Genworth Financial (NYSE:GNW) Lowered to Hold Rating by StockNews.com

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.

Genworth Financial Stock Performance

NYSE:GNW opened at $6.59 on Tuesday. The stock’s 50 day simple moving average is $6.86 and its two-hundred day simple moving average is $6.51. Genworth Financial has a 1 year low of $5.32 and a 1 year high of $7.25. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.29 and a quick ratio of 0.29. The company has a market cap of $2.84 billion, a price-to-earnings ratio of 94.07 and a beta of 0.94.

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

Insider Buying and Selling at Genworth Financial

In other news, CEO Thomas J. Mcinerney sold 150,000 shares of the firm’s 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 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Genworth Financial

A number of large investors have recently modified their holdings of GNW. First Trust Direct Indexing L.P. boosted its stake 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 purchasing an additional 1,780 shares in the last quarter. Covestor Ltd boosted its holdings in Genworth Financial by 11.5% in the first quarter. Covestor Ltd now owns 18,131 shares of the financial services provider’s stock valued at $117,000 after purchasing an additional 1,868 shares during the last quarter. Sage Rhino Capital LLC lifted its holdings in Genworth Financial by 9.8% in the second 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 period. EverSource Wealth Advisors LLC boosted its position in Genworth Financial by 72.1% in 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 in the last quarter. Finally, RMR Wealth Builders grew its stake in shares of Genworth Financial by 20.2% during the 2nd quarter. RMR Wealth Builders now owns 12,620 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 2,120 shares during the period. Hedge funds and other institutional investors own 81.85% of the company’s stock.

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.