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

StockNews.com downgraded the stock Genworth Financial (NYSE:GNW – Free Report) from a buy rating to a hold rating in a research report on Friday morning.

Genworth Financial stock down 2.3%

Shares of GNW stock opened at $6.72 on Friday. The company has a market cap of $2.94 billion, a price-to-earnings ratio of 35.37 and a beta of 0.94. The company has a fifty day moving average price of $6.53 and a 200 day moving average price of $6.33. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.29, and a quick ratio of 0.29. Genworth Financial has a 12-month low of $5.32 and a 12-month high of $7.01.

Genworth Financial (NYSE:GNW – Get Your Free Report ) last announced its 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 business 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%. In the same period last year, the company posted earnings of $0.29 per share.

Insider Trading at Genworth Financial

In related news, CEO Thomas J. Mcinerney sold 150,000 shares of Genworth Financial stock in a transaction on Monday, August 26th. The shares were 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 in the company, valued at approximately $31,186,723.52. The transaction was disclosed in a legal filing with the SEC, which is accessible via this link. Company insiders own 1.80% of the company’s shares.

Institutional investors weigh in on Genworth Financial

A number of institutional investors have recently added to or reduced their stakes in the business. Algert Global LLC boosted its holdings in shares of Genworth Financial by 52.1% in the second quarter. Algert Global LLC now owns 593,031 shares of the financial services provider’s stock valued at $3,582,000 after purchasing an additional 203,031 shares during the period. Susquehanna Fundamental Investments LLC boosted its holdings in Genworth Financial by 277.8% in the second quarter. Susquehanna Fundamental Investments LLC now owns 258,566 shares of the financial services provider’s stock valued at $1,562,000 after acquiring an additional 190,134 shares during the period. Mackenzie Financial Corp boosted its position in shares of Genworth Financial by 4.3% during the second quarter. Mackenzie Financial Corp now owns 104,156 shares of the financial services provider’s stock worth $629,000 after purchasing an additional 4,320 shares in the last quarter. Millennium Management LLC grew its stake in shares of Genworth Financial by 51.5% in the second quarter. Millennium Management LLC now owns 2,778,921 shares of the financial services provider’s stock worth $16,785,000 after buying an additional 944,677 shares during the period. Finally, DE Shaw & Co. Inc. boosted its holdings in shares of Genworth Financial by 93.5% in the second quarter. BY Shaw & Co. Inc. now owns 4,052,621 shares of the financial services provider’s stock valued at $24,478,000 after purchasing an additional 1,958,632 shares during the last quarter. Hedge funds and other institutional investors own 81.85% of the company’s shares.

About Genworth Financial

(Get a free report)

Genworth Financial, Inc, together with its subsidiaries, provides mortgage insurance and long-term care products in the United States and internationally. It operates in three segments: Enact, long-term care and life insurance, and annuities. The Enact segment offers private mortgage insurance products that primarily insure individually underwritten residential mortgage loans; and mortgage insurance products.

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