owns 47,681 shares of the financial services provider’s stock valued at $338,000 after purchasing an additional 27,501 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Genworth Financial by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 2,126,240 shares of the financial services provider’s stock valued at $15,075,000 after purchasing an additional 55,085 shares in the last quarter. Hedge funds and other institutional investors own 81.85% of the company’s stock.

Genworth Financial Stock Performance

Shares of GNW stock opened at $7.45 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.29 and a current ratio of 0.29. The company’s 50-day simple moving average is $7.29 and its 200-day simple moving average is $7.02. Genworth Financial, Inc. has a one year low of $5.99 and a one year high of $8.08. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of 14.90 and a beta of 1.06.

Genworth Financial (NYSE:GNW) last issued its earnings results on Wednesday, April 30th. The financial services provider reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.09). Genworth Financial had a return on equity of 2.53% and a net margin of 2.97%. The business had revenue of $1.76 billion during the quarter.

Wall Street Analyst Weigh In

GNW has been the subject of a number of analyst reports. Keefe, Bruyette & Woods upped their price objective on shares of Genworth Financial from $9.00 to $9.50 and gave the company an “outperform” rating in a research report on Wednesday, July 9th. Wall Street Zen cut shares of Genworth Financial from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd.

About Genworth Financial

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.