Genworth Financial (NYSE:GNW) Upgraded at StockNews.com

StockNews.com upgraded shares of Genworth Financial (NYSE:GNW) from a hold rating to a buy rating in a research report released on Monday morning.

Genworth Financial Trading Down 0.9 %

Shares of NYSE:GNW opened at $6.90 on Monday. The business’s 50-day moving average is $6.86 and its 200 day moving average is $6.47. 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 1 year low of $5.32 and a 1 year high of $7.25. The firm has a market capitalization of $3.02 billion, a P/E ratio of 36.29 and a beta of 0.94.

Genworth Financial (NYSE:GNW) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.09. The firm 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 quarter last year, the company 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 directly owns 4,532,954 shares of the company’s stock, valued at $31,186,723.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Genworth Financial

A number of institutional investors and hedge funds have recently modified their holdings of the company. Donald Smith & CO. Inc. increased its holdings in Genworth Financial by 14.5% in the 1st quarter. Donald Smith & CO. Inc. now owns 24,244,607 shares of the financial services provider’s stock worth $155,893,000 after buying an additional 3,069,355 shares during the period. American Century Companies Inc. increased its stake in shares of Genworth Financial by 9.1% in the second quarter. American Century Companies Inc. now owns 7,054,069 shares of the financial services provider’s stock worth $42,607,000 after acquiring an additional 590,496 shares during the period. Assenagon Asset Management S.A. raised 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 worth $31,545,000 after purchasing an additional 371,513 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its position in Genworth Financial by 93.5% during the second quarter. D. E. 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 period. Finally, Millennium Management LLC boosted its holdings in 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 valued at $16,785,000 after purchasing an additional 944,677 shares during the last quarter. Institutional investors and hedge funds 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.