Genworth Financial (NYSE:GNW) CEO Sells $1,053,000.00 in Stock

Genworth Financial, Inc. (NYSE:GNW) CEO Thomas Mcinerney sold 100,000 shares of Genworth Financial stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $10.53, for a total value of $1,053,000.00. Following the completion of the sale, the chief executive officer owned 5,068,883 shares of the company’s stock, valued at approximately $53,375,337.99. The trade was a 1.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Genworth Financial Stock Down 0.5%

Shares of NYSE GNW opened at $10.44 on Friday. The firm has a market cap of $3.94 billion, a PE ratio of 20.07 and a beta of 0.85. The company’s fifty day simple moving average is $9.91 and its 200 day simple moving average is $9.14. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.15. Genworth Financial, Inc. has a 12-month low of $7.84 and a 12-month high of $10.69.

Genworth Financial (NYSE:GNW) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $0.29 EPS for the quarter, beating the consensus estimate of $0.28 by $0.01. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.90 billion. Genworth Financial had a return on equity of 1.06% and a net margin of 2.87%. As a group, sell-side analysts forecast that Genworth Financial, Inc. will post 1.11 earnings per share for the current fiscal year.

Institutional Trading of Genworth Financial

Institutional investors have recently made changes to their positions in the stock. Donald Smith & CO. Inc. bought a new stake in shares of Genworth Financial during the 2nd quarter valued at about $212,906,000. Norges Bank bought a new position in Genworth Financial in the 4th quarter worth about $45,912,000. Gendell Jeffrey L grew its holdings in shares of Genworth Financial by 168.0% during the fourth quarter. Gendell Jeffrey L now owns 6,485,888 shares of the financial services provider’s stock valued at $58,568,000 after buying an additional 4,065,684 shares during the last quarter. California State Teachers Retirement System boosted its stake in Genworth Financial by 772.0% during the 2nd quarter. California State Teachers Retirement System now owns 4,200,295 shares of the financial services provider’s stock valued at $39,777,000 after purchasing an additional 3,718,616 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Genworth Financial in the 2nd quarter worth about $22,798,000. Hedge funds and other institutional investors own 81.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on GNW shares. Zacks Research upgraded shares of Genworth Financial to a “hold” rating in a research note on Wednesday, May 27th. Wall Street Zen raised shares of Genworth Financial from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Weiss Ratings upgraded shares of Genworth Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, September 2nd. Finally, Keefe, Bruyette & Woods upgraded Genworth Financial from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $12.00.

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.