Genworth Financial (NYSE:GNW) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Genworth Financial (NYSE:GNW) from a hold rating to a buy rating in a research report sent to investors on Monday morning.

Genworth Financial Stock Performance

Shares of GNW opened at $6.99 on Monday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.17. The stock has a market cap of $3.06 billion, a P/E ratio of 36.79 and a beta of 0.94. The business’s 50 day moving average price is $6.84 and its 200-day moving average price is $6.47. Genworth Financial has a 52 week low of $5.32 and a 52 week high of $7.25.

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

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 sale, the chief executive officer now owns 4,532,954 shares in the company, valued at $31,186,723.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.80% of the stock is owned by company insiders.

Institutional Trading of Genworth Financial

Several institutional investors have recently added to or reduced their stakes in the business. Donald Smith & CO. Inc. lifted its holdings in shares of Genworth Financial by 14.5% during the first quarter. Donald Smith & CO. Inc. now owns 24,244,607 shares of the financial services provider’s stock valued at $155,893,000 after purchasing an additional 3,069,355 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Genworth Financial by 9.1% during the 2nd quarter. American Century Companies Inc. now owns 7,054,069 shares of the financial services provider’s stock valued at $42,607,000 after acquiring an additional 590,496 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Genworth Financial by 138.3% in the second quarter. Assenagon Asset Management S.A. now owns 4,233,541 shares of the financial services provider’s stock worth $25,571,000 after acquiring an additional 2,456,816 shares during the period. D. E. Shaw & Co. Inc. raised its holdings in shares of Genworth Financial by 93.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 4,052,621 shares of the financial services provider’s stock valued at $24,478,000 after purchasing an additional 1,958,632 shares during the last quarter. Finally, Millennium Management LLC lifted its position in Genworth Financial by 51.5% during the second quarter. Millennium Management LLC now owns 2,778,921 shares of the financial services provider’s stock valued at $16,785,000 after purchasing an additional 944,677 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.