Genworth Financial (NYSE:GNW) Director Robert Restrepo, Jr. Sells 50,000 Shares of Stock

Genworth Financial, Inc. (NYSE:GNW) Director Robert Restrepo, Jr. sold 50,000 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $9.12, for a total value of $456,000.00. Following the completion of the transaction, the director directly owned 92,655 shares in the company, valued at $845,013.60. This trade represents a 35.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Genworth Financial Price Performance

GNW opened at $9.03 on Wednesday. Genworth Financial, Inc. has a 12-month low of $6.72 and a 12-month high of $9.45. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.15. The business’s fifty day simple moving average is $8.69 and its 200-day simple moving average is $8.68. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of 17.37 and a beta of 0.89.

Genworth Financial (NYSE:GNW) last posted its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.10. Genworth Financial had a return on equity of 1.73% and a net margin of 2.96%.The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.72 billion.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GNW. Weiss Ratings raised Genworth Financial from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. Keefe, Bruyette & Woods boosted their target price on shares of Genworth Financial from $10.50 to $11.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Finally, Wall Street Zen cut shares of Genworth Financial from a “hold” rating to a “sell” rating in a report on Sunday, May 17th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Bessemer Group Inc. raised its stake in shares of Genworth Financial by 60.6% during the 3rd quarter. Bessemer Group Inc. now owns 3,830 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 1,445 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Genworth Financial in the second quarter valued at about $44,000. Larson Financial Group LLC boosted its holdings in Genworth Financial by 12,597.7% in the third quarter. Larson Financial Group LLC now owns 5,587 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 5,543 shares in the last quarter. Atlas Wealth LLC acquired a new stake in Genworth Financial in the first quarter worth about $51,000. Finally, Danske Bank A S acquired a new stake in Genworth Financial in the third quarter worth about $60,000. Institutional investors own 81.85% of the company’s stock.

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.