Stock Traders Buy High Volume of Genworth Financial Call Options (NYSE:GNW)

Genworth Financial, Inc. (NYSE:GNW) was the target of unusually large options trading on Tuesday. Stock investors acquired 8,266 call options on the company. This represents an increase of approximately 877% compared to the typical daily volume of 846 call options.

Hedge Funds Weigh In On Genworth Financial

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new position in Genworth Financial during the 4th quarter worth approximately $23,292,000. Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in Genworth Financial during the fourth quarter worth $22,482,000. Donald Smith & CO. Inc. grew its position in shares of Genworth Financial by 18.3% during the 4th quarter. Donald Smith & CO. Inc. now owns 21,175,252 shares of the financial services provider’s stock worth $141,451,000 after buying an additional 3,283,110 shares during the period. LSV Asset Management increased its stake in shares of Genworth Financial by 15.9% in the 4th quarter. LSV Asset Management now owns 5,821,232 shares of the financial services provider’s stock valued at $38,886,000 after acquiring an additional 797,278 shares in the last quarter. Finally, WINTON GROUP Ltd lifted its position in shares of Genworth Financial by 617.7% during the 3rd quarter. WINTON GROUP Ltd now owns 666,047 shares of the financial services provider’s stock valued at $3,903,000 after acquiring an additional 573,249 shares during the period. 81.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods upped their price objective on Genworth Financial from $6.50 to $7.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th.

Genworth Financial Price Performance

GNW stock opened at $6.63 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.30 and a current ratio of 0.29. Genworth Financial has a 52-week low of $4.83 and a 52-week high of $6.93. The company has a market capitalization of $2.90 billion, a P/E ratio of 34.87 and a beta of 1.08. The company has a fifty day moving average price of $6.22 and a 200-day moving average price of $6.20.

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

Genworth Financial Company Profile

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.