Genworth Financial (NYSE:GNW) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Genworth Financial (NYSE:GNW) from a buy rating to a hold rating in a research note published on Tuesday.

Genworth Financial Price Performance

Genworth Financial stock opened at $6.74 on Tuesday. The firm has a market capitalization of $2.91 billion, a P/E ratio of 96.21 and a beta of 0.94. Genworth Financial has a one year low of $5.32 and a one year high of $7.25. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.29 and a quick ratio of 0.29. The business has a fifty day moving average price of $6.87 and a 200-day moving average price of $6.50.

Genworth Financial (NYSE:GNW) last released its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.09. Genworth Financial had a net margin of 0.43% and a return on equity of 0.25%. The company had revenue of $1.77 billion during the quarter. During the same quarter last year, the business posted $0.29 earnings per share.

Insider Buying and Selling

In related news, CEO Thomas J. Mcinerney sold 150,000 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $6.88, for a total transaction of $1,032,000.00. Following the transaction, the chief executive officer now owns 4,532,954 shares of the company’s stock, valued at approximately $31,186,723.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. UniSuper Management Pty Ltd purchased a new position in shares of Genworth Financial during the first quarter valued at approximately $562,000. Assenagon Asset Management S.A. increased its position in Genworth Financial by 138.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,233,541 shares of the financial services provider’s stock valued at $25,571,000 after purchasing an additional 2,456,816 shares during the period. Renaissance Technologies LLC raised its holdings in Genworth Financial by 62.0% in the 2nd quarter. Renaissance Technologies LLC now owns 548,900 shares of the financial services provider’s stock worth $3,315,000 after purchasing an additional 210,000 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Genworth Financial by 0.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 912,090 shares of the financial services provider’s stock worth $6,248,000 after purchasing an additional 7,502 shares in the last quarter. Finally, Donald Smith & CO. Inc. lifted its position in shares of Genworth Financial by 3.7% in the 3rd quarter. Donald Smith & CO. Inc. now owns 25,015,294 shares of the financial services provider’s stock worth $171,355,000 after purchasing an additional 901,485 shares during the period. Institutional investors own 81.85% of the company’s stock.

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.