Key Points
- Director Robert Restrepo, Jr. sold 50,000 Genworth Financial shares at an average price of $9.12, for total proceeds of $456,000. After the sale, he still held 92,655 shares, a 35.05% reduction in his position.
- Genworth Financial shares were down 0.4% and opened at $9.03, near their 52-week high of $9.45. The company has a market cap of $3.46 billion and a relatively low beta of 0.89.
- The company recently reported Q1 earnings of $0.28 per share, beating analyst expectations of $0.18, though revenue of $1.04 billion came in below estimates. Analysts currently rate the stock a Moderate Buy with an average target price of $11.00.
Genworth Financial, Inc. (NYSE:GNW - Get Free Report) Director Robert Restrepo, Jr. sold 50,000 shares of the firm's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $9.12, for a total value of $456,000.00. Following the completion of the sale, the director directly owned 92,655 shares of the company's stock, valued at approximately $845,013.60. This represents a 35.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.
Genworth Financial Trading Down 0.4%
Shares of NYSE:GNW opened at $9.03 on Wednesday. Genworth Financial, Inc. has a 52-week low of $6.72 and a 52-week high of $9.45. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of 17.37 and a beta of 0.89. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average price of $8.69 and a 200-day moving average price of $8.68.
Genworth Financial (NYSE:GNW - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $0.28 earnings per share (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 company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.72 billion.
Institutional Trading of Genworth Financial
A number of institutional investors have recently made changes to their positions in the company. Royal Bank of Canada boosted its stake in Genworth Financial by 75.8% during the first quarter. Royal Bank of Canada now owns 118,058 shares of the financial services provider's stock worth $837,000 after buying an additional 50,911 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Genworth Financial by 2.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 252,152 shares of the financial services provider's stock worth $1,788,000 after buying an additional 7,106 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of 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 valued at $8,396,000 after purchasing an additional 55,071 shares during the last quarter. Strs Ohio acquired a new position in shares of Genworth Financial in the 1st quarter valued at $82,000. Finally, Invesco Ltd. lifted its stake in shares of Genworth Financial by 41.0% in the 2nd quarter. Invesco Ltd. now owns 4,291,220 shares of the financial services provider's stock valued at $33,386,000 after purchasing an additional 1,248,374 shares during the last quarter. 81.85% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the company. Weiss Ratings raised Genworth Financial from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, April 29th. Keefe, Bruyette & Woods boosted their price target on Genworth Financial from $10.50 to $11.00 and gave the company an "outperform" rating in a report on Wednesday, May 13th. Finally, Wall Street Zen cut Genworth Financial from a "hold" rating to a "sell" rating in a research report on Sunday, May 17th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $11.00.
Read Our Latest Report on GNW
Genworth Financial Company Profile
(
Get Free Report)
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.
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