Genworth Financial (NYSE:GNW) Stock Rating Upgraded by StockNews.com

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

Genworth Financial Trading Down 0.4 %

GNW opened at $6.96 on Monday. The stock has a market capitalization of $3.05 billion, a P/E ratio of 36.63 and a beta of 0.94. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.17. Genworth Financial has a 12 month low of $5.32 and a 12 month high of $7.25. The firm’s fifty day simple moving average is $6.85 and its 200 day simple moving average is $6.47.

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

Insider Activity

In related news, CEO Thomas J. Mcinerney sold 150,000 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $6.88, for a total transaction of $1,032,000.00. Following the completion of the transaction, the chief executive officer now owns 4,532,954 shares in the company, valued at approximately $31,186,723.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is owned by corporate insiders.

Institutional Trading of Genworth Financial

Several institutional investors and hedge funds have recently bought and sold shares of GNW. Donald Smith & CO. Inc. increased its position in shares of Genworth Financial by 14.5% during the 1st quarter. Donald Smith & CO. Inc. now owns 24,244,607 shares of the financial services provider’s stock worth $155,893,000 after purchasing an additional 3,069,355 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in 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 worth $25,571,000 after buying an additional 2,456,816 shares during the last quarter. D. E. Shaw & Co. Inc. raised its position in 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 worth $24,478,000 after acquiring an additional 1,958,632 shares in the last quarter. Cubist Systematic Strategies LLC lifted its stake in Genworth Financial by 3,395.1% in the second quarter. Cubist Systematic Strategies LLC now owns 1,780,098 shares of the financial services provider’s stock valued at $10,752,000 after acquiring an additional 1,729,167 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of Genworth Financial by 51.5% in the 2nd quarter. Millennium Management LLC now owns 2,778,921 shares of the financial services provider’s stock valued at $16,785,000 after acquiring an additional 944,677 shares during the period. Institutional investors own 81.85% of the company’s stock.

About Genworth Financial

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.