Genworth Financial Target of Unusually High Options Trading (NYSE:GNW)

Genworth Financial, Inc. (NYSE:GNW) saw unusually large options trading activity on Tuesday. Traders purchased 8,266 call options on the company. This is an increase of 877% compared to the average daily volume of 846 call options.

Genworth Financial Trading Down 0.6 %

Shares of GNW stock traded down $0.04 during mid-day trading on Tuesday, reaching $6.62. The stock had a trading volume of 908,282 shares, compared to its average volume of 2,788,790. The stock’s 50-day moving average price is $6.20 and its two-hundred day moving average price is $6.19. Genworth Financial has a 52-week low of $4.83 and a 52-week high of $6.93. The firm has a market capitalization of $2.91 billion, a PE ratio of 35.08 and a beta of 1.08. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.18.

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

Institutional Investors Weigh In On Genworth Financial

Several hedge funds have recently bought and sold shares of GNW. Activest Wealth Management bought a new position in shares of Genworth Financial in the first quarter worth approximately $31,000. Daiwa Securities Group Inc. purchased a new position in Genworth Financial during the fourth quarter valued at $33,000. GAMMA Investing LLC bought a new stake in Genworth Financial during the fourth quarter valued at about $56,000. Nomura Asset Management Co. Ltd. increased its position in Genworth Financial by 29.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 8,700 shares of the financial services provider’s stock worth $58,000 after buying an additional 2,000 shares in the last quarter. Finally, Empowered Funds LLC bought a new stake in Genworth Financial during the 1st quarter worth approximately $67,000. Institutional investors own 81.85% of the company’s stock.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods lifted their target price on shares of Genworth Financial from $6.50 to $7.00 and gave the stock 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.