Genworth Financial, Inc. (NYSE:GNW) Short Interest Up 22.4% in January

Genworth Financial, Inc. (NYSE:GNW) was the target of a significant increase in short interest in the month of January. As of January 15th, there was short interest totaling 7,680,151 shares, an increase of 22.4% from the December 31st total of 6,276,623 shares. Based on an average daily trading volume, of 4,435,598 shares, the short-interest ratio is currently 1.7 days. Approximately 2.0% of the company’s shares are short sold. Approximately 2.0% of the company’s shares are short sold. Based on an average daily trading volume, of 4,435,598 shares, the short-interest ratio is currently 1.7 days.

Hedge Funds Weigh In On Genworth Financial

Institutional investors and hedge funds have recently made changes to their positions in the business. Truist Financial Corp raised its position in Genworth Financial by 9.6% in the 4th quarter. Truist Financial Corp now owns 14,342 shares of the financial services provider’s stock worth $130,000 after purchasing an additional 1,257 shares during the period. Arizona State Retirement System raised its holdings in shares of Genworth Financial by 1.0% in the 3rd quarter. Arizona State Retirement System now owns 122,642 shares of the financial services provider’s stock valued at $1,092,000 after purchasing an additional 1,271 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in Genworth Financial by 12.7% in the third quarter. Smartleaf Asset Management LLC now owns 11,638 shares of the financial services provider’s stock worth $104,000 after buying an additional 1,316 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Genworth Financial by 9.1% during the third quarter. Nisa Investment Advisors LLC now owns 16,848 shares of the financial services provider’s stock valued at $150,000 after purchasing an additional 1,408 shares in the last quarter. Finally, Bessemer Group Inc. boosted its holdings in shares of Genworth Financial by 60.6% in the 3rd quarter. Bessemer Group Inc. now owns 3,830 shares of the financial services provider’s stock valued at $34,000 after buying an additional 1,445 shares in the last quarter. 81.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GNW. Keefe, Bruyette & Woods boosted their target price on Genworth Financial from $9.50 to $10.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. Wall Street Zen upgraded Genworth Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Finally, Weiss Ratings lowered shares of Genworth Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, January 20th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Genworth Financial presently has a consensus rating of “Moderate Buy” and an average price target of $10.00.

Genworth Financial Price Performance

Shares of GNW opened at $8.48 on Wednesday. The firm has a market cap of $3.38 billion, a PE ratio of 15.99 and a beta of 1.01. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.15. Genworth Financial has a 1-year low of $5.99 and a 1-year high of $9.28. The firm has a fifty day simple moving average of $8.73 and a two-hundred day simple moving average of $8.58.

Genworth Financial (NYSE:GNW) last announced its earnings results on Wednesday, November 5th. The financial services provider reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The company had revenue of $1.04 billion during the quarter. Genworth Financial had a return on equity of 1.56% and a net margin of 3.01%.

Genworth Financial Company 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.