Genworth Financial (NYSE:GNW) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Genworth Financial (NYSE:GNW) from a buy rating to a hold rating in a report issued on Wednesday morning.

Genworth Financial Trading Up 1.9 %

Shares of GNW opened at $7.77 on Wednesday. Genworth Financial has a twelve month low of $5.67 and a twelve month high of $7.77. 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 firm has a market capitalization of $3.32 billion, a P/E ratio of 36.98 and a beta of 0.95. The firm’s 50-day moving average is $6.98 and its two-hundred day moving average is $6.62.

Insider Activity at Genworth Financial

In other Genworth Financial news, CEO Thomas J. Mcinerney sold 150,000 shares of the business’s stock in a transaction on Monday, August 26th. The stock was 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 directly owns 4,532,954 shares in the company, valued at approximately $31,186,723.52. The trade was a 3.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Genworth Financial

Several institutional investors and hedge funds have recently made changes to their positions in GNW. Hancock Whitney Corp increased its holdings in Genworth Financial by 1.0% during the 3rd quarter. Hancock Whitney Corp now owns 135,327 shares of the financial services provider’s stock valued at $927,000 after acquiring an additional 1,387 shares in the last quarter. Covestor Ltd grew its position in shares of Genworth Financial by 11.8% in the third quarter. Covestor Ltd now owns 17,721 shares of the financial services provider’s stock valued at $122,000 after purchasing an additional 1,868 shares during the last quarter. Sage Rhino Capital LLC increased its stake in shares of Genworth Financial by 9.8% during the 2nd quarter. Sage Rhino Capital LLC now owns 21,899 shares of the financial services provider’s stock worth $132,000 after purchasing an additional 1,950 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of 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 worth $29,000 after purchasing an additional 2,022 shares during the last quarter. Finally, RMR Wealth Builders lifted its stake in Genworth Financial by 20.2% in the 2nd quarter. RMR Wealth Builders now owns 12,620 shares of the financial services provider’s stock valued at $76,000 after buying an additional 2,120 shares in the last quarter. 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.