Genworth Financial (NYSE:GNW) Posts Earnings Results, Misses Estimates By $0.14 EPS

Genworth Financial (NYSE:GNW) posted its quarterly earnings data on Monday. The financial services provider reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.14), FiscalAI reports. Genworth Financial had a return on equity of 1.56% and a net margin of 3.01%.The company had revenue of $1.04 billion during the quarter.

Genworth Financial Stock Performance

NYSE GNW opened at $8.31 on Tuesday. The company has a market cap of $3.32 billion, a P/E ratio of 15.68 and a beta of 1.01. The company has a fifty day simple moving average of $8.77 and a 200 day simple moving average of $8.68. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.15. Genworth Financial has a 12-month low of $5.99 and a 12-month high of $9.28.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Royal Bank of Canada increased its holdings in Genworth Financial by 75.8% during 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 stake in Genworth Financial by 2.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 252,152 shares of the financial services provider’s stock valued at $1,788,000 after acquiring an additional 7,106 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Genworth Financial by 4.9% during 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 acquiring an additional 55,071 shares during the last quarter. Strs Ohio bought a new stake in shares of Genworth Financial in the 1st quarter worth $82,000. Finally, Invesco Ltd. grew its stake 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 acquiring an additional 1,248,374 shares in the last quarter. 81.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GNW. Wall Street Zen upgraded shares of Genworth Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Weiss Ratings upgraded Genworth Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $10.00.

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.