Genworth Financial (NYSE:GNW) Downgraded 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 issued to investors on Tuesday morning.

Genworth Financial Stock Up 0.2 %

Shares of GNW opened at $6.82 on Tuesday. The company has a market capitalization of $2.98 billion, a PE ratio of 35.87 and a beta of 0.94. Genworth Financial has a 12 month low of $5.32 and a 12 month high of $7.25. The stock’s 50-day moving average price is $6.86 and its two-hundred day moving average price is $6.49. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.17.

Genworth Financial (NYSE:GNW) last announced 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. The firm had revenue of $1.77 billion for the quarter. Genworth Financial had a return on equity of 0.25% and a net margin of 0.43%. During the same period in the previous year, the firm posted $0.29 earnings per share.

Insider Activity

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in GNW. First Trust Direct Indexing L.P. increased its position in Genworth Financial by 9.9% in the 1st quarter. First Trust Direct Indexing L.P. now owns 19,670 shares of the financial services provider’s stock valued at $126,000 after buying an additional 1,780 shares in the last quarter. Commonwealth Equity Services LLC increased its position in Genworth Financial by 1.3% in the 1st quarter. Commonwealth Equity Services LLC now owns 306,136 shares of the financial services provider’s stock valued at $1,968,000 after buying an additional 3,900 shares in the last quarter. BNP Paribas Financial Markets increased its position in Genworth Financial by 61.0% in the 1st quarter. BNP Paribas Financial Markets now owns 226,534 shares of the financial services provider’s stock valued at $1,457,000 after buying an additional 85,867 shares in the last quarter. Daiwa Securities Group Inc. increased its position in Genworth Financial by 608.2% in the 1st quarter. Daiwa Securities Group Inc. now owns 34,700 shares of the financial services provider’s stock valued at $223,000 after buying an additional 29,800 shares in the last quarter. Finally, GSA Capital Partners LLP increased its position in Genworth Financial by 105.1% in the 1st quarter. GSA Capital Partners LLP now owns 129,099 shares of the financial services provider’s stock valued at $830,000 after buying an additional 66,146 shares in the last quarter. 81.85% of the stock is owned by institutional investors and hedge funds.

About Genworth Financial

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.