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 on Thursday, September 3rd. The shares were sold at an average price of $10.53, for a total transaction of $1,053,000.00. Following the completion of the transaction, the chief executive officer owned 5,068,883 shares in the company, valued at approximately $53,375,337.99. This trade represents a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Genworth Financial Stock Up 0.6%

Shares of Genworth Financial stock opened at $10.48 on Thursday. The company has a market cap of $3.96 billion, a P/E ratio of 20.16 and a beta of 0.85. The firm has a fifty day moving average of $9.89 and a two-hundred day moving average of $9.13. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.29 and a current ratio of 0.29. Genworth Financial, Inc. has a one year low of $7.84 and a one year high of $10.69.

Genworth Financial (NYSE:GNW) last posted its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.01. Genworth Financial had a net margin of 2.87% and a return on equity of 1.06%. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.90 billion. On average, analysts forecast that Genworth Financial, Inc. will post 1.1 earnings per share for the current year.

Institutional Trading of Genworth Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GNW. Bank of America Corp DE boosted its stake in shares of Genworth Financial by 133.2% during the 1st 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 last quarter. Fifth Third Bancorp boosted its position in Genworth Financial by 21,643.4% during the first quarter. Fifth Third Bancorp now owns 562,936 shares of the financial services provider’s stock worth $4,571,000 after acquiring an additional 560,347 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in Genworth Financial during the fourth quarter worth approximately $1,360,000. SG Americas Securities LLC grew its stake in Genworth Financial by 173.7% in the 1st quarter. SG Americas Securities LLC now owns 1,188,288 shares of the financial services provider’s stock worth $9,649,000 after acquiring an additional 754,105 shares during the period. Finally, Norges Bank purchased a new position in shares of Genworth Financial during the 4th quarter worth $45,912,000. Hedge funds and other institutional investors own 81.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on GNW. Zacks Research raised Genworth Financial to a “hold” rating in a report on Wednesday, May 27th. Weiss Ratings upgraded shares of Genworth Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, September 2nd. Keefe, Bruyette & Woods upgraded shares of Genworth Financial from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Finally, Wall Street Zen raised Genworth Financial from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $12.00.

Genworth Financial Company Profile

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.