Genworth Financial (NYSE:GNW) Raised to Hold at Wall Street Zen

Key Points

• Genworth Financial has been upgraded from a "sell" rating to a "hold" rating by analysts at Wall Street Zen.
• The company reported an earnings per share (EPS) of $0.16 for the last quarter, surpassing analysts' estimates by $0.11.
• Currently, Genworth Financial's stock is trading at approximately $8.97, with an average price target among analysts set at $9.50.

Genworth Financial (NYSE:GNW - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Friday.

Several other equities analysts have also weighed in on GNW. Keefe, Bruyette & Woods increased their target price on Genworth Financial from $9.00 to $9.50 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Genworth Financial in a research note on Saturday, September 27th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $9.50.

Genworth Financial Trading Up 0.7%

Shares of NYSE:GNW traded up $0.07 during trading on Friday, hitting $8.97. 4,748,900 shares of the company's stock were exchanged, compared to its average volume of 4,629,511. 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 firm has a market cap of $3.68 billion, a P/E ratio of 19.92 and a beta of 0.99. The firm has a 50-day moving average price of $8.54 and a two-hundred day moving average price of $7.60. Genworth Financial has a 1-year low of $5.99 and a 1-year high of $9.15.

Genworth Financial (NYSE:GNW - Get Free Report) last released its earnings results 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. The firm had revenue of $1.80 billion during the quarter. Genworth Financial had a net margin of 2.61% and a return on equity of 1.91%.

Insider Activity

In related news, CEO Rohit Gupta sold 86,406 shares of the firm's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $8.68, for a total transaction of $750,004.08. Following the sale, the chief executive officer directly owned 794,630 shares in the company, valued at $6,897,388.40. This trade represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.80% of the stock is owned by corporate insiders.

Institutional Trading of Genworth Financial

A number of institutional investors have recently modified their holdings of the company. Xponance Inc. lifted its stake in Genworth Financial by 4.8% in the 1st quarter. Xponance Inc. now owns 32,525 shares of the financial services provider's stock valued at $231,000 after acquiring an additional 1,493 shares in the last quarter. Ethic Inc. boosted its holdings in Genworth Financial by 15.1% during the second quarter. Ethic Inc. now owns 14,045 shares of the financial services provider's stock worth $110,000 after purchasing an additional 1,847 shares during the last quarter. GAMMA Investing LLC grew its position in Genworth Financial by 16.3% in the third quarter. GAMMA Investing LLC now owns 13,683 shares of the financial services provider's stock valued at $122,000 after purchasing an additional 1,913 shares in the last quarter. Byrne Asset Management LLC grew its position in Genworth Financial by 69.5% in the first quarter. Byrne Asset Management LLC now owns 7,595 shares of the financial services provider's stock valued at $54,000 after purchasing an additional 3,115 shares in the last quarter. Finally, HighTower Advisors LLC increased its stake in Genworth Financial by 20.0% in the 1st quarter. HighTower Advisors LLC now owns 21,111 shares of the financial services provider's stock valued at $150,000 after buying an additional 3,521 shares during the last quarter. 81.85% of the stock is currently owned by institutional investors.

About Genworth Financial

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.

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