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

Genworth Financial (NYSE:GNW) was upgraded by Zacks Research to a “hold” rating in a report released on Wednesday,Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods upped their price target on shares of Genworth Financial from $10.50 to $11.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Wall Street Zen cut shares of Genworth Financial from a “hold” rating to a “sell” rating in a report on Sunday, May 17th. Finally, Weiss Ratings raised shares of Genworth Financial from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $11.00.

Genworth Financial Price Performance

Genworth Financial stock 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 business has a fifty day moving average price of $8.72 and a 200-day moving average price of $8.68. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a market capitalization of $3.31 billion, a P/E ratio of 16.63 and a beta of 0.89.

Genworth Financial (NYSE:GNW) last posted its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.10. The firm had revenue of $1.04 billion during 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%. As a group, equities research analysts forecast that Genworth Financial will post 0.44 EPS for the current year.

Insider Buying and Selling at Genworth Financial

In other news, CEO Thomas J. Mcinerney sold 100,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer owned 5,368,883 shares of the company’s stock, valued at approximately $49,769,545.41. This represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert P. Restrepo, Jr. sold 50,000 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $9.12, for a total transaction of $456,000.00. Following the completion of the transaction, the director directly owned 92,655 shares in the company, valued at approximately $845,013.60. The trade was a 35.05% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Genworth Financial

Several hedge funds have recently added to or reduced their stakes in GNW. Captrust Financial Advisors raised its stake in Genworth Financial by 8.3% during the 4th quarter. Captrust Financial Advisors now owns 14,770 shares of the financial services provider’s stock valued at $133,000 after buying an additional 1,133 shares during the last quarter. Truist Financial Corp increased its stake in shares of Genworth Financial by 9.6% in the 4th quarter. Truist Financial Corp now owns 14,342 shares of the financial services provider’s stock worth $130,000 after purchasing an additional 1,257 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Genworth Financial by 1.0% in the 3rd quarter. Arizona State Retirement System now owns 122,642 shares of the financial services provider’s stock worth $1,092,000 after purchasing an additional 1,271 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Genworth Financial by 12.7% in the 3rd quarter. Smartleaf Asset Management LLC now owns 11,638 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 1,316 shares in the last quarter. Finally, Abel Hall LLC increased its stake in shares of Genworth Financial by 11.9% in the 4th quarter. Abel Hall LLC now owns 12,672 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 1,348 shares in the last quarter. Institutional investors 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.