Genworth Financial (NYSE:GNW) Lifted to “Buy” at StockNews.com

Genworth Financial (NYSE:GNW) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.

Genworth Financial Trading Down 1.4 %

Shares of GNW stock traded down $0.10 during trading hours on Monday, hitting $6.99. 2,137,962 shares of the company were exchanged, compared to its average volume of 2,787,780. The firm has a market cap of $3.06 billion, a PE ratio of 36.79 and a beta of 0.94. Genworth Financial has a 1 year low of $5.32 and a 1 year high of $7.25. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.17. The firm has a fifty day moving average of $6.84 and a 200 day moving average of $6.47.

Genworth Financial (NYSE:GNW) last posted its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.28 EPS for the quarter, beating the consensus estimate of $0.19 by $0.09. Genworth Financial had a net margin of 0.43% and a return on equity of 0.25%. The firm had revenue of $1.77 billion for the quarter. During the same quarter in the previous year, the business posted $0.29 EPS.

Insider Activity at Genworth Financial

In related news, CEO Thomas J. Mcinerney sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $6.88, for a total value of $1,032,000.00. Following the transaction, the chief executive officer now owns 4,532,954 shares in the company, valued at approximately $31,186,723.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Donald Smith & CO. Inc. raised its stake in shares of Genworth Financial by 14.5% during the first quarter. Donald Smith & CO. Inc. now owns 24,244,607 shares of the financial services provider’s stock valued at $155,893,000 after purchasing an additional 3,069,355 shares during the period. American Century Companies Inc. raised its stake in shares of Genworth Financial by 9.1% during the second quarter. American Century Companies Inc. now owns 7,054,069 shares of the financial services provider’s stock valued at $42,607,000 after purchasing an additional 590,496 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Genworth Financial by 138.3% during the second quarter. Assenagon Asset Management S.A. now owns 4,233,541 shares of the financial services provider’s stock valued at $25,571,000 after purchasing an additional 2,456,816 shares during the period. D. E. Shaw & Co. Inc. raised its stake in shares of Genworth Financial by 93.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 4,052,621 shares of the financial services provider’s stock valued at $24,478,000 after purchasing an additional 1,958,632 shares during the period. Finally, Millennium Management LLC raised its stake in shares of Genworth Financial by 51.5% during the second quarter. Millennium Management LLC now owns 2,778,921 shares of the financial services provider’s stock valued at $16,785,000 after purchasing an additional 944,677 shares during the period. Hedge funds and other institutional investors own 81.85% of the company’s stock.

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.