Genworth Financial, Inc. (NYSE:GNW - Get Free Report) CEO Thomas Mcinerney sold 100,000 shares of the company's stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $10.53, for a total transaction of $1,053,000.00. Following the sale, the chief executive officer owned 5,068,883 shares in the company, valued at $53,375,337.99. The trade was a 1.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Genworth Financial Stock Up 0.9%
GNW opened at $10.45 on Wednesday. The company has a 50 day moving average of $9.88 and a 200 day moving average of $9.11. The company has a market cap of $3.95 billion, a PE ratio of 20.09 and a beta of 0.85. Genworth Financial, Inc. has a 12 month low of $7.84 and a 12 month high of $10.69. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.15.
Genworth Financial (NYSE:GNW - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates of $0.28 by $0.01. Genworth Financial had a net margin of 2.87% and a return on equity of 1.06%. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.90 billion. On average, sell-side analysts expect that Genworth Financial, Inc. will post 1.1 EPS for the current year.
Institutional Trading of Genworth Financial
A number of hedge funds and other institutional investors have recently bought and sold shares of GNW. Donald Smith & CO. Inc. purchased a new stake in Genworth Financial in the 2nd quarter worth approximately $212,906,000. Nuveen LLC grew its position in shares of Genworth Financial by 2.3% during the 4th quarter. Nuveen LLC now owns 9,781,111 shares of the financial services provider's stock valued at $88,323,000 after purchasing an additional 223,279 shares in the last quarter. Gendell Jeffrey L grew its position in shares of Genworth Financial by 168.0% during the 4th quarter. Gendell Jeffrey L now owns 6,485,888 shares of the financial services provider's stock valued at $58,568,000 after purchasing an additional 4,065,684 shares in the last quarter. Norges Bank bought a new position in shares of Genworth Financial in the fourth quarter worth $45,912,000. Finally, Invesco Ltd. increased its holdings in shares of Genworth Financial by 41.0% in the second quarter. Invesco Ltd. now owns 4,291,220 shares of the financial services provider's stock worth $33,386,000 after purchasing an additional 1,248,374 shares during the period. Institutional investors own 81.85% of the company's stock.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on GNW shares. Keefe, Bruyette & Woods upgraded Genworth Financial from a "moderate buy" rating to a "strong-buy" rating in a research report on Tuesday, August 11th. Wall Street Zen raised Genworth Financial from a "sell" rating to a "hold" rating in a report on Sunday, July 12th. Zacks Research upgraded Genworth Financial to a "hold" rating in a research note on Wednesday, May 27th. Finally, Weiss Ratings raised Genworth Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $12.00.
Read Our Latest Research Report on Genworth Financial
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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