StockNews.com Downgrades Genworth Financial (NYSE:GNW) to Hold

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

Genworth Financial Trading Down 1.7 %

Genworth Financial stock opened at $6.74 on Tuesday. Genworth Financial has a 12 month low of $5.32 and a 12 month high of $7.25. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.17. The business’s fifty day simple moving average is $6.87 and its two-hundred day simple moving average is $6.50. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 96.21 and a beta of 0.94.

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

Insider Activity at Genworth Financial

In related news, CEO Thomas J. Mcinerney sold 150,000 shares of the company’s stock in a transaction that occurred on 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 approximately $31,186,723.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Genworth Financial

Institutional investors have recently modified their holdings of the business. Headlands Technologies LLC bought a new stake in shares of Genworth Financial in the first quarter worth approximately $25,000. EverSource Wealth Advisors LLC raised its stake in Genworth Financial by 72.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,828 shares of the financial services provider’s stock valued at $29,000 after buying an additional 2,022 shares during the last quarter. SageView Advisory Group LLC bought a new position in shares of Genworth Financial during the 1st quarter valued at $30,000. Harbor Capital Advisors Inc. purchased a new position in shares of Genworth Financial in the 3rd quarter worth $30,000. Finally, GAMMA Investing LLC boosted its stake in shares of Genworth Financial by 34.0% in the 3rd quarter. GAMMA Investing LLC now owns 9,247 shares of the financial services provider’s stock worth $63,000 after buying an additional 2,347 shares during the last quarter. 81.85% of the stock is owned by hedge funds and other institutional investors.

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.