Shah Capital Management Has $26,341,000 Position in Genworth Financial Inc. (GNW)
Shah Capital Management decreased its stake in shares of Genworth Financial Inc. (NYSE:GNW) by 0.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,310,800 shares of the company’s stock after selling 31,000 shares during the period. Genworth Financial comprises 14.7% of Shah Capital Management’s investment portfolio, making the stock its 2nd largest position. Shah Capital Management owned 1.07% of Genworth Financial worth $26,341,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in GNW. Dynamic Technology Lab Private Ltd bought a new position in Genworth Financial during the second quarter valued at approximately $102,000. Oppenheimer & Co. Inc. boosted its position in Genworth Financial by 81.6% in the second quarter. Oppenheimer & Co. Inc. now owns 39,826 shares of the company’s stock valued at $103,000 after buying an additional 17,900 shares in the last quarter. Springbok Capital Management LLC bought a new position in Genworth Financial during the first quarter valued at approximately $120,000. Ontario Teachers Pension Plan Board boosted its position in Genworth Financial by 89.0% in the second quarter. Ontario Teachers Pension Plan Board now owns 46,201 shares of the company’s stock valued at $119,000 after buying an additional 21,754 shares in the last quarter. Finally, Rational Advisors LLC bought a new position in Genworth Financial during the second quarter valued at approximately $126,000. 71.89% of the stock is currently owned by institutional investors.
Shares of Genworth Financial Inc. (NYSE:GNW) opened at 5.16 on Thursday. The firm’s 50-day moving average is $4.89 and its 200-day moving average is $3.60. The company’s market capitalization is $2.57 billion. Genworth Financial Inc. has a 12-month low of $1.57 and a 12-month high of $5.74.
Genworth Financial (NYSE:GNW) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. Genworth Financial had a negative net margin of 4.24% and a positive return on equity of 1.32%. The business had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same period last year, the business posted $0.24 earnings per share. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. On average, equities research analysts anticipate that Genworth Financial Inc. will post $0.88 EPS for the current fiscal year.
Several research firms have recently commented on GNW. BTIG Research cut shares of Genworth Financial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $5.75 to $1.57 in a report on Wednesday, October 5th. Zacks Investment Research upgraded shares of Genworth Financial from a “hold” rating to a “buy” rating and set a $5.50 price target on the stock in a report on Monday, October 3rd. Goldman Sachs Group Inc. boosted their price target on shares of Genworth Financial from $3.00 to $4.00 and gave the company a “neutral” rating in a report on Friday, September 23rd. Wells Fargo & Co. began coverage on shares of Genworth Financial in a report on Friday, September 23rd. They set a “market perform” rating on the stock. Finally, Compass Point cut shares of Genworth Financial from a “buy” rating to a “neutral” rating in a report on Monday, September 19th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $4.80.
Genworth Financial Company Profile
Genworth Financial, Inc (Genworth) is a financial security company. The Company provides insurance, wealth management, investment and financial solutions. As of December 31, 2011, the Company had more than 15 million customers, with a presence in more than 25 countries. The Company operates in Insurance, Mortgage Insurance and Corporate and Runoff.
Receive News & Stock Ratings for Genworth Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genworth Financial Inc. and related stocks with our FREE daily email newsletter.