KBC Group NV Buys New Position in Genworth Financial Inc (GNW)
KBC Group NV acquired a new stake in Genworth Financial Inc (NYSE:GNW) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 142,440 shares of the financial services provider’s stock, valued at approximately $548,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bayesian Capital Management LP purchased a new stake in Genworth Financial in the second quarter valued at approximately $126,000. Shelton Capital Management acquired a new position in shares of Genworth Financial in the second quarter valued at approximately $140,000. Teacher Retirement System of Texas increased its holdings in shares of Genworth Financial by 1.1% in the second quarter. Teacher Retirement System of Texas now owns 40,020 shares of the financial services provider’s stock valued at $151,000 after purchasing an additional 418 shares during the period. Fondren Management LP acquired a new position in shares of Genworth Financial in the second quarter valued at approximately $189,000. Finally, Sigma Planning Corp increased its holdings in shares of Genworth Financial by 6.1% in the second quarter. Sigma Planning Corp now owns 52,412 shares of the financial services provider’s stock valued at $198,000 after purchasing an additional 3,000 shares during the period. Institutional investors own 66.87% of the company’s stock.
GNW has been the topic of a number of recent research reports. Off Wall Street initiated coverage on Genworth Financial in a report on Monday, September 11th. They issued a “buy” rating on the stock. Zacks Investment Research lowered Genworth Financial from a “hold” rating to a “strong sell” rating in a report on Monday, November 6th. ValuEngine raised Genworth Financial from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Wells Fargo & Company reissued a “hold” rating and issued a $3.75 target price on shares of Genworth Financial in a report on Friday, November 3rd. Finally, BTIG Research reissued a “neutral” rating on shares of Genworth Financial in a report on Saturday, September 16th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Genworth Financial currently has a consensus rating of “Hold” and a consensus price target of $3.92.
Genworth Financial (NYSE:GNW) last released its earnings results on Thursday, November 2nd. The financial services provider reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.05). The company had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.12 billion. Genworth Financial had a net margin of 3.88% and a return on equity of 1.57%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.81) EPS. sell-side analysts forecast that Genworth Financial Inc will post 0.94 EPS for the current year.
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Genworth Financial 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.
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