Insider Selling: Genworth Financial (NYSE:GNW) CEO Sells $1,053,000.00 in Stock

Genworth Financial, Inc. (NYSE:GNWGet Free Report) CEO Thomas Mcinerney sold 100,000 shares of Genworth Financial 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 directly owned 5,068,883 shares of the company’s stock, valued at $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 accessible through the SEC website.

Genworth Financial Stock Up 0.9%

Shares of GNW traded up $0.10 on Tuesday, hitting $10.45. 4,846,468 shares of the stock traded hands, compared to its average volume of 3,191,608. Genworth Financial, Inc. has a one year low of $7.84 and a one year high of $10.69. The company has a market capitalization of $3.95 billion, a PE ratio of 20.09 and a beta of 0.85. The business has a 50 day simple moving average of $9.86 and a 200 day simple moving average of $9.10. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.29 and a current ratio of 0.29.

Genworth Financial (NYSE:GNWGet Free Report) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $0.29 EPS for the quarter, beating the consensus estimate of $0.28 by $0.01. Genworth Financial had a return on equity of 1.06% and a net margin of 2.87%.The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.90 billion. As a group, equities analysts forecast that Genworth Financial, Inc. will post 1.1 earnings per share for the current fiscal year.

Institutional Trading of Genworth Financial

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE raised its stake 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 valued at $17,528,000 after purchasing an additional 1,232,931 shares during the period. Fifth Third Bancorp grew its holdings in Genworth Financial by 21,643.4% during the 1st quarter. Fifth Third Bancorp now owns 562,936 shares of the financial services provider’s stock valued at $4,571,000 after buying an additional 560,347 shares in the last quarter. Hsbc Holdings PLC bought a new stake in shares of Genworth Financial during the fourth quarter valued at approximately $1,360,000. SG Americas Securities LLC lifted its holdings in shares of Genworth Financial by 173.7% in the first quarter. SG Americas Securities LLC now owns 1,188,288 shares of the financial services provider’s stock worth $9,649,000 after buying an additional 754,105 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Genworth Financial during the fourth quarter worth $45,912,000. 81.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Keefe, Bruyette & Woods upgraded shares of Genworth Financial from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. Weiss Ratings upgraded shares of Genworth Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, September 2nd. Wall Street Zen upgraded shares of Genworth Financial from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, Zacks Research upgraded Genworth Financial to a “hold” rating in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $12.00.

Read Our Latest Research Report on GNW

About Genworth Financial

(Get Free Report)

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.

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