Genworth Financial, Inc. (NYSE:GNW) Sees Significant Growth in Short Interest

Genworth Financial, Inc. (NYSE:GNW) was the target of a significant increase in short interest during the month of January. As of January 15th, there was short interest totaling 7,680,151 shares, an increase of 22.4% from the December 31st total of 6,276,623 shares. Based on an average daily volume of 4,435,598 shares, the days-to-cover ratio is presently 1.7 days. Approximately 2.0% of the company’s shares are short sold. Approximately 2.0% of the company’s shares are short sold. Based on an average daily volume of 4,435,598 shares, the days-to-cover ratio is presently 1.7 days.

Genworth Financial Stock Performance

Shares of NYSE:GNW opened at $8.90 on Thursday. The company has a market capitalization of $3.55 billion, a price-to-earnings ratio of 16.79 and a beta of 1.01. Genworth Financial has a 52 week low of $5.99 and a 52 week high of $9.28. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average of $8.74 and a 200 day moving average of $8.58.

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Weiss Ratings downgraded shares of Genworth Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, January 20th. Wall Street Zen upgraded shares of Genworth Financial from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Genworth Financial from $9.50 to $10.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $10.00.

Institutional Trading of Genworth Financial

Several hedge funds have recently modified their holdings of the company. Norges Bank acquired a new stake in Genworth Financial in the second quarter worth about $26,992,000. UBS Group AG raised its position in shares of Genworth Financial by 621.2% in the 4th quarter. UBS Group AG now owns 3,598,588 shares of the financial services provider’s stock valued at $32,495,000 after purchasing an additional 3,099,582 shares during the last quarter. Invesco Ltd. raised its position in shares of Genworth Financial by 41.0% in the 2nd quarter. Invesco Ltd. now owns 4,291,220 shares of the financial services provider’s stock valued at $33,386,000 after purchasing an additional 1,248,374 shares during the last quarter. American Century Companies Inc. boosted its stake in Genworth Financial by 10.0% in the 2nd quarter. American Century Companies Inc. now owns 8,863,036 shares of the financial services provider’s stock worth $68,954,000 after purchasing an additional 806,502 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in Genworth Financial by 28.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,523,537 shares of the financial services provider’s stock worth $27,413,000 after purchasing an additional 774,010 shares during the last quarter. 81.85% of the stock is owned by hedge funds and other institutional investors.

About Genworth Financial

Genworth Financial (NYSE: GNW) is a leading financial security company offering a broad range of insurance products. Based in Richmond, Virginia, Genworth provides individuals and families with solutions designed to protect against long-term care expenses, secure life insurance needs and support homeownership through private mortgage insurance. With operations spanning the United States, Canada and Australia, the company serves both retail and institutional clients through a diversified portfolio of risk management services.

The company’s Private Mortgage Insurance (PMI) segment offers coverage to lenders and consumers in the US, Canada and Australia, enabling homebuyers to purchase properties with lower down payments.