Comerica Bank Purchases 247,601 Shares of Genworth Financial, Inc. $GNW

Comerica Bank lifted its position in shares of Genworth Financial, Inc. (NYSE:GNW) by 72.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 589,535 shares of the financial services provider’s stock after acquiring an additional 247,601 shares during the quarter. Comerica Bank’s holdings in Genworth Financial were worth $5,324,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in GNW. Royal Bank of Canada grew its stake in shares of Genworth Financial by 75.8% during the 1st quarter. Royal Bank of Canada now owns 118,058 shares of the financial services provider’s stock worth $837,000 after acquiring an additional 50,911 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Genworth Financial by 2.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 252,152 shares of the financial services provider’s stock worth $1,788,000 after acquiring an additional 7,106 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Genworth Financial by 4.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,184,144 shares of the financial services provider’s stock worth $8,396,000 after acquiring an additional 55,071 shares during the period. Strs Ohio bought a new position in shares of Genworth Financial during the 1st quarter worth $82,000. Finally, Invesco Ltd. grew its stake in shares of Genworth Financial by 41.0% during the 2nd quarter. Invesco Ltd. now owns 4,291,220 shares of the financial services provider’s stock worth $33,386,000 after acquiring an additional 1,248,374 shares during the period. Institutional investors own 81.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GNW. Wall Street Zen downgraded Genworth Financial from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Keefe, Bruyette & Woods reissued a “moderate buy” rating and set a $10.50 price objective on shares of Genworth Financial in a report on Thursday, March 26th. Finally, Weiss Ratings raised Genworth Financial from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Genworth Financial has a consensus rating of “Moderate Buy” and a consensus price target of $10.50.

Genworth Financial Stock Performance

Shares of GNW opened at $8.82 on Friday. The stock’s 50-day simple moving average is $8.46 and its 200 day simple moving average is $8.61. The stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of 16.63 and a beta of 0.89. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.29 and a current ratio of 0.29. Genworth Financial, Inc. has a 52-week low of $6.63 and a 52-week high of $9.28.

Genworth Financial (NYSE:GNW) last released its quarterly earnings results on Monday, February 23rd. The financial services provider reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.14). Genworth Financial had a net margin of 3.05% and a return on equity of 1.48%. The business had revenue of $1.04 billion during the quarter.

Genworth Financial Profile

Genworth Financial (NYSE: GNW) is a leading financial security company offering a broad range of insurance products. Based in Richmond, Virginia, Genworth provides individuals and families with solutions designed to protect against long-term care expenses, secure life insurance needs and support homeownership through private mortgage insurance. With operations spanning the United States, Canada and Australia, the company serves both retail and institutional clients through a diversified portfolio of risk management services.

The company’s Private Mortgage Insurance (PMI) segment offers coverage to lenders and consumers in the US, Canada and Australia, enabling homebuyers to purchase properties with lower down payments.