Key Points
- Genworth Financial CEO Thomas Mcinerney sold 100,000 shares on May 22 at an average price of $9.27, generating about $927,000. After the sale, he still owned over 5.36 million shares.
- The stock was down about 1.9% and traded at $8.85, near its 52-week high of $9.45. The company has a market cap of about $3.39 billion.
- Genworth recently beat earnings expectations with Q1 EPS of $0.28 versus the $0.18 consensus, though revenue came in below forecasts at $1.04 billion. Analysts currently have a consensus rating of “Moderate Buy” with an average target price of $11.00.
Genworth Financial, Inc. (NYSE:GNW - Get Free Report) CEO Thomas Mcinerney sold 100,000 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $9.27, for a total value of $927,000.00. Following the completion of the transaction, the chief executive officer directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Genworth Financial Stock Down 1.9%
Shares of NYSE:GNW opened at $8.85 on Thursday. 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 $3.39 billion, a P/E ratio of 17.03 and a beta of 0.89. The business's 50 day moving average is $8.70 and its 200 day moving average is $8.68. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.15.
Genworth Financial (NYSE:GNW - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $1.72 billion.
Analyst Ratings Changes
Several research analysts recently issued reports on the company. Weiss Ratings raised Genworth Financial from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, April 29th. Wall Street Zen cut Genworth Financial from a "hold" rating to a "sell" rating in a research report on Sunday, May 17th. Finally, Keefe, Bruyette & Woods increased their target price on Genworth Financial from $10.50 to $11.00 and gave the company an "outperform" rating in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Genworth Financial has a consensus rating of "Moderate Buy" and an average target price of $11.00.
Read Our Latest Research Report on Genworth Financial
Institutional Trading of Genworth Financial
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Captrust Financial Advisors boosted its position 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 acquiring an additional 1,133 shares in the last quarter. Truist Financial Corp boosted its position in Genworth Financial by 9.6% during the 4th quarter. Truist Financial Corp now owns 14,342 shares of the financial services provider's stock valued at $130,000 after acquiring an additional 1,257 shares in the last quarter. Arizona State Retirement System boosted its position in Genworth Financial by 1.0% during the 3rd quarter. Arizona State Retirement System now owns 122,642 shares of the financial services provider's stock valued at $1,092,000 after acquiring an additional 1,271 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in Genworth Financial by 12.7% during the 3rd quarter. Smartleaf Asset Management LLC now owns 11,638 shares of the financial services provider's stock valued at $104,000 after acquiring an additional 1,316 shares in the last quarter. Finally, Abel Hall LLC boosted its position in Genworth Financial by 11.9% during the 4th quarter. Abel Hall LLC now owns 12,672 shares of the financial services provider's stock valued at $114,000 after acquiring an additional 1,348 shares in the last quarter. Institutional investors own 81.85% of the company's stock.
About Genworth Financial
(
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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