Robert Restrepo, Jr. Sells 50,000 Shares of Genworth Financial (NYSE:GNW) Stock

Genworth Financial, Inc. (NYSE:GNW) Director Robert Restrepo, Jr. sold 50,000 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $9.12, for a total value of $456,000.00. Following the transaction, the director directly owned 92,655 shares in the company, valued at approximately $845,013.60. This represents a 35.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Genworth Financial Trading Down 0.4%

NYSE:GNW traded down $0.04 during trading hours on Tuesday, hitting $9.03. 2,854,309 shares of the stock were exchanged, compared to its average volume of 3,358,335. The company’s 50 day moving average is $8.66 and its two-hundred day moving average is $8.68. The company has a market capitalization of $3.46 billion, a P/E ratio of 17.37 and a beta of 0.89. Genworth Financial, Inc. has a twelve month low of $6.72 and a twelve month high of $9.45. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.15.

Genworth Financial (NYSE:GNW) last issued its earnings results on Tuesday, May 5th. The financial services provider reported $0.28 EPS for the quarter, beating the consensus estimate of $0.18 by $0.10. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Genworth Financial had a net margin of 2.96% and a return on equity of 1.73%.

Hedge Funds Weigh In On Genworth Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE grew its holdings in Genworth Financial by 133.2% during the first quarter. Bank of America Corp DE now owns 2,158,625 shares of the financial services provider’s stock worth $17,528,000 after purchasing an additional 1,232,931 shares during the period. Kentucky Retirement Systems bought a new stake in shares of Genworth Financial during the first quarter worth approximately $331,000. Amundi boosted its holdings in shares of Genworth Financial by 43.0% during the first quarter. Amundi now owns 99,230 shares of the financial services provider’s stock worth $806,000 after acquiring an additional 29,827 shares during the period. California State Teachers Retirement System boosted its holdings in shares of Genworth Financial by 25.3% during the first quarter. California State Teachers Retirement System now owns 481,679 shares of the financial services provider’s stock worth $3,911,000 after acquiring an additional 97,272 shares during the period. Finally, Royal Bank of Canada boosted its holdings in shares of Genworth Financial by 46.0% during the first quarter. Royal Bank of Canada now owns 50,232 shares of the financial services provider’s stock worth $408,000 after acquiring an additional 15,828 shares during the period. Institutional investors own 81.85% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on GNW shares. Weiss Ratings upgraded Genworth Financial from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, April 29th. Keefe, Bruyette & Woods increased their target price on Genworth Financial from $10.50 to $11.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Finally, Wall Street Zen cut Genworth Financial from a “hold” rating to a “sell” rating in a report on Sunday, May 17th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Genworth Financial has an average rating of “Moderate Buy” and a consensus target price of $11.00.

About Genworth Financial

Genworth Financial (NYSE: GNW) is a leading financial security company offering a broad range of insurance products. Based in Richmond, Virginia, Genworth provides individuals and families with solutions designed to protect against long-term care expenses, secure life insurance needs and support homeownership through private mortgage insurance. With operations spanning the United States, Canada and Australia, the company serves both retail and institutional clients through a diversified portfolio of risk management services.

The company’s Private Mortgage Insurance (PMI) segment offers coverage to lenders and consumers in the US, Canada and Australia, enabling homebuyers to purchase properties with lower down payments.