Genworth Financial (NYSE:GNW) Downgraded to "Sell" Rating by Wall Street Zen

Key Points

• Genworth Financial has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, indicating bearish sentiment towards the stock's performance.
• Despite the downgrade, Keefe, Bruyette & Woods has raised the target price for Genworth Financial from $9.00 to $9.50, maintaining an "outperform" rating.
• CEO Rohit Gupta recently sold 86,406 shares of Genworth, marking a significant decrease in his ownership position, which now totals approximately $6.9 million.

Genworth Financial (NYSE:GNW - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Sunday.

Separately, Keefe, Bruyette & Woods boosted their price objective on shares of Genworth Financial from $9.00 to $9.50 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $9.50.

Genworth Financial Stock Up 3.0%

GNW stock traded up $0.26 during trading on Friday, reaching $8.81. The stock had a trading volume of 4,120,894 shares, compared to its average volume of 3,659,013. Genworth Financial has a 1-year low of $5.99 and a 1-year high of $8.81. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $3.61 billion, a P/E ratio of 19.57 and a beta of 0.94. The firm has a fifty day moving average price of $8.11 and a 200 day moving average price of $7.36.

Genworth Financial (NYSE:GNW - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.05 by $0.11. Genworth Financial had a net margin of 2.61% and a return on equity of 1.91%. The firm had revenue of $1.80 billion for the quarter.

Insider Buying and Selling

In other Genworth Financial news, CEO Rohit Gupta sold 86,406 shares of the company's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $8.68, for a total value of $750,004.08. Following the completion of the transaction, the chief executive officer owned 794,630 shares in the company, valued at approximately $6,897,388.40. This represents a 9.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.80% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Squarepoint Ops LLC boosted its holdings in shares of Genworth Financial by 50.9% in the second quarter. Squarepoint Ops LLC now owns 180,283 shares of the financial services provider's stock valued at $1,403,000 after acquiring an additional 60,787 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Genworth Financial by 20.2% in the second quarter. Thrivent Financial for Lutherans now owns 377,063 shares of the financial services provider's stock valued at $2,934,000 after acquiring an additional 63,400 shares in the last quarter. State of Wyoming boosted its holdings in shares of Genworth Financial by 326.2% in the second quarter. State of Wyoming now owns 34,583 shares of the financial services provider's stock valued at $269,000 after acquiring an additional 26,469 shares in the last quarter. Hudson Bay Capital Management LP bought a new position in shares of Genworth Financial in the second quarter valued at approximately $5,616,000. Finally, Public Sector Pension Investment Board boosted its holdings in shares of Genworth Financial by 4.3% in the second quarter. Public Sector Pension Investment Board now owns 1,412,952 shares of the financial services provider's stock valued at $10,993,000 after acquiring an additional 58,755 shares in the last quarter. 81.85% of the stock is currently owned by institutional investors.

Genworth Financial Company Profile

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.