Genworth Financial, Inc. (NYSE:GNW) Sees Large Decrease in Short Interest

Genworth Financial, Inc. (NYSE:GNW) was the recipient of a large drop in short interest during the month of March. As of March 31st, there was short interest totaling 6,688,740 shares, a drop of 13.4% from the March 15th total of 7,723,706 shares. Approximately 1.8% of the company’s shares are sold short. Based on an average trading volume of 3,460,578 shares, the days-to-cover ratio is currently 1.9 days.

Genworth Financial Stock Up 1.8%

Shares of NYSE GNW traded up $0.16 during midday trading on Friday, reaching $8.73. 4,398,156 shares of the company’s stock traded hands, compared to its average volume of 3,174,193. 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 stock’s 50 day simple moving average is $8.47 and its 200-day simple moving average is $8.61. Genworth Financial has a one year low of $6.29 and a one year high of $9.28. The company has a market cap of $3.38 billion, a price-to-earnings ratio of 16.46 and a beta of 1.00.

Genworth Financial (NYSE:GNW) last released its quarterly earnings data on Monday, February 23rd. The financial services provider reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.14). Genworth Financial had a net margin of 3.05% and a return on equity of 1.48%. The business had revenue of $1.04 billion for the quarter.

Analyst Ratings Changes

Several research firms have recently issued reports on GNW. Keefe, Bruyette & Woods restated a “moderate buy” rating and issued a $10.50 target price on shares of Genworth Financial in a report on Thursday, March 26th. Weiss Ratings lowered shares of Genworth Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, March 5th. Finally, Wall Street Zen lowered shares of Genworth Financial from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $10.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Captrust Financial Advisors grew its position in shares of Genworth Financial by 8.3% in the 4th quarter. Captrust Financial Advisors now owns 14,770 shares of the financial services provider’s stock worth $133,000 after buying an additional 1,133 shares during the last quarter. Truist Financial Corp grew its position in shares of Genworth Financial by 9.6% in the 4th quarter. Truist Financial Corp now owns 14,342 shares of the financial services provider’s stock worth $130,000 after buying an additional 1,257 shares during the last quarter. Arizona State Retirement System grew its position in shares of Genworth Financial by 1.0% in the 3rd quarter. Arizona State Retirement System now owns 122,642 shares of the financial services provider’s stock worth $1,092,000 after buying an additional 1,271 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of Genworth Financial by 12.7% in the 3rd quarter. Smartleaf Asset Management LLC now owns 11,638 shares of the financial services provider’s stock worth $104,000 after buying an additional 1,316 shares during the last quarter. Finally, Abel Hall LLC grew its position in shares of Genworth Financial by 11.9% in the 4th quarter. Abel Hall LLC now owns 12,672 shares of the financial services provider’s stock worth $114,000 after buying an additional 1,348 shares during the last quarter. Hedge funds and other 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.