Genworth Financial (NYSE:GNW) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of Genworth Financial (NYSE:GNW) from a hold rating to a sell rating in a report published on Sunday morning.

Several other equities analysts have also recently issued reports on GNW. Weiss Ratings raised Genworth Financial from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. Keefe, Bruyette & Woods boosted their target price on Genworth Financial from $10.50 to $11.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Genworth Financial has an average rating of “Moderate Buy” and an average target price of $11.00.

Genworth Financial Price Performance

Shares of Genworth Financial stock opened at $9.08 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.29 and a quick ratio of 0.29. The business’s 50 day simple moving average is $8.56 and its two-hundred day simple moving average is $8.64. The stock has a market capitalization of $3.48 billion, a P/E ratio of 17.45 and a beta of 0.89. Genworth Financial has a one year low of $6.63 and a one year high of $9.45.

Genworth Financial (NYSE:GNW) last announced its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.10. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Genworth Financial had a return on equity of 1.73% and a net margin of 2.96%.

Institutional Investors Weigh In On Genworth Financial

Hedge funds have recently made changes to their positions in the company. Bessemer Group Inc. boosted its position in shares of Genworth Financial by 60.6% during the third quarter. Bessemer Group Inc. now owns 3,830 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 1,445 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of Genworth Financial by 12,597.7% during the third quarter. Larson Financial Group LLC now owns 5,587 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 5,543 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Genworth Financial during the second quarter valued at approximately $44,000. Atlas Wealth LLC bought a new stake in shares of Genworth Financial during the first quarter valued at approximately $51,000. Finally, Danske Bank A S bought a new stake in shares of Genworth Financial during the third quarter valued at approximately $60,000. 81.85% of the stock is currently owned by institutional investors.

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.