Genworth Financial (NYSE:GNW) CEO Sells 100,000 Shares

Genworth Financial, Inc. (NYSE:GNW) CEO Thomas Mcinerney sold 100,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 5,068,883 shares of the company’s stock, valued at approximately $53,375,337.99. This trade represents a 1.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Genworth Financial Trading Up 0.9%

Shares of Genworth Financial stock traded up $0.10 during trading on Tuesday, reaching $10.45. 4,846,468 shares of the stock were exchanged, compared to its average volume of 3,191,608. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.15. The firm has a market cap of $3.95 billion, a price-to-earnings ratio of 20.09 and a beta of 0.85. Genworth Financial, Inc. has a 1 year low of $7.84 and a 1 year high of $10.69. The stock’s fifty day moving average is $9.86 and its 200 day moving average is $9.10.

Genworth Financial (NYSE:GNW) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.90 billion. As a group, equities research analysts expect that Genworth Financial, Inc. will post 1.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GNW has been the topic of several recent analyst reports. Keefe, Bruyette & Woods upgraded shares of Genworth Financial from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, August 11th. Zacks Research raised shares of Genworth Financial to a “hold” rating in a research note on Wednesday, May 27th. Weiss Ratings raised shares of Genworth Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, September 2nd. Finally, Wall Street Zen raised Genworth Financial from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $12.00.

Institutional Investors Weigh In On Genworth Financial

Hedge funds have recently bought and sold shares of the business. Donald Smith & CO. Inc. bought a new stake in shares of Genworth Financial in the 2nd quarter worth approximately $212,906,000. Nuveen LLC raised its stake in Genworth Financial by 2.3% during the fourth quarter. Nuveen LLC now owns 9,781,111 shares of the financial services provider’s stock valued at $88,323,000 after buying an additional 223,279 shares during the last quarter. Gendell Jeffrey L raised its stake in Genworth Financial by 168.0% during the fourth quarter. Gendell Jeffrey L now owns 6,485,888 shares of the financial services provider’s stock valued at $58,568,000 after buying an additional 4,065,684 shares during the last quarter. Norges Bank bought a new position in shares of Genworth Financial during the fourth quarter valued at $45,912,000. Finally, Invesco Ltd. increased its holdings in shares of Genworth Financial by 41.0% during the second quarter. Invesco Ltd. now owns 4,291,220 shares of the financial services provider’s stock valued at $33,386,000 after acquiring an additional 1,248,374 shares in the last quarter. Institutional investors own 81.85% of the company’s stock.

Genworth Financial Company Profile

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.