KLP Kapitalforvaltning AS Boosts Stake in Genworth Financial, Inc. (NYSE:GNW)

KLP Kapitalforvaltning AS raised its stake in shares of Genworth Financial, Inc. (NYSE:GNW) by 33.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 119,800 shares of the financial services provider’s stock after buying an additional 30,000 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Genworth Financial were worth $849,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Genworth Financial in the fourth quarter valued at $15,034,000. Boone Capital Management LLC acquired a new position in Genworth Financial in the 4th quarter valued at about $10,741,000. Nuveen Asset Management LLC lifted its holdings in Genworth Financial by 106.9% in the 4th quarter. Nuveen Asset Management LLC now owns 2,663,077 shares of the financial services provider’s stock valued at $18,615,000 after purchasing an additional 1,375,637 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Genworth Financial during the 4th quarter worth about $7,496,000. Finally, Donald Smith & CO. Inc. boosted its stake in shares of Genworth Financial by 3.7% during the 4th quarter. Donald Smith & CO. Inc. now owns 25,949,469 shares of the financial services provider’s stock worth $181,387,000 after purchasing an additional 934,175 shares during the last quarter. Hedge funds and other institutional investors own 81.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Genworth Financial from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Keefe, Bruyette & Woods boosted their price target on Genworth Financial from $9.00 to $9.50 and gave the company an “outperform” rating in a report on Wednesday, July 9th.

Genworth Financial Trading Up 1.4%

NYSE GNW opened at $8.12 on Tuesday. Genworth Financial, Inc. has a 12 month low of $5.99 and a 12 month high of $8.17. The company has a 50-day moving average of $7.36 and a 200-day moving average of $7.06. The company has a market cap of $3.36 billion, a P/E ratio of 16.23 and a beta of 1.06. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.29 and a quick ratio of 0.29.

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

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.