Genworth Financial (NYSE:GNW) Lifted 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 report published on Monday.

Genworth Financial Stock Performance

Shares of GNW stock opened at $6.90 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.29 and a current ratio of 0.29. Genworth Financial has a fifty-two week low of $5.32 and a fifty-two week high of $7.25. The company has a market capitalization of $3.02 billion, a P/E ratio of 36.32 and a beta of 0.94. The stock has a 50 day moving average price of $6.86 and a two-hundred day moving average price of $6.48.

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 business 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 period last year, the business earned $0.29 EPS.

Insiders Place Their Bets

In other news, CEO Thomas J. Mcinerney sold 150,000 shares of the business’s 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 sale, the chief executive officer now owns 4,532,954 shares in the company, valued at approximately $31,186,723.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GNW. Assenagon Asset Management S.A. increased its holdings in shares of Genworth Financial by 8.8% during the third quarter. Assenagon Asset Management S.A. now owns 4,605,054 shares of the financial services provider’s stock valued at $31,545,000 after acquiring an additional 371,513 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Genworth Financial by 0.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 912,090 shares of the financial services provider’s stock valued at $6,248,000 after purchasing an additional 7,502 shares in the last quarter. Blue Trust Inc. increased its stake in Genworth Financial by 47.6% during the 3rd quarter. Blue Trust Inc. now owns 19,018 shares of the financial services provider’s stock valued at $130,000 after purchasing an additional 6,130 shares in the last quarter. nVerses Capital LLC raised its holdings in Genworth Financial by 106.4% in the third quarter. nVerses Capital LLC now owns 29,100 shares of the financial services provider’s stock worth $199,000 after buying an additional 15,000 shares during the last quarter. Finally, Inspire Investing LLC lifted its stake in shares of Genworth Financial by 4.8% in the third quarter. Inspire Investing LLC now owns 60,633 shares of the financial services provider’s stock worth $415,000 after buying an additional 2,798 shares in the last quarter. Institutional investors own 81.85% of the company’s stock.

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.