Geode Capital Management LLC Buys 309,296 Shares of Genworth Financial Inc (GNW)

Geode Capital Management LLC raised its stake in shares of Genworth Financial Inc (NYSE:GNW) by 8.6% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 3,909,751 shares of the financial services provider’s stock after buying an additional 309,296 shares during the period. Geode Capital Management LLC owned about 0.78% of Genworth Financial worth $16,108,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. boosted its position in Genworth Financial by 17.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 99,786 shares of the financial services provider’s stock valued at $411,000 after buying an additional 14,980 shares during the period. Thrivent Financial For Lutherans raised its stake in shares of Genworth Financial by 10.3% in the first quarter. Thrivent Financial For Lutherans now owns 94,820 shares of the financial services provider’s stock valued at $391,000 after buying an additional 8,880 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Genworth Financial by 3.3% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 513,532 shares of the financial services provider’s stock valued at $2,116,000 after buying an additional 16,568 shares in the last quarter. FDO Partners LLC raised its stake in shares of Genworth Financial by 30.3% in the first quarter. FDO Partners LLC now owns 128,386 shares of the financial services provider’s stock valued at $529,000 after buying an additional 29,890 shares in the last quarter. Finally, Relative Value Partners Group LLC raised its stake in shares of Genworth Financial by 55.7% in the first quarter. Relative Value Partners Group LLC now owns 25,150 shares of the financial services provider’s stock valued at $103,000 after buying an additional 9,000 shares in the last quarter. 67.04% of the stock is currently owned by institutional investors.

Genworth Financial Inc (NYSE GNW) opened at 3.39 on Friday. Genworth Financial Inc has a 52 week low of $2.67 and a 52 week high of $5.27. The firm’s market cap is $1.69 billion. The stock’s 50 day moving average price is $3.60 and its 200 day moving average price is $3.77.

Genworth Financial (NYSE:GNW) last announced its earnings results on Tuesday, May 2nd. The financial services provider reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.07. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.15 billion. Genworth Financial had a negative return on equity of 1.75% and a negative net margin of 2.00%. On average, equities research analysts predict that Genworth Financial Inc will post $0.98 EPS for the current year.

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Several equities research analysts recently weighed in on GNW shares. BidaskClub lowered Genworth Financial from a “sell” rating to a “strong sell” rating in a report on Friday. ValuEngine upgraded Genworth Financial from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. BTIG Research reiterated a “neutral” rating on shares of Genworth Financial in a report on Wednesday, April 19th. Zacks Investment Research cut Genworth Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Finally, Wells Fargo & Company restated a “hold” rating on shares of Genworth Financial in a research report on Tuesday, May 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $4.17.

Genworth Financial Company Profile

Genworth Financial, Inc (Genworth) is a financial security company. The Company provides insurance, wealth management, investment and financial solutions. As of December 31, 2011, the Company had more than 15 million customers, with a presence in more than 25 countries. The Company operates in Insurance, Mortgage Insurance and Corporate and Runoff.