Genworth Financial (NYSE:GNW) Lowered to “Hold” at StockNews.com

StockNews.com cut shares of Genworth Financial (NYSE:GNW) from a buy rating to a hold rating in a research report sent to investors on Friday.

Genworth Financial Stock Performance

Shares of GNW stock opened at $6.73 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.17. The firm has a fifty day simple moving average of $6.51 and a two-hundred day simple moving average of $6.33. Genworth Financial has a 12 month low of $5.32 and a 12 month high of $7.01. The firm has a market capitalization of $2.95 billion, a PE ratio of 35.42 and a beta of 0.92.

Genworth Financial (NYSE:GNW) last posted its earnings results on Wednesday, July 31st. The financial services provider reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.09. The company 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 in the prior year, the company earned $0.29 EPS.

Insider Buying and Selling at Genworth Financial

In related news, CEO Thomas J. Mcinerney sold 150,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 4,532,954 shares of the company’s stock, valued at $31,186,723.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GNW. Dimensional Fund Advisors LP boosted its stake in Genworth Financial by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 30,294,780 shares of the financial services provider’s stock valued at $202,371,000 after acquiring an additional 534,650 shares during the last quarter. Donald Smith & CO. Inc. increased its position in Genworth Financial by 14.5% in the first 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 last quarter. American Century Companies Inc. raised 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 valued at $42,607,000 after buying an additional 590,496 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Genworth Financial by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,031,450 shares of the financial services provider’s stock valued at $33,610,000 after buying an additional 114,372 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Genworth Financial by 138.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,233,541 shares of the financial services provider’s stock worth $25,571,000 after acquiring an additional 2,456,816 shares during the period. Institutional investors own 81.85% of the company’s stock.

About Genworth Financial

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.