Thomas Mcinerney Sells 100,000 Shares of Genworth Financial (NYSE:GNW) Stock

Genworth Financial, Inc. (NYSE:GNW) CEO Thomas Mcinerney sold 100,000 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $9.27, for a total value of $927,000.00. Following the transaction, the chief executive officer owned 5,368,883 shares in the company, valued at $49,769,545.41. The trade was a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Genworth Financial Price Performance

Genworth Financial stock opened at $8.65 on Friday. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of 16.63 and a beta of 0.89. Genworth Financial, Inc. has a 52-week low of $6.72 and a 52-week high of $9.45. The stock’s 50 day moving average price is $8.72 and its two-hundred day moving average price is $8.68. 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 (NYSE:GNW) last issued its earnings results on Tuesday, May 5th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.10. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.72 billion. Genworth Financial had a net margin of 2.96% and a return on equity of 1.73%. On average, equities analysts predict that Genworth Financial, Inc. will post 0.44 earnings per share for the current year.

Hedge Funds Weigh In On Genworth Financial

A number of large investors have recently modified their holdings of GNW. Royal Bank of Canada lifted its holdings in shares of Genworth Financial by 75.8% in the 1st quarter. Royal Bank of Canada now owns 118,058 shares of the financial services provider’s stock worth $837,000 after purchasing an additional 50,911 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Genworth Financial by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 252,152 shares of the financial services provider’s stock worth $1,788,000 after purchasing an additional 7,106 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Genworth Financial by 4.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,184,144 shares of the financial services provider’s stock worth $8,396,000 after purchasing an additional 55,071 shares in the last quarter. Strs Ohio bought a new position in shares of Genworth Financial in the 1st quarter worth $82,000. Finally, Invesco Ltd. lifted its holdings in shares of Genworth Financial by 41.0% in the 2nd quarter. Invesco Ltd. now owns 4,291,220 shares of the financial services provider’s stock worth $33,386,000 after purchasing an additional 1,248,374 shares in the last quarter. 81.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on GNW shares. Weiss Ratings raised shares of Genworth Financial from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. Wall Street Zen lowered shares of Genworth Financial from a “hold” rating to a “sell” rating in a research note on Sunday, May 17th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Genworth Financial from $10.50 to $11.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Genworth Financial presently has an average rating of “Moderate Buy” and an average price target of $11.00.

Genworth Financial Company Profile

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.