Genworth Financial (NYSE:GNW) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Genworth Financial (NYSE:GNW) to a hold rating in a report released on Wednesday,Zacks.com reports.

A number of other research analysts have also recently commented on the company. Keefe, Bruyette & Woods upped their price objective on Genworth Financial from $10.50 to $11.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Wall Street Zen cut Genworth Financial from a “hold” rating to a “sell” rating in a report on Sunday, May 17th. Finally, Weiss Ratings upgraded Genworth Financial from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $11.00.

Genworth Financial Trading Down 2.2%

GNW opened at $8.65 on Wednesday. Genworth Financial has a one year low of $6.72 and a one year high of $9.45. The stock has a market capitalization of $3.31 billion, a PE ratio of 16.63 and a beta of 0.89. The business’s 50 day moving average price is $8.72 and its 200 day moving average price is $8.68. 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 (NYSE:GNW) last released its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.10. Genworth Financial had a return on equity of 1.73% and a net margin of 2.96%.The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.72 billion. As a group, equities research analysts expect that Genworth Financial will post 0.44 EPS for the current year.

Insider Activity at Genworth Financial

In related news, CEO Thomas J. Mcinerney sold 100,000 shares of Genworth Financial stock in a transaction that occurred on 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 sale, the chief executive officer owned 5,368,883 shares in the company, valued at approximately $49,769,545.41. This trade represents a 1.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert P. Restrepo, Jr. sold 50,000 shares of Genworth Financial stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $9.12, for a total transaction of $456,000.00. Following the completion of the sale, the director owned 92,655 shares of the company’s stock, valued at $845,013.60. This trade represents a 35.05% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.80% of the stock is currently owned by company insiders.

Institutional Trading of Genworth Financial

Several institutional investors have recently added to or reduced their stakes in the stock. Captrust Financial Advisors grew its stake in shares of Genworth Financial by 8.3% in the fourth quarter. Captrust Financial Advisors now owns 14,770 shares of the financial services provider’s stock worth $133,000 after acquiring an additional 1,133 shares in the last quarter. Truist Financial Corp increased its position in shares of Genworth Financial by 9.6% during the fourth quarter. Truist Financial Corp now owns 14,342 shares of the financial services provider’s stock worth $130,000 after acquiring an additional 1,257 shares during the period. Arizona State Retirement System increased its position in shares of Genworth Financial by 1.0% during the third quarter. Arizona State Retirement System now owns 122,642 shares of the financial services provider’s stock worth $1,092,000 after acquiring an additional 1,271 shares during the period. Smartleaf Asset Management LLC increased its position in shares of Genworth Financial by 12.7% during the third quarter. Smartleaf Asset Management LLC now owns 11,638 shares of the financial services provider’s stock worth $104,000 after acquiring an additional 1,316 shares during the period. Finally, Abel Hall LLC increased its position in shares of Genworth Financial by 11.9% during the fourth quarter. Abel Hall LLC now owns 12,672 shares of the financial services provider’s stock worth $114,000 after acquiring an additional 1,348 shares during the period. Institutional investors and hedge funds own 81.85% of the company’s stock.

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.