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

StockNews.com cut shares of Genworth Financial (NYSE:GNW) from a buy rating to a hold rating in a research note released on Friday.

Genworth Financial Stock Performance

Shares of GNW opened at $6.73 on Friday. Genworth Financial has a 52-week low of $5.32 and a 52-week high of $7.01. The stock’s 50-day simple moving average is $6.51 and its 200 day simple moving average is $6.33. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of 35.42 and a beta of 0.92.

Genworth Financial (NYSE:GNW) last posted its earnings results on Wednesday, July 31st. The financial services provider reported $0.28 earnings per share 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 company posted $0.29 EPS.

Insider Transactions at Genworth Financial

In other Genworth Financial news, CEO Thomas J. Mcinerney sold 150,000 shares of Genworth Financial 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 completion of the sale, the chief executive officer now directly owns 4,532,954 shares in the company, valued at $31,186,723.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. First Trust Direct Indexing L.P. lifted 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 worth $126,000 after buying an additional 1,780 shares during the last quarter. Covestor Ltd increased its holdings in shares of Genworth Financial by 11.5% in the first quarter. Covestor Ltd now owns 18,131 shares of the financial services provider’s stock worth $117,000 after buying an additional 1,868 shares during the period. Sage Rhino Capital LLC lifted its stake in shares of Genworth Financial by 9.8% in the 2nd quarter. Sage Rhino Capital LLC now owns 21,899 shares of the financial services provider’s stock valued at $132,000 after acquiring an additional 1,950 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in Genworth Financial by 29.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 8,700 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 2,000 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position 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 worth $29,000 after acquiring an additional 2,022 shares during 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.