Insider Selling: Genworth Financial (NYSE:GNW) EVP Sells $145,756.28 in Stock

Key Points

• Genworth Financial EVP Melissa Hagerman sold 14,708 shares at an average price of $9.91, generating $145,756.28 and reducing her ownership by 7.1%.
• GNW shares fell 0.1% to $9.88, while the company reported quarterly EPS of $0.29, slightly exceeding analyst expectations of $0.28.
• Analyst sentiment remains moderately positive, with a consensus “Moderate Buy” rating and a $12.00 price target; institutional investors own 81.85% of the stock.

Genworth Financial, Inc. (NYSE:GNW - Get Free Report) EVP Melissa Hagerman sold 14,708 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $9.91, for a total transaction of $145,756.28. Following the transaction, the executive vice president owned 192,539 shares in the company, valued at $1,908,061.49. The trade was a 7.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Genworth Financial Trading Down 0.1%

GNW traded down $0.01 on Tuesday, hitting $9.88. 2,294,347 shares of the company were exchanged, compared to its average volume of 3,171,395. 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, Inc. has a 12 month low of $7.84 and a 12 month high of $10.28. The firm has a fifty day simple moving average of $9.67 and a two-hundred day simple moving average of $9.02. The stock has a market capitalization of $3.74 billion, a PE ratio of 19.01 and a beta of 0.87.

Genworth Financial (NYSE:GNW - Get Free Report) last posted its earnings results on Wednesday, August 5th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.01. The company had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $1.90 billion. Genworth Financial had a return on equity of 1.06% and a net margin of 2.87%. Sell-side analysts expect that Genworth Financial, Inc. will post 1.1 earnings per share for the current year.

Institutional Investors Weigh In On Genworth Financial

Institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC bought a new position in shares of Genworth Financial during the second quarter worth $44,000. Larson Financial Group LLC grew its stake in shares of Genworth Financial by 12,597.7% in the 3rd quarter. Larson Financial Group LLC now owns 5,587 shares of the financial services provider's stock worth $50,000 after buying an additional 5,543 shares in the last quarter. Atlas Wealth LLC purchased a new stake in Genworth Financial during the first quarter valued at approximately $51,000. Danske Bank A S bought a new stake in Genworth Financial in the third quarter worth $60,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Genworth Financial by 140.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,063 shares of the financial services provider's stock worth $63,000 after acquiring an additional 4,708 shares during the last quarter. 81.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on GNW. Weiss Ratings downgraded Genworth Financial from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, August 19th. Keefe, Bruyette & Woods upgraded shares of Genworth Financial from a "moderate buy" rating to a "strong-buy" rating in a report on Tuesday, August 11th. Wall Street Zen raised Genworth Financial from a "sell" rating to a "hold" rating in a report on Sunday, July 12th. Finally, Zacks Research raised shares of Genworth Financial to a "hold" rating in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, Genworth Financial presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.00.

About Genworth Financial

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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