Shah Capital Management purchased a new position in shares of Genworth Financial Inc (NYSE:GNW) during the fourth quarter, according to its most recent filing with the SEC. The hedge fund purchased 3,147,700 shares of the company’s stock, valued at approximately $11,740,000. Genworth Financial accounts for about 10.9% of Shah Capital Management’s portfolio, making the stock its 4th largest position. Shah Capital Management owned approximately 0.63% of Genworth Financial at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Stanley Capital Management increased its position in shares of Genworth Financial by 279.3% in the third quarter. Stanley Capital Management now owns 554,902 shares of the company’s stock worth $2,564,000 after buying an additional 408,600 shares during the period. IMS Capital Management bought a new position in shares of Genworth Financial during the fourth quarter worth $609,000. Finally, Saba Capital Management increased its position in shares of Genworth Financial by 17.1% in the third quarter. Saba Capital Management now owns 547,258 shares of the company’s stock worth $2,528,000 after buying an additional 80,000 shares during the period.

Shares of Genworth Financial Inc (NYSE:GNW) opened at 2.22 on Tuesday. The stock’s market capitalization is $1.10 billion. Genworth Financial Inc has a 52 week low of $2.20 and a 52 week high of $9.19. The stock has a 50 day moving average of $3.36 and a 200-day moving average of $4.89.

Genworth Financial (NYSE:GNW) last issued its quarterly earnings data on Thursday, October 29th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by $0.09. The firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.19 billion. The firm’s revenue was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.70) earnings per share. On average, equities research analysts expect that Genworth Financial Inc will post $0.89 EPS for the current year.

A number of research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Genworth Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, October 13th. JPMorgan Chase & Co. upgraded shares of Genworth Financial to a “buy” rating in a research report on Sunday, October 18th. Keefe, Bruyette & Woods decreased their price target on shares of Genworth Financial from $6.00 to $5.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 17th. Goldman Sachs assumed coverage on shares of Genworth Financial in a research report on Tuesday, November 17th. They issued a “neutral” rating and a $5.00 price target on the stock. Finally, BTIG Research reiterated a “buy” rating and issued a $13.00 price target on shares of Genworth Financial in a research report on Friday, October 23rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. Genworth Financial has a consensus rating of “Hold” and a consensus target price of $7.78.

Genworth Financial, Inc. (NYSE:GNW) 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. The Mortgage Insurance Division includes the business segments, such as International Mortgage Insurance and U.S. Mortgage Insurance. The Corporate and Runoff Division includes the Runoff segment and Corporate and Other activities. In September 2013, Genworth Financial, Inc closed the sale of its Wealth Management business, including Genworth Financial Wealth Management and alternative solutions provider, the Altegris companies, to a partnership of Aquiline Capital Partners and Genstar Capital.

12 Month Chart for NYSE:GNW

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