Genworth Financial (NYSE:GNW) Posts Earnings Results, Beats Estimates By $0.10 EPS

Genworth Financial (NYSE:GNW) posted its quarterly earnings results on Tuesday. The financial services provider reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.10, FiscalAI reports. Genworth Financial had a return on equity of 1.48% and a net margin of 3.05%.The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.48 billion.

Genworth Financial Trading Up 0.1%

Shares of GNW traded up $0.01 during trading hours on Tuesday, hitting $8.88. The company had a trading volume of 3,244,747 shares, compared to its average volume of 3,496,462. The firm has a market cap of $3.44 billion, a P/E ratio of 16.75 and a beta of 0.89. The stock’s 50 day moving average price is $8.46 and its 200 day moving average price is $8.61. 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 has a 52-week low of $6.63 and a 52-week high of $9.28.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Headlands Technologies LLC purchased a new position in shares of Genworth Financial in the second quarter worth about $44,000. Larson Financial Group LLC increased its holdings in shares of Genworth Financial by 12,597.7% in the third quarter. Larson Financial Group LLC now owns 5,587 shares of the financial services provider’s stock worth $50,000 after buying an additional 5,543 shares during the period. Danske Bank A S purchased a new position in shares of Genworth Financial in the third quarter worth about $60,000. EverSource Wealth Advisors LLC increased its holdings in shares of Genworth Financial by 140.3% in the second quarter. EverSource Wealth Advisors LLC now owns 8,063 shares of the financial services provider’s stock worth $63,000 after buying an additional 4,708 shares during the period. Finally, Strs Ohio purchased a new position in shares of Genworth Financial in the first quarter worth about $82,000. Hedge funds and other institutional investors own 81.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on GNW shares. 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 reiterated a “moderate buy” rating and issued a $10.50 price objective on shares of Genworth Financial in a research report on Thursday, March 26th. Finally, Wall Street Zen downgraded Genworth Financial from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $10.50.

About Genworth Financial

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.