Thomas Mcinerney Sells 100,000 Shares of Genworth Financial (NYSE:GNW) Stock

Genworth Financial, Inc. (NYSE:GNW) CEO Thomas Mcinerney sold 100,000 shares of Genworth Financial stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $9.27, for a total value of $927,000.00. Following the completion of the transaction, the chief executive officer directly owned 5,368,883 shares in the company, valued at $49,769,545.41. This represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Genworth Financial Trading Down 1.9%

Shares of NYSE GNW traded down $0.18 during midday trading on Wednesday, hitting $8.85. The stock had a trading volume of 2,109,568 shares, compared to its average volume of 3,346,684. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of 17.03 and a beta of 0.89. Genworth Financial, Inc. has a 1-year low of $6.72 and a 1-year 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. The company has a fifty day moving average price of $8.69 and a 200 day moving average price of $8.68.

Genworth Financial (NYSE:GNW) last released its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.10. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.72 billion. Genworth Financial had a return on equity of 1.73% and a net margin of 2.96%.

Analyst Ratings Changes

GNW has been the topic of several research analyst reports. Wall Street Zen lowered Genworth Financial from a “hold” rating to a “sell” rating in a research note on Sunday, May 17th. Keefe, Bruyette & Woods lifted their price objective on Genworth Financial from $10.50 to $11.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Finally, Weiss Ratings raised Genworth Financial from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $11.00.

Hedge Funds Weigh In On Genworth Financial

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bessemer Group Inc. lifted its position in Genworth Financial by 60.6% during the 3rd quarter. Bessemer Group Inc. now owns 3,830 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 1,445 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Genworth Financial during the 2nd quarter worth $44,000. Larson Financial Group LLC increased its stake in Genworth Financial by 12,597.7% during the 3rd quarter. Larson Financial Group LLC now owns 5,587 shares of the financial services provider’s stock worth $50,000 after buying an additional 5,543 shares during the period. Atlas Wealth LLC acquired a new position in Genworth Financial in the 1st quarter worth $51,000. Finally, Danske Bank A S purchased a new position in Genworth Financial in the 3rd quarter valued at about $60,000. 81.85% of the stock is owned by institutional investors and hedge funds.

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.