StockNews.com Upgrades Genworth Financial (NYSE:GNW) to “Buy”

StockNews.com upgraded shares of Genworth Financial (NYSE:GNW) from a hold rating to a buy rating in a research note published on Monday.

Genworth Financial Price Performance

GNW opened at $6.90 on Monday. The company’s 50-day simple moving average is $6.86 and its two-hundred day simple moving average is $6.48. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a market capitalization of $3.02 billion, a P/E ratio of 36.32 and a beta of 0.94. Genworth Financial has a 52-week low of $5.32 and a 52-week high of $7.25.

Genworth Financial (NYSE:GNW) last issued its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.09. Genworth Financial had a net margin of 0.43% and a return on equity of 0.25%. The company had revenue of $1.77 billion for the quarter. During the same quarter last year, the company earned $0.29 EPS.

Insider Buying and Selling

In other Genworth Financial news, CEO Thomas J. Mcinerney sold 150,000 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $6.88, for a total value of $1,032,000.00. Following the transaction, the chief executive officer now owns 4,532,954 shares of the company’s stock, valued at approximately $31,186,723.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Genworth Financial

Several hedge funds and other institutional investors have recently made changes to their positions in GNW. Headlands Technologies LLC bought a new stake in Genworth Financial during the first quarter valued at approximately $25,000. EverSource Wealth Advisors LLC grew its position in shares of Genworth Financial by 72.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,828 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 2,022 shares during the period. SageView Advisory Group LLC bought a new stake in shares of Genworth Financial during the 1st quarter valued at $30,000. GAMMA Investing LLC increased its stake in shares of Genworth Financial by 34.0% in the 3rd quarter. GAMMA Investing LLC now owns 9,247 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 2,347 shares in the last quarter. Finally, Empowered Funds LLC bought a new position in Genworth Financial in the 1st quarter worth $67,000. Hedge funds and other institutional investors own 81.85% of the company’s stock.

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.