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

Genworth Financial, Inc. (NYSE:GNW) CEO Thomas Mcinerney sold 100,000 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $9.27, for a total value of $927,000.00. Following the completion of the transaction, the chief executive officer owned 5,368,883 shares of the company’s stock, valued at approximately $49,769,545.41. This represents a 1.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Genworth Financial Price Performance

Shares of GNW stock traded down $0.18 during mid-day trading on Wednesday, reaching $8.85. The stock had a trading volume of 2,109,568 shares, compared to its average volume of 3,346,684. The company has a market cap of $3.39 billion, a P/E ratio of 17.03 and a beta of 0.89. The business has a 50-day simple moving average of $8.69 and a 200 day simple moving average of $8.68. 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.

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on GNW. Weiss Ratings upgraded Genworth Financial from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. Wall Street Zen cut Genworth Financial from a “hold” rating to a “sell” rating in a research report on Sunday, May 17th. Finally, Keefe, Bruyette & Woods lifted their price objective on Genworth Financial from $10.50 to $11.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $11.00.

Hedge Funds Weigh In On Genworth Financial

A number of hedge funds have recently made changes to their positions in the stock. Bessemer Group Inc. increased its holdings 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 buying an additional 1,445 shares during the last quarter. Headlands Technologies LLC acquired a new position in Genworth Financial in the second quarter valued at $44,000. Larson Financial Group LLC grew its position in Genworth Financial by 12,597.7% during the third quarter. Larson Financial Group LLC now owns 5,587 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 5,543 shares during the period. Atlas Wealth LLC purchased a new stake in Genworth Financial during the first quarter valued at about $51,000. Finally, Danske Bank A S acquired a new stake in Genworth Financial during the third quarter worth about $60,000. Institutional investors and hedge funds 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.