Genworth Financial (NYSE:GNW) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Genworth Financial (NYSE:GNW) from a hold rating to a sell rating in a research note issued to investors on Saturday.

Several other equities analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Genworth Financial from $9.50 to $10.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Genworth Financial in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $10.00.

Genworth Financial Stock Up 2.0%

GNW opened at $8.69 on Friday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average price of $8.64 and a two-hundred day moving average price of $7.68. Genworth Financial has a 52 week low of $5.99 and a 52 week high of $9.15. The company has a market cap of $3.57 billion, a PE ratio of 19.31 and a beta of 0.99.

Genworth Financial (NYSE:GNW) last released its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.11. The business had revenue of $1.80 billion for the quarter. Genworth Financial had a return on equity of 1.91% and a net margin of 2.61%.

Insider Transactions at Genworth Financial

In other Genworth Financial news, CEO Rohit Gupta sold 86,406 shares of the company’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $8.68, for a total transaction of $750,004.08. Following the transaction, the chief executive officer owned 794,630 shares in the company, valued at approximately $6,897,388.40. This represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Genworth Financial

Hedge funds have recently bought and sold shares of the stock. Headlands Technologies LLC bought a new stake in Genworth Financial during the 2nd quarter valued at $44,000. Byrne Asset Management LLC boosted its stake in Genworth Financial by 69.5% in the 1st quarter. Byrne Asset Management LLC now owns 7,595 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 3,115 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Genworth Financial by 140.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,063 shares of the financial services provider’s stock valued at $63,000 after acquiring an additional 4,708 shares during the period. Abel Hall LLC purchased a new stake in shares of Genworth Financial during the 1st quarter valued at about $71,000. Finally, Blueshift Asset Management LLC purchased a new stake in Genworth Financial in the 1st quarter worth approximately $71,000. 81.85% of the stock is currently owned by institutional investors.

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.