Systematic Financial Management LP Grows Stake in Genworth Financial Inc (GNW)

Systematic Financial Management LP grew its holdings in Genworth Financial Inc (NYSE:GNW) by 13.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 455,450 shares of the financial services provider’s stock after purchasing an additional 52,665 shares during the quarter. Systematic Financial Management LP owned approximately 0.09% of Genworth Financial worth $1,717,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in GNW. BlackRock Inc. grew its position in shares of Genworth Financial by 9,605.2% in the first quarter. BlackRock Inc. now owns 48,718,954 shares of the financial services provider’s stock valued at $200,723,000 after purchasing an additional 48,216,968 shares during the last quarter. Southpoint Capital Advisors LP acquired a new stake in shares of Genworth Financial in the first quarter valued at approximately $25,192,000. Prudential Financial Inc. grew its position in shares of Genworth Financial by 35.1% in the first quarter. Prudential Financial Inc. now owns 5,409,753 shares of the financial services provider’s stock valued at $22,289,000 after purchasing an additional 1,406,640 shares during the last quarter. Saba Capital Management L.P. grew its position in shares of Genworth Financial by 84.8% in the first quarter. Saba Capital Management L.P. now owns 2,588,820 shares of the financial services provider’s stock valued at $10,666,000 after purchasing an additional 1,187,801 shares during the last quarter. Finally, FMR LLC grew its position in shares of Genworth Financial by 6.8% in the first quarter. FMR LLC now owns 17,256,792 shares of the financial services provider’s stock valued at $71,098,000 after purchasing an additional 1,096,921 shares during the last quarter. Institutional investors and hedge funds own 67.59% of the company’s stock.

Genworth Financial Inc (NYSE:GNW) opened at 4.00 on Friday. The stock’s market cap is $2.00 billion. The company’s 50 day moving average is $3.52 and its 200 day moving average is $3.73. Genworth Financial Inc has a 52 week low of $3.23 and a 52 week high of $5.27.

Genworth Financial (NYSE:GNW) last released its earnings results on Tuesday, August 1st. The financial services provider reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.08. The business had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.14 billion. Genworth Financial had a negative net margin of 1.66% and a negative return on equity of 1.63%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the firm posted $0.39 earnings per share. Equities analysts predict that Genworth Financial Inc will post $1.03 earnings per share for the current year.

TRADEMARK VIOLATION WARNING: “Systematic Financial Management LP Grows Stake in Genworth Financial Inc (GNW)” was originally posted by Chaffey Breeze and is owned by of Chaffey Breeze. If you are viewing this article on another publication, it was illegally stolen and reposted in violation of United States & international trademark and copyright legislation. The original version of this article can be viewed at https://www.chaffeybreeze.com/2017/09/16/systematic-financial-management-lp-grows-stake-in-genworth-financial-inc-gnw.html.

Several research firms have recently commented on GNW. BTIG Research reiterated a “neutral” rating on shares of Genworth Financial in a research report on Saturday. Off Wall Street began coverage on shares of Genworth Financial in a research report on Monday, September 11th. They issued a “buy” rating on the stock. Zacks Investment Research upgraded shares of Genworth Financial from a “hold” rating to a “buy” rating and set a $4.00 price target on the stock in a research report on Tuesday, September 5th. ValuEngine upgraded shares of Genworth Financial from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Finally, BidaskClub lowered shares of Genworth Financial from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. Genworth Financial presently has an average rating of “Hold” and an average target price of $4.27.

About Genworth Financial

Genworth Financial, Inc (Genworth) is a financial security company. The Company provides insurance, wealth management, investment and financial solutions. As of December 31, 2011, the Company had more than 15 million customers, with a presence in more than 25 countries. The Company operates in Insurance, Mortgage Insurance and Corporate and Runoff.

Institutional Ownership by Quarter for Genworth Financial (NYSE:GNW)

Receive News & Ratings for Genworth Financial Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genworth Financial Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply