Genworth Financial, Inc. (NYSE:GNW) Sees Large Increase in Short Interest

Genworth Financial, Inc. (NYSE:GNW) saw a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 5,690,000 shares, a growth of 5.2% from the August 31st total of 5,410,000 shares. Approximately 1.3% of the company’s shares are short sold. Based on an average daily volume of 2,760,000 shares, the short-interest ratio is presently 2.1 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Genworth Financial from a “buy” rating to a “hold” rating in a research report on Friday, September 6th.

Genworth Financial Stock Down 0.9 %

Shares of NYSE GNW traded down $0.06 during trading hours on Tuesday, hitting $6.79. 3,166,606 shares of the stock were exchanged, compared to its average volume of 2,808,044. Genworth Financial has a 12 month low of $5.32 and a 12 month high of $7.01. The firm has a fifty day moving average price of $6.70 and a 200-day moving average price of $6.40. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.17. The company has a market cap of $2.97 billion, a PE ratio of 35.79 and a beta of 0.94.

Genworth Financial (NYSE:GNW) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.28 EPS for the quarter, beating the consensus estimate of $0.19 by $0.09. The firm had revenue of $1.77 billion during the quarter. Genworth Financial had a net margin of 0.43% and a return on equity of 0.25%. During the same period in the previous year, the business earned $0.29 earnings per share.

Insider Activity at Genworth Financial

In other Genworth Financial news, CEO Thomas J. Mcinerney sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $6.88, for a total transaction of $1,032,000.00. Following the completion of the transaction, the chief executive officer now owns 4,532,954 shares in the company, valued at $31,186,723.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Genworth Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC acquired a new stake in shares of Genworth Financial during the 1st quarter worth approximately $25,000. SageView Advisory Group LLC purchased a new position in Genworth Financial in the first quarter valued at $30,000. EverSource Wealth Advisors LLC raised its position in shares of Genworth Financial by 72.1% in the second quarter. EverSource Wealth Advisors LLC now owns 4,828 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 2,022 shares during the period. Nomura Asset Management Co. Ltd. raised its position in shares of Genworth Financial by 29.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 8,700 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 2,000 shares during the period. Finally, Empowered Funds LLC purchased a new stake in shares of Genworth Financial during the 1st quarter worth about $67,000. 81.85% of the stock is owned by institutional investors and hedge funds.

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.