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

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

Genworth Financial Trading Down 2.2 %

GNW traded down $0.15 during mid-day trading on Friday, hitting $6.73. 2,554,053 shares of the stock were exchanged, compared to its average volume of 2,789,076. The company has a market cap of $2.95 billion, a PE ratio of 35.42 and a beta of 0.92. Genworth Financial has a 1-year low of $5.32 and a 1-year high of $7.01. 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’s fifty day moving average is $6.51 and its two-hundred day moving average is $6.33.

Genworth Financial (NYSE:GNW) last released its 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. Genworth Financial had a net margin of 0.43% and a return on equity of 0.25%. The company had revenue of $1.77 billion for the quarter. During the same quarter last year, the company earned $0.29 earnings per share.

Insider Buying and Selling

In other news, CEO Thomas J. Mcinerney sold 150,000 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 4,532,954 shares in the company, valued at approximately $31,186,723.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in GNW. Headlands Technologies LLC acquired a new stake in shares of Genworth Financial during the first quarter worth about $25,000. SageView Advisory Group LLC purchased a new position in Genworth Financial during the 1st quarter worth approximately $30,000. EverSource Wealth Advisors LLC increased its position in Genworth Financial by 72.1% during the second quarter. EverSource Wealth Advisors LLC now owns 4,828 shares of the financial services provider’s stock worth $29,000 after buying an additional 2,022 shares during the period. Activest Wealth Management purchased a new stake in Genworth Financial in the first quarter valued at approximately $31,000. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in shares of Genworth Financial by 29.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 8,700 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 2,000 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.