Genworth Financial (NYSE:GNW) Cut to "Hold" at StockNews.com

StockNews.com lowered shares of Genworth Financial (NYSE:GNW - Free Report) from a buy rating to a hold rating in a research report report published on Wednesday.

Genworth Financial Stock Up 0.8 %

GNW traded up $0.06 on Wednesday, hitting $7.49. 2,638,651 shares of the company were exchanged, compared to its average volume of 2,776,011. Genworth Financial has a twelve month low of $5.67 and a twelve month high of $7.50. The company has a market cap of $3.20 billion, a price-to-earnings ratio of 35.38 and a beta of 0.95. 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 50-day moving average price of $6.93 and a two-hundred day moving average price of $6.61.

Insider Activity

In related news, CEO Thomas J. Mcinerney sold 150,000 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer now owns 4,532,954 shares in the company, valued at $31,186,723.52. This represents a 3.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.80% of the company's stock.

Institutional Investors Weigh In On Genworth Financial

Large investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. increased its holdings in shares of Genworth Financial by 138.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 4,233,541 shares of the financial services provider's stock valued at $25,571,000 after purchasing an additional 2,456,816 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its position in shares of Genworth Financial by 93.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 4,052,621 shares of the financial services provider's stock valued at $24,478,000 after acquiring an additional 1,958,632 shares during the period. Cubist Systematic Strategies LLC boosted its stake in shares of Genworth Financial by 3,395.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,780,098 shares of the financial services provider's stock worth $10,752,000 after acquiring an additional 1,729,167 shares in the last quarter. Repertoire Partners LP acquired a new stake in shares of Genworth Financial in the 3rd quarter worth approximately $6,850,000. Finally, Whitefort Capital Management LP grew its holdings in shares of Genworth Financial by 49.6% in the 3rd quarter. Whitefort Capital Management LP now owns 2,986,960 shares of the financial services provider's stock worth $20,461,000 after acquiring an additional 990,000 shares during the period. Hedge funds and other 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.