Genworth Financial (NYSE:GNW) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Genworth Financial (NYSE:GNW) from a hold rating to a sell rating in a research note published on Thursday morning.

Separately, Keefe, Bruyette & Woods boosted their price target on Genworth Financial from $8.00 to $8.50 and gave the stock a “market perform” rating in a report on Tuesday, May 13th.

Genworth Financial Stock Up 0.7%

GNW stock opened at $6.79 on Thursday. Genworth Financial has a twelve month low of $5.87 and a twelve month high of $7.90. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.16. The stock has a market cap of $2.81 billion, a P/E ratio of 9.98 and a beta of 0.99. The business’s 50-day moving average price is $6.85 and its 200-day moving average price is $7.03.

Genworth Financial (NYSE:GNW) last posted its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.09). Genworth Financial had a net margin of 4.10% and a return on equity of 2.96%. The company had revenue of $1.76 billion for the quarter.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Intech Investment Management LLC lifted its holdings in Genworth Financial by 7.6% in the 1st quarter. Intech Investment Management LLC now owns 427,993 shares of the financial services provider’s stock worth $3,034,000 after purchasing an additional 30,260 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Genworth Financial by 4.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,184,144 shares of the financial services provider’s stock worth $8,396,000 after purchasing an additional 55,071 shares in the last quarter. Caxton Associates LLP purchased a new position in Genworth Financial in the 1st quarter worth approximately $3,990,000. Teza Capital Management LLC purchased a new position in Genworth Financial in the 1st quarter worth approximately $195,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Genworth Financial by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 252,152 shares of the financial services provider’s stock worth $1,788,000 after purchasing an additional 7,106 shares in the last quarter. 81.85% of the stock is owned by hedge funds and other institutional investors.

Genworth Financial Company Profile

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.