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

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

Genworth Financial Stock Performance

Shares of GNW opened at $6.56 on Tuesday. Genworth Financial has a 52-week low of $5.32 and a 52-week high of $6.94. The firm has a market capitalization of $2.87 billion, a PE ratio of 34.50 and a beta of 0.92. The firm has a 50-day moving average price of $6.28 and a 200 day moving average price of $6.25. 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 (NYSE:GNW) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.09. The business 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 business earned $0.29 EPS.

Insider Transactions at Genworth Financial

In related news, CEO Thomas J. Mcinerney sold 200,000 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $6.27, for a total transaction of $1,254,000.00. Following the completion of the transaction, the chief executive officer now owns 4,361,980 shares of the company’s stock, valued at $27,349,614.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Genworth Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Genworth Financial in the 4th quarter valued at $23,292,000. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in shares of Genworth Financial in the fourth quarter worth about $22,482,000. Donald Smith & CO. Inc. increased its position in shares of Genworth Financial by 18.3% in the fourth quarter. Donald Smith & CO. Inc. now owns 21,175,252 shares of the financial services provider’s stock worth $141,451,000 after acquiring an additional 3,283,110 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Genworth Financial by 138.3% during the second 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. Finally, Cubist Systematic Strategies LLC lifted its position in shares of Genworth Financial by 3,395.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,780,098 shares of the financial services provider’s stock valued at $10,752,000 after acquiring an additional 1,729,167 shares in the last quarter. 81.85% of the stock is owned by institutional investors and hedge funds.

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.