Financial Harvest LLC Takes Position in Genworth Financial, Inc. (NYSE:GNW)

Financial Harvest LLC bought a new stake in shares of Genworth Financial, Inc. (NYSE:GNW) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 180,898 shares of the financial services provider’s stock, valued at approximately $1,283,000. Genworth Financial accounts for approximately 0.9% of Financial Harvest LLC’s holdings, making the stock its 15th largest position.

Several other large investors have also modified their holdings of the stock. Raymond James Financial Inc. bought a new stake in Genworth Financial in the 4th quarter valued at $7,496,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Genworth Financial by 15.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 127,621 shares of the financial services provider’s stock worth $892,000 after buying an additional 16,937 shares during the period. HighTower Advisors LLC raised its holdings in shares of Genworth Financial by 14.0% in the fourth quarter. HighTower Advisors LLC now owns 17,590 shares of the financial services provider’s stock valued at $123,000 after purchasing an additional 2,154 shares during the last quarter. Cibc World Markets Corp bought a new position in shares of Genworth Financial in the fourth quarter valued at $282,000. Finally, Xponance Inc. boosted its position in Genworth Financial by 9.5% during the fourth quarter. Xponance Inc. now owns 31,032 shares of the financial services provider’s stock worth $217,000 after purchasing an additional 2,693 shares during the period. 81.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Wall Street Zen downgraded shares of Genworth Financial from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Keefe, Bruyette & Woods lifted their target price on Genworth Financial from $9.00 to $9.50 and gave the company an “outperform” rating in a report on Wednesday, July 9th.

Genworth Financial Stock Performance

Shares of Genworth Financial stock opened at $7.45 on Friday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $3.09 billion, a PE ratio of 14.90 and a beta of 1.06. Genworth Financial, Inc. has a 52 week low of $5.99 and a 52 week high of $8.08. The stock’s fifty day moving average is $7.29 and its two-hundred day moving average is $7.02.

Genworth Financial (NYSE:GNW) last issued its quarterly 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). The business had revenue of $1.76 billion for the quarter. Genworth Financial had a return on equity of 2.53% and a net margin of 2.97%.

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.