Genworth Financial (NYSE:GNW – Get Free Report) issued its quarterly earnings results on Wednesday. The financial services provider reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01), Zacks reports. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.88 billion. Genworth Financial had a net margin of 2.87% and a return on equity of 1.06%.
Genworth Financial Stock Down 1.7%
Genworth Financial stock traded down $0.15 on Thursday, hitting $9.04. 3,446,233 shares of the stock traded hands, compared to its average volume of 3,335,790. Genworth Financial has a 1 year low of $7.84 and a 1 year high of $10.69. The firm has a market cap of $3.41 billion, a P/E ratio of 17.41 and a beta of 0.87. The business’s fifty day simple moving average is $9.55 and its 200 day simple moving average is $9.12. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.15.
Analyst Upgrades and Downgrades
GNW has been the subject of several analyst reports. Weiss Ratings upgraded shares of Genworth Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 21st. Keefe, Bruyette & Woods downgraded Genworth Financial from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $11.50 to $10.50 in a report on Friday, October 9th. Finally, Wall Street Zen raised Genworth Financial from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Genworth Financial currently has a consensus rating of “Hold” and a consensus price target of $10.50.
Check Out Our Latest Stock Report on Genworth Financial
Insider Activity
In other news, EVP Melissa Hagerman sold 14,708 shares of Genworth Financial stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $9.91, for a total value of $145,756.28. Following the completion of the transaction, the executive vice president owned 192,539 shares of the company’s stock, valued at $1,908,061.49. The trade was a 7.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas McInerney sold 100,000 shares of the company’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $10.53, for a total transaction of $1,053,000.00. Following the completion of the transaction, the chief executive officer owned 5,068,883 shares in the company, valued at approximately $53,375,337.99. The trade was a 1.93% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.80% of the stock is owned by insiders.
Genworth Financial Company Profile
Genworth Financial, Inc is an insurance holding company headquartered in Richmond, Virginia. The company’s principal business is mortgage insurance, primarily through its majority-owned subsidiary, Enact Holdings, Inc Enact provides private mortgage insurance to lenders and mortgage investors, helping eligible borrowers obtain home loans with smaller down payments while reducing lenders’ exposure to borrower default.
Genworth also manages long-term care insurance businesses and legacy insurance obligations in the United States.
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