Genworth Financial (NYSE:GNW) Rating Lowered to Hold at StockNews.com

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

Genworth Financial Stock Up 2.0 %

Shares of NYSE:GNW opened at $7.77 on Wednesday. The business’s 50 day moving average is $7.00 and its 200 day moving average is $6.63. The stock has a market cap of $3.32 billion, a P/E ratio of 36.98 and a beta of 0.95. Genworth Financial has a 52-week low of $5.67 and a 52-week high of $7.77. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.17.

Insider Buying and Selling at Genworth Financial

In other news, CEO Thomas J. Mcinerney sold 150,000 shares of the stock in a transaction that occurred 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 directly owns 4,532,954 shares in the company, valued at approximately $31,186,723.52. This trade represents a 3.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in GNW. Barclays PLC grew its position in shares of Genworth Financial by 291.2% in the 3rd quarter. Barclays PLC now owns 744,853 shares of the financial services provider’s stock worth $5,103,000 after buying an additional 554,462 shares during the last quarter. Y Intercept Hong Kong Ltd grew its holdings in shares of Genworth Financial by 12.5% during the third quarter. Y Intercept Hong Kong Ltd now owns 117,351 shares of the financial services provider’s stock valued at $804,000 after buying an additional 13,042 shares during the last quarter. XTX Topco Ltd increased its position in shares of Genworth Financial by 33.4% in the 3rd quarter. XTX Topco Ltd now owns 125,438 shares of the financial services provider’s stock valued at $859,000 after acquiring an additional 31,379 shares during the period. Kovitz Investment Group Partners LLC purchased a new position in Genworth Financial in the 3rd quarter worth $142,000. Finally, Whitefort Capital Management LP lifted its position in Genworth Financial by 49.6% during the 3rd quarter. Whitefort Capital Management LP now owns 2,986,960 shares of the financial services provider’s stock worth $20,461,000 after acquiring an additional 990,000 shares during the period. 81.85% of the stock is currently owned by hedge funds and other institutional investors.

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.