Allspring Global Investments Holdings LLC Acquires 116,128 Shares of Genworth Financial, Inc. (NYSE:GNW)

Allspring Global Investments Holdings LLC raised its stake in Genworth Financial, Inc. (NYSE:GNW) by 12.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,064,253 shares of the financial services provider’s stock after acquiring an additional 116,128 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.26% of Genworth Financial worth $7,546,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Truist Financial Corp acquired a new stake in Genworth Financial in the fourth quarter worth about $105,000. Oppenheimer & Co. Inc. grew its position in shares of Genworth Financial by 12.7% during the 4th quarter. Oppenheimer & Co. Inc. now owns 44,300 shares of the financial services provider’s stock worth $310,000 after buying an additional 5,000 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of Genworth Financial by 279.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 10,494 shares of the financial services provider’s stock worth $73,000 after buying an additional 7,729 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in Genworth Financial during the 4th quarter worth $41,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Genworth Financial by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,195,012 shares of the financial services provider’s stock valued at $36,313,000 after purchasing an additional 99,120 shares during the period. 81.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Keefe, Bruyette & Woods raised Genworth Financial from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $8.50 to $9.00 in a research note on Wednesday, June 18th. Wall Street Zen lowered shares of Genworth Financial from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd.

Genworth Financial Stock Performance

Shares of Genworth Financial stock opened at $7.77 on Friday. The company has a market capitalization of $3.22 billion, a PE ratio of 15.53 and a beta of 1.06. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.16. The stock’s fifty day simple moving average is $7.16 and its 200 day simple moving average is $6.99. Genworth Financial, Inc. has a 12 month low of $5.95 and a 12 month high of $8.01.

Genworth Financial (NYSE:GNW) last announced its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.09). The company had revenue of $1.76 billion during the quarter. Genworth Financial had a net margin of 2.97% and a return on equity of 2.53%.

About Genworth Financial

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.