AXQ Capital LP Makes New Investment in Genworth Financial, Inc. $GNW

AXQ Capital LP bought a new position in shares of Genworth Financial, Inc. (NYSE:GNW) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 27,897 shares of the financial services provider’s stock, valued at approximately $217,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS boosted its holdings in shares of Genworth Financial by 33.4% in the 1st quarter. KLP Kapitalforvaltning AS now owns 119,800 shares of the financial services provider’s stock valued at $849,000 after buying an additional 30,000 shares during the period. HB Wealth Management LLC bought a new stake in shares of Genworth Financial during the first quarter valued at approximately $130,000. Blueshift Asset Management LLC acquired a new position in shares of Genworth Financial during the first quarter worth approximately $71,000. Charles Schwab Investment Management Inc. grew its holdings in Genworth Financial by 1.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,269,135 shares of the financial services provider’s stock worth $37,358,000 after buying an additional 74,123 shares in the last quarter. Finally, Evolution Advisers Inc. increased its position in Genworth Financial by 134.1% in the 1st quarter. Evolution Advisers Inc. now owns 96,252 shares of the financial services provider’s stock valued at $680,000 after acquiring an additional 55,141 shares during the period. Hedge funds and other institutional investors own 81.85% of the company’s stock.

Genworth Financial Stock Up 2.3%

Genworth Financial stock opened at $8.79 on Wednesday. The firm has a market cap of $3.51 billion, a PE ratio of 16.58 and a beta of 1.05. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.29 and a current ratio of 0.29. The firm’s 50 day moving average price is $8.66 and its two-hundred day moving average price is $8.07. Genworth Financial, Inc. has a twelve month low of $5.99 and a twelve month high of $9.15.

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on GNW shares. Keefe, Bruyette & Woods upped their price target on shares of Genworth Financial from $9.50 to $10.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Wall Street Zen raised Genworth Financial from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Genworth Financial in a report on Monday. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $10.00.

Genworth Financial Company 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.