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

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

Genworth Financial Trading Up 0.2 %

GNW traded up $0.02 during trading on Tuesday, reaching $6.82. 1,863,541 shares of the company's stock were exchanged, compared to its average volume of 2,763,797. Genworth Financial has a one year low of $5.32 and a one year high of $7.25. 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 stock has a market capitalization of $2.98 billion, a PE ratio of 35.87 and a beta of 0.94. The firm has a fifty day moving average price of $6.86 and a two-hundred day moving average price of $6.49.

Genworth Financial (NYSE:GNW - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.19 by $0.09. The firm 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 last year, the firm posted $0.29 EPS.

Insider Transactions at Genworth Financial

In other news, CEO Thomas J. Mcinerney sold 150,000 shares of the business's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $6.88, for a total value of $1,032,000.00. Following the transaction, the chief executive officer now owns 4,532,954 shares in the company, valued at approximately $31,186,723.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.80% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. UniSuper Management Pty Ltd acquired a new position in shares of Genworth Financial during the 1st quarter valued at $562,000. Assenagon Asset Management S.A. lifted its position 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 valued at $25,571,000 after acquiring an additional 2,456,816 shares during the period. Renaissance Technologies LLC lifted its position in shares of Genworth Financial by 62.0% during the 2nd quarter. Renaissance Technologies LLC now owns 548,900 shares of the financial services provider's stock valued at $3,315,000 after acquiring an additional 210,000 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of 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 period. Finally, Susquehanna Fundamental Investments LLC increased its stake in Genworth Financial by 277.8% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 258,566 shares of the financial services provider's stock valued at $1,562,000 after purchasing an additional 190,134 shares in 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.