Evolution Advisers Inc. Grows Position in Genworth Financial, Inc. (NYSE:GNW)

Evolution Advisers Inc. boosted its holdings in Genworth Financial, Inc. (NYSE:GNW) by 170.7% in the 1st quarter, HoldingsChannel reports. The fund owned 41,111 shares of the financial services provider’s stock after acquiring an additional 25,922 shares during the quarter. Evolution Advisers Inc.’s holdings in Genworth Financial were worth $265,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of GNW. Seven Eight Capital LP purchased a new position in Genworth Financial in the third quarter worth $94,000. American Century Companies Inc. increased its position in shares of Genworth Financial by 10.2% in the third quarter. American Century Companies Inc. now owns 5,209,312 shares of the financial services provider’s stock valued at $30,527,000 after buying an additional 481,059 shares in the last quarter. Diversified Trust Co purchased a new position in shares of Genworth Financial in the fourth quarter valued at $260,000. CoreCap Advisors LLC purchased a new position in shares of Genworth Financial in the fourth quarter valued at $278,000. Finally, Assenagon Asset Management S.A. increased its position in shares of Genworth Financial by 21.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,806,350 shares of the financial services provider’s stock valued at $12,066,000 after buying an additional 316,780 shares in the last quarter. Hedge funds and other institutional investors own 81.85% of the company’s stock.

Genworth Financial Price Performance

Shares of GNW traded up $0.16 during trading hours on Thursday, reaching $6.18. 3,293,492 shares of the company traded hands, compared to its average volume of 2,795,897. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $2.71 billion, a PE ratio of 31.74 and a beta of 0.92. Genworth Financial, Inc. has a fifty-two week low of $5.32 and a fifty-two week high of $6.93. The stock has a fifty day simple moving average of $6.26 and a 200 day simple moving average of $6.25.

Genworth Financial (NYSE:GNW) last posted its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $0.19 EPS for the quarter. The business had revenue of $1.86 billion for the quarter. Genworth Financial had a negative return on equity of 0.21% and a net margin of 1.24%.

Insider Activity at Genworth Financial

In other Genworth Financial news, CEO Thomas J. Mcinerney sold 200,000 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $6.27, for a total value of $1,254,000.00. Following the sale, the chief executive officer now directly owns 4,361,980 shares of the company’s stock, valued at approximately $27,349,614.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods raised their price target on Genworth Financial from $6.50 to $7.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th.

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.