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

Genworth Financial (NYSE:GNW) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

Genworth Financial Stock Up 0.3 %

NYSE GNW opened at $7.43 on Wednesday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.17. Genworth Financial has a fifty-two week low of $5.67 and a fifty-two week high of $7.48. The business has a 50 day moving average price of $6.92 and a two-hundred day moving average price of $6.60. The stock has a market cap of $3.17 billion, a PE ratio of 35.38 and a beta of 0.95.

Insiders Place Their Bets

In other news, CEO Thomas J. Mcinerney sold 150,000 shares of Genworth Financial stock in a transaction dated Monday, August 26th. The stock was 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 approximately $31,186,723.52. The trade was a 3.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Genworth Financial

Hedge funds have recently bought and sold shares of the business. UniSuper Management Pty Ltd acquired a new position in shares of Genworth Financial in the 1st quarter valued at approximately $562,000. Donald Smith & CO. Inc. increased its stake in shares of Genworth Financial by 3.7% in the third quarter. Donald Smith & CO. Inc. now owns 25,015,294 shares of the financial services provider’s stock worth $171,355,000 after buying an additional 901,485 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Genworth Financial by 138.3% in the second quarter. Assenagon Asset Management S.A. now owns 4,233,541 shares of the financial services provider’s stock worth $25,571,000 after buying an additional 2,456,816 shares during the last quarter. River Road Asset Management LLC raised its holdings in Genworth Financial by 0.8% in the third quarter. River Road Asset Management LLC now owns 17,391,968 shares of the financial services provider’s stock valued at $119,135,000 after acquiring an additional 131,634 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Genworth Financial by 0.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 912,090 shares of the financial services provider’s stock valued at $6,248,000 after acquiring an additional 7,502 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.