Genworth Financial (NYSE:GNW) Stock Moved Down to “Hold” by Keefe, Bruyette & Woods

Genworth Financial (NYSE:GNW) was downgraded by analysts at Keefe, Bruyette & Woods from a “moderate buy” rating to a “hold” rating in a research report issued on Thursday, Zacks reports.

A number of other research firms have also commented on GNW. Wall Street Zen upgraded shares of Genworth Financial from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Weiss Ratings downgraded Genworth Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday. Three equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, Genworth Financial currently has a consensus rating of “Hold” and an average price target of $10.50.

Genworth Financial Stock Performance

Shares of GNW opened at $9.39 on Thursday. The firm has a market capitalization of $3.55 billion, a PE ratio of 18.07 and a beta of 0.88. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $9.89 and a 200 day moving average price of $9.34. Genworth Financial has a 52-week low of $7.84 and a 52-week high of $10.69.

Genworth Financial (NYSE:GNW) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. The company had revenue of $1.03 billion for 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%. On average, sell-side analysts anticipate that Genworth Financial will post 1.11 earnings per share for the current fiscal year.

Insider Transactions at Genworth Financial

In related news, CEO Thomas McInerney sold 100,000 shares of the stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $10.53, for a total value of $1,053,000.00. Following the completion of the transaction, the chief executive officer owned 5,068,883 shares of the company’s stock, valued at $53,375,337.99. This represents a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Melissa Hagerman sold 14,708 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $9.91, for a total value of $145,756.28. Following the completion of the transaction, the executive vice president directly owned 192,539 shares of the company’s stock, valued at approximately $1,908,061.49. The trade was a 7.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.80% of the stock is currently owned by company insiders.

Institutional Trading of Genworth Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GNW. GAMMA Investing LLC raised its stake in shares of Genworth Financial by 16.6% during the third quarter. GAMMA Investing LLC now owns 18,945 shares of the financial services provider’s stock worth $170,000 after buying an additional 2,695 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Genworth Financial by 436.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 5,760 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 4,686 shares during the period. Tidal Investments LLC bought a new stake in shares of Genworth Financial during the 2nd quarter valued at $96,000. Engineers Gate Manager LP bought a new stake in shares of Genworth Financial during the 2nd quarter valued at $1,983,000. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Genworth Financial in the 2nd quarter valued at $49,000. 81.85% of the stock is currently owned by institutional investors and hedge funds.

About Genworth Financial

Genworth Financial, Inc is a financial services company focused primarily on mortgage insurance and long-term care insurance. Through its U.S. mortgage insurance operations, including its majority-owned subsidiary Enact Holdings, the company helps lenders manage credit risk and supports access to homeownership by insuring residential mortgage loans.

Genworth also manages a portfolio of U.S. life insurance and long-term care insurance products. Its life insurance operations primarily serve existing policyholders, with an emphasis on administering in-force policies and managing long-term obligations rather than pursuing broad new sales.