Genworth Financial (NYSE:GNW) CEO Thomas Mcinerney Sells 100,000 Shares of Stock

Genworth Financial, Inc. (NYSE:GNW) CEO Thomas Mcinerney sold 100,000 shares of the company’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $10.53, for a total transaction of $1,053,000.00. Following the completion of the sale, the chief executive officer owned 5,068,883 shares of the company’s stock, valued at approximately $53,375,337.99. The trade was a 1.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Genworth Financial Stock Up 0.9%

GNW opened at $10.45 on Wednesday. Genworth Financial, Inc. has a fifty-two week low of $7.84 and a fifty-two week high of $10.69. The firm has a market capitalization of $3.95 billion, a P/E ratio of 20.09 and a beta of 0.85. The company’s 50-day moving average is $9.88 and its 200 day moving average is $9.11. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.29 and a quick ratio of 0.29.

Genworth Financial (NYSE:GNW) last issued its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.90 billion. Genworth Financial had a net margin of 2.87% and a return on equity of 1.06%. Research analysts expect that Genworth Financial, Inc. will post 1.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Genworth Financial

Several institutional investors have recently bought and sold shares of GNW. Larson Financial Group LLC increased its position in Genworth Financial by 12,597.7% in the third quarter. Larson Financial Group LLC now owns 5,587 shares of the financial services provider’s stock worth $50,000 after buying an additional 5,543 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Genworth Financial during the 2nd quarter valued at $44,000. Atlas Wealth LLC bought a new position in shares of Genworth Financial during the 1st quarter worth $51,000. Danske Bank A S bought a new position in shares of Genworth Financial during the 3rd quarter worth $60,000. Finally, Rockefeller Capital Management L.P. increased its holdings in Genworth Financial by 124.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 7,159 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 3,966 shares during the last quarter. Hedge funds and other institutional investors own 81.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wall Street Zen upgraded Genworth Financial from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Zacks Research upgraded Genworth Financial to a “hold” rating in a research note on Wednesday, May 27th. Weiss Ratings raised Genworth Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, September 2nd. Finally, Keefe, Bruyette & Woods raised shares of Genworth Financial from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Genworth Financial has a consensus rating of “Buy” and a consensus price target of $12.00.

About Genworth Financial

Genworth Financial (NYSE: GNW) is a leading financial security company offering a broad range of insurance products. Based in Richmond, Virginia, Genworth provides individuals and families with solutions designed to protect against long-term care expenses, secure life insurance needs and support homeownership through private mortgage insurance. With operations spanning the United States, Canada and Australia, the company serves both retail and institutional clients through a diversified portfolio of risk management services.

The company’s Private Mortgage Insurance (PMI) segment offers coverage to lenders and consumers in the US, Canada and Australia, enabling homebuyers to purchase properties with lower down payments.