Short Interest in Genworth Financial, Inc. (NYSE:GNW) Drops By 18.2%

Genworth Financial, Inc. (NYSE:GNW) was the recipient of a significant decline in short interest in December. As of December 31st, there was short interest totaling 6,276,623 shares, a decline of 18.2% from the December 15th total of 7,675,906 shares. Based on an average daily trading volume, of 3,378,459 shares, the days-to-cover ratio is presently 1.9 days. Approximately 1.6% of the shares of the stock are short sold. Approximately 1.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 3,378,459 shares, the days-to-cover ratio is presently 1.9 days.

Hedge Funds Weigh In On Genworth Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Salomon & Ludwin LLC lifted its holdings in shares of Genworth Financial by 1,731.8% in the third quarter. Salomon & Ludwin LLC now owns 3,279 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 3,100 shares in the last quarter. Bessemer Group Inc. raised its position in shares of Genworth Financial by 60.6% during the 3rd quarter. Bessemer Group Inc. now owns 3,830 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 1,445 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Genworth Financial in the 2nd quarter valued at approximately $44,000. Larson Financial Group LLC lifted its stake in Genworth Financial by 12,597.7% in the 3rd quarter. Larson Financial Group LLC now owns 5,587 shares of the financial services provider’s stock valued at $50,000 after buying an additional 5,543 shares in the last quarter. Finally, Danske Bank A S acquired a new stake in Genworth Financial during the 3rd quarter valued at $60,000. Institutional investors and hedge funds own 81.85% of the company’s stock.

Genworth Financial Price Performance

GNW traded up $0.08 during trading on Monday, reaching $8.38. 5,160,202 shares of the stock were exchanged, compared to its average volume of 3,412,539. The business’s 50 day moving average price is $8.79 and its two-hundred day moving average price is $8.51. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.29 and a quick ratio of 0.29. The company has a market capitalization of $3.35 billion, a price-to-earnings ratio of 15.81 and a beta of 1.06. Genworth Financial has a 1 year low of $5.99 and a 1 year high of $9.28.

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on GNW shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Genworth Financial in a research report on Monday, December 29th. Keefe, Bruyette & Woods increased their price target on shares of Genworth Financial from $9.50 to $10.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Finally, Wall Street Zen upgraded shares of Genworth Financial from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $10.00.

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.