Genworth Financial (NYSE:GNW) CEO Sells $927,000.00 in Stock

Genworth Financial, Inc. (NYSE:GNW) CEO Thomas Mcinerney sold 100,000 shares of Genworth Financial stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $9.27, for a total transaction of $927,000.00. Following the completion of the sale, the chief executive officer owned 5,368,883 shares of the company’s stock, valued at $49,769,545.41. This trade represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Genworth Financial Stock Down 0.5%

GNW stock opened at $8.58 on Friday. The firm has a 50 day moving average of $8.73 and a 200 day moving average of $8.68. The stock has a market capitalization of $3.28 billion, a PE ratio of 16.49 and a beta of 0.89. 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, Inc. has a 52 week low of $6.72 and a 52 week high of $9.45.

Genworth Financial (NYSE:GNW) last released its earnings results on Tuesday, May 5th. The financial services provider reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.10. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Genworth Financial had a net margin of 2.96% and a return on equity of 1.73%. Sell-side analysts forecast that Genworth Financial, Inc. will post 0.44 earnings per share for the current year.

Hedge Funds Weigh In On Genworth Financial

A number of institutional investors have recently bought and sold shares of GNW. Norges Bank purchased a new position in Genworth Financial during the 4th quarter worth approximately $45,912,000. Gendell Jeffrey L raised its position in Genworth Financial by 168.0% during the 4th quarter. Gendell Jeffrey L now owns 6,485,888 shares of the financial services provider’s stock worth $58,568,000 after buying an additional 4,065,684 shares during the last quarter. UBS Group AG raised its position in Genworth Financial by 621.2% during the 4th quarter. UBS Group AG now owns 3,598,588 shares of the financial services provider’s stock worth $32,495,000 after buying an additional 3,099,582 shares during the last quarter. Invesco Ltd. raised its position in Genworth Financial by 41.0% during the 2nd quarter. Invesco Ltd. now owns 4,291,220 shares of the financial services provider’s stock worth $33,386,000 after buying an additional 1,248,374 shares during the last quarter. Finally, Bank of America Corp DE raised its position in Genworth Financial by 133.2% during the 1st quarter. Bank of America Corp DE now owns 2,158,625 shares of the financial services provider’s stock worth $17,528,000 after buying an additional 1,232,931 shares during the last quarter. 81.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Wall Street Zen cut shares of Genworth Financial from a “hold” rating to a “sell” rating in a research note on Sunday, May 17th. Keefe, Bruyette & Woods lifted their target price on shares of Genworth Financial from $10.50 to $11.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Zacks Research upgraded shares of Genworth Financial to a “hold” rating in a research note on Wednesday. Finally, Weiss Ratings upgraded shares of Genworth Financial from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Genworth Financial presently has a consensus rating of “Hold” and a consensus price target of $11.00.

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.