Genworth Financial (NYSE:GNW) Given Market Perform Rating at Keefe, Bruyette & Woods

Genworth Financial (NYSE:GNW)‘s stock had its “market perform” rating reiterated by equities researchers at Keefe, Bruyette & Woods in a research note issued on Friday, Benzinga reports. They presently have a $10.50 price objective on the financial services provider’s stock, down from their previous price objective of $11.50. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 7.97% from the company’s previous close.

A number of other brokerages have also recently issued reports on GNW. Wall Street Zen upgraded Genworth Financial from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Weiss Ratings downgraded shares of Genworth Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday. Three analysts have rated the stock with a Hold rating, According to MarketBeat, Genworth Financial currently has a consensus rating of “Hold” and an average target price of $10.50.

Genworth Financial Price Performance

Shares of NYSE:GNW opened at $9.72 on Friday. The business’s fifty day moving average price is $9.90 and its two-hundred day moving average price is $9.34. The stock has a market cap of $3.67 billion, a PE ratio of 18.70 and a beta of 0.88. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.29 and a current ratio of 0.29. Genworth Financial has a one year low of $7.84 and a one year high of $10.69.

Genworth Financial (NYSE:GNW) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.01. Genworth Financial had a return on equity of 1.06% and a net margin of 2.87%.The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.90 billion. On average, analysts forecast that Genworth Financial will post 1.11 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Thomas J. Mcinerney sold 100,000 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer owned 5,068,883 shares of the company’s stock, valued at approximately $53,375,337.99. The trade was a 1.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Melissa Hagerman sold 14,708 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $9.91, for a total transaction of $145,756.28. Following the transaction, the executive vice president owned 192,539 shares of the company’s stock, valued at $1,908,061.49. This represents a 7.10% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.80% of the stock is owned by corporate insiders.

Institutional Trading of Genworth Financial

Several hedge funds have recently bought and sold shares of GNW. Donald Smith & CO. Inc. acquired a new position in Genworth Financial during the 2nd quarter valued at about $212,906,000. Bank of New York Mellon Corp bought a new position in Genworth Financial in the 2nd quarter worth about $22,798,000. Bank of America Corp DE increased its stake in shares of Genworth Financial by 133.2% in the first quarter. Bank of America Corp DE now owns 2,158,625 shares of the financial services provider’s stock valued at $17,528,000 after purchasing an additional 1,232,931 shares during the period. Principal Financial Group Inc. increased its stake in shares of Genworth Financial by 1.9% in the first quarter. Principal Financial Group Inc. now owns 1,940,885 shares of the financial services provider’s stock valued at $15,760,000 after purchasing an additional 37,098 shares during the period. Finally, SG Americas Securities LLC raised its holdings in shares of Genworth Financial by 173.7% during the first quarter. SG Americas Securities LLC now owns 1,188,288 shares of the financial services provider’s stock valued at $9,649,000 after buying an additional 754,105 shares during the last quarter. 81.85% of the stock is currently owned by institutional investors.

Genworth Financial Company Profile

Genworth Financial, Inc is a financial services company focused primarily on mortgage insurance and long-term care insurance. Through its U.S. mortgage insurance operations, including its majority-owned subsidiary Enact Holdings, the company helps lenders manage credit risk and supports access to homeownership by insuring residential mortgage loans.

Genworth also manages a portfolio of U.S. life insurance and long-term care insurance products. Its life insurance operations primarily serve existing policyholders, with an emphasis on administering in-force policies and managing long-term obligations rather than pursuing broad new sales.