10 Best Single Digit Stocks To Buy Now

6. Genworth Financial, Inc. (NYSE:GNW)

Share Price as of December 27: $6.97

Number of Hedge Fund Holders: 33

Genworth Financial, Inc. (NYSE:GNW) is a financial services company that provides life insurance, long-term care insurance, mortgage insurance, and annuities. It is one of the best single digit stocks to buy now.

The company is making substantial gains on its strategic objectives. During its recent Q3 2024 earnings call on November 6, GNW announced that it had expanded the CareScout Quality Network to 49 states, covering over three-fourths of the population aged 65 and above. It was confident of achieving around 85% of geographic coverage of people belonging to this age group by the end of 2024.

GNW also made great progress on the LTC multi-year rate action plan (MYRAP). It secured $124 million in gross premium approvals during the quarter, with an average premium increase of 53%. The cumulative progress stood at nearly $30 billion on a net present value basis since 2012.

Genworth Financial, Inc. (NYSE:GNW) reported a net income of $85 million, or 19 cents per share, in Q3, driven by a robust performance by its mortgage insurance division, Enact, which had an adjusted operating income of $148 million. GNW ended the quarter with $369 million of cash and liquid assets, reflecting solid liquidity.

According to Insider Monkey’s database for Q3 2024, 33 hedge funds had investments in the company. As of September 30, 2024, the largest stake in Genworth Financial, Inc. (NYSE:GNW) was held by D.E. Shaw, valued at over $28.36 million.