Traders Buy Large Volume of Call Options on Genworth Financial (NYSE:GNW)

Genworth Financial, Inc. (NYSE:GNW) was the target of unusually large options trading on Thursday. Stock investors purchased 4,564 call options on the company. This is an increase of 140% compared to the typical volume of 1,904 call options.

Institutional Trading of Genworth Financial

Hedge funds and other institutional investors have recently modified their holdings of the business. Harbor Capital Advisors Inc. acquired a new stake in shares of Genworth Financial during the 3rd quarter worth about $30,000. Byrne Asset Management LLC grew its position in Genworth Financial by 148.9% in the 4th quarter. Byrne Asset Management LLC now owns 4,480 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 2,680 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in Genworth Financial in the 4th quarter valued at about $41,000. Smartleaf Asset Management LLC grew its position in Genworth Financial by 279.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 10,494 shares of the financial services provider’s stock valued at $73,000 after acquiring an additional 7,729 shares in the last quarter. Finally, LMR Partners LLP acquired a new position in Genworth Financial in the 3rd quarter valued at about $73,000. 81.85% of the stock is owned by institutional investors and hedge funds.

Genworth Financial Stock Up 1.6 %

Shares of NYSE:GNW opened at $6.84 on Friday. The business has a 50-day moving average price of $7.03 and a 200 day moving average price of $7.04. 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 company has a market capitalization of $2.92 billion, a price-to-earnings ratio of 10.05 and a beta of 1.00. Genworth Financial has a 12-month low of $5.67 and a 12-month high of $7.90.

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

Wall Street Analysts Forecast Growth

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

Genworth Financial Company 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.