JPMorgan Chase & Co. Acquires 450,329 Shares of Genworth Financial, Inc. (NYSE:GNW)

JPMorgan Chase & Co. lifted its holdings in shares of Genworth Financial, Inc. (NYSE:GNW) by 30.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,947,016 shares of the financial services provider’s stock after purchasing an additional 450,329 shares during the quarter. JPMorgan Chase & Co. owned 0.46% of Genworth Financial worth $13,337,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Verition Fund Management LLC grew its position in Genworth Financial by 900.7% during the third quarter. Verition Fund Management LLC now owns 970,185 shares of the financial services provider’s stock worth $6,646,000 after buying an additional 873,237 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Genworth Financial by 19.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,171,821 shares of the financial services provider’s stock worth $14,877,000 after purchasing an additional 348,627 shares in the last quarter. Donald Smith & CO. Inc. grew its holdings in shares of Genworth Financial by 3.7% during the 3rd quarter. Donald Smith & CO. Inc. now owns 25,015,294 shares of the financial services provider’s stock worth $171,355,000 after purchasing an additional 901,485 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Genworth Financial by 155.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 431,129 shares of the financial services provider’s stock worth $2,953,000 after purchasing an additional 262,027 shares during the period. Finally, Barclays PLC raised its stake in Genworth Financial by 291.2% in the third quarter. Barclays PLC now owns 744,853 shares of the financial services provider’s stock valued at $5,103,000 after purchasing an additional 554,462 shares in the last quarter. 81.85% of the stock is owned by institutional investors.

Genworth Financial Stock Performance

Shares of NYSE:GNW opened at $6.56 on Friday. Genworth Financial, Inc. has a 1 year low of $5.67 and a 1 year high of $7.90. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of 31.24 and a beta of 1.00. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.29 and a quick ratio of 0.29. The company’s 50 day simple moving average is $7.26 and its 200 day simple moving average is $6.87.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Genworth Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th.

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.