GAMMA Investing LLC Buys 2,679 Shares of Genworth Financial, Inc. $GNW

GAMMA Investing LLC lifted its holdings in Genworth Financial, Inc. (NYSE:GNW) by 29.5% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,770 shares of the financial services provider’s stock after buying an additional 2,679 shares during the period. GAMMA Investing LLC’s holdings in Genworth Financial were worth $92,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Clare Market Investments LLC purchased a new position in Genworth Financial in the second quarter valued at approximately $521,000. Wealth Enhancement Advisory Services LLC lifted its stake in Genworth Financial by 117.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 46,976 shares of the financial services provider’s stock valued at $375,000 after purchasing an additional 25,341 shares during the last quarter. Pallas Capital Advisors LLC lifted its stake in Genworth Financial by 52.5% in the second quarter. Pallas Capital Advisors LLC now owns 43,607 shares of the financial services provider’s stock valued at $339,000 after purchasing an additional 15,005 shares during the last quarter. Voya Investment Management LLC lifted its stake in Genworth Financial by 5.8% in the first quarter. Voya Investment Management LLC now owns 874,022 shares of the financial services provider’s stock valued at $6,197,000 after purchasing an additional 47,832 shares during the last quarter. Finally, Strs Ohio purchased a new stake in shares of Genworth Financial during the first quarter worth $82,000. Hedge funds and other institutional investors own 81.85% of the company’s stock.

Genworth Financial Stock Up 0.8%

Shares of NYSE:GNW opened at $8.91 on Friday. The stock’s 50-day moving average price is $8.53 and its 200-day moving average price is $7.59. Genworth Financial, Inc. has a 12-month low of $5.99 and a 12-month high of $9.15. The stock has a market capitalization of $3.65 billion, a P/E ratio of 19.79 and a beta of 0.99. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.16.

Genworth Financial (NYSE:GNW) last posted its earnings results on Wednesday, July 30th. The financial services provider reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.11. The company had revenue of $1.80 billion during the quarter. Genworth Financial had a net margin of 2.61% and a return on equity of 1.91%.

Insider Buying and Selling

In other Genworth Financial news, CEO Rohit Gupta sold 86,406 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $8.68, for a total value of $750,004.08. Following the completion of the sale, the chief executive officer directly owned 794,630 shares in the company, valued at $6,897,388.40. This trade represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.80% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Wall Street Zen downgraded Genworth Financial from a “hold” rating to a “sell” rating in a research report on Sunday, September 7th. Keefe, Bruyette & Woods increased their target price on Genworth Financial from $9.00 to $9.50 and gave the stock an “outperform” rating in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $9.50.

Genworth Financial Profile

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.