Oppenheimer & Co. Inc. Increases Holdings in Genworth Financial, Inc. (NYSE:GNW)

Oppenheimer & Co. Inc. raised its stake in shares of Genworth Financial, Inc. (NYSE:GNW) by 12.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 44,300 shares of the financial services provider’s stock after buying an additional 5,000 shares during the period. Oppenheimer & Co. Inc.’s holdings in Genworth Financial were worth $310,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Navellier & Associates Inc. raised its stake in Genworth Financial by 11.3% during the 4th quarter. Navellier & Associates Inc. now owns 27,472 shares of the financial services provider’s stock valued at $192,000 after buying an additional 2,785 shares during the last quarter. Ieq Capital LLC purchased a new stake in shares of Genworth Financial in the 4th quarter worth $142,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Genworth Financial in the 4th quarter worth $122,000. Truist Financial Corp purchased a new stake in shares of Genworth Financial in the 4th quarter worth $105,000. Finally, CIBC Asset Management Inc increased its stake in shares of Genworth Financial by 4.9% in the 4th quarter. CIBC Asset Management Inc now owns 43,219 shares of the financial services provider’s stock worth $302,000 after purchasing an additional 2,003 shares in the last quarter. 81.85% of the stock is currently owned by hedge funds and other institutional investors.

Genworth Financial Stock Up 0.2 %

GNW opened at $6.66 on Friday. The firm has a 50-day simple moving average of $6.99 and a two-hundred day simple moving average of $7.04. Genworth Financial, Inc. has a 52 week low of $5.67 and a 52 week high of $7.90. The company has a market capitalization of $2.79 billion, a PE ratio of 9.79 and a beta of 1.02. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.16.

Genworth Financial (NYSE:GNW) last released its quarterly earnings data on Tuesday, February 18th. The financial services provider reported $0.04 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.14). Genworth Financial had a net margin of 4.10% and a return on equity of 2.96%. The company had revenue of $1.82 billion for the quarter. During the same period in the previous year, the business earned ($0.51) earnings per share.

Analyst Ratings Changes

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

Genworth Financial Profile

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.