Genworth Financial is getting a bump, albeit it a small one, from Warren Buffett’s largesse.

Around midday its stock was trading at $7.51/share, up from about $4.50/share on Tuesday.

Genworth appears to be benefiting from The Sage of Omaha’s bottom fishing bets on General Electric, which once owned Genworth. According to a deal announced yesterday, Buffett gets $3 billion in preferred GE stock paying $300 million in annual dividends and gets rights to buy $3 billion in GE common stock at $22.25 a share.

Buffett’s moves, conducted through his Berkshire Hathaway investment firm, are inspiring confidence that Buffett thinks that GE will survive the current financial crisis and prosper. He also may put $2 billion in Goldman Sachs.

His plays plus the U.S. Senate’s bailout plan are inspiring a little confidence during these dark days.

Meanwhile, Richmond-based Genworth is studying spinning off its U.S. Mortgage Insurance business. GNW’s 52-week stock high is $32/share.