Investors Purchase High Volume of Genworth Financial Call Options (NYSE:GNW)

Genworth Financial, Inc. (NYSE:GNW) saw some unusual options trading on Monday. Traders bought 6,079 call options on the stock. This is an increase of 547% compared to the typical volume of 940 call options.

Hedge Funds Weigh In On Genworth Financial

Hedge funds and other institutional investors have recently made changes to their positions in the business. Illinois Municipal Retirement Fund acquired a new position in shares of Genworth Financial during the third quarter worth approximately $1,666,000. AQR Capital Management LLC boosted its position in shares of Genworth Financial by 14.2% during the third quarter. AQR Capital Management LLC now owns 1,752,247 shares of the financial services provider’s stock worth $10,268,000 after buying an additional 217,556 shares during the period. Invesco Ltd. boosted its position in shares of Genworth Financial by 7.2% during the third quarter. Invesco Ltd. now owns 5,234,864 shares of the financial services provider’s stock worth $30,676,000 after buying an additional 350,729 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in shares of Genworth Financial during the fourth quarter worth approximately $22,482,000. Finally, Exchange Traded Concepts LLC lifted its position in Genworth Financial by 361.4% in the third quarter. Exchange Traded Concepts LLC now owns 160,914 shares of the financial services provider’s stock worth $943,000 after purchasing an additional 126,037 shares during the period. 81.85% of the stock is currently owned by institutional investors and hedge funds.

Genworth Financial Stock Up 1.2 %

NYSE:GNW opened at $6.09 on Wednesday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.19. The stock has a 50 day moving average of $6.19 and a 200-day moving average of $6.18. The firm has a market capitalization of $2.67 billion, a PE ratio of -608,500.00 and a beta of 1.06. Genworth Financial has a 52 week low of $4.51 and a 52 week high of $6.93.

Genworth Financial (NYSE:GNW) last issued its quarterly earnings data on Wednesday, February 21st. The financial services provider reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.70). The business had revenue of $1.91 billion for the quarter. Genworth Financial had a negative return on equity of 0.23% and a net margin of 0.21%. During the same period in the previous year, the company posted $0.35 EPS.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods upped their target price on Genworth Financial from $6.50 to $7.00 and gave the company a “market perform” rating in a 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.