Genworth Financial, Inc. (NYSE:GNW) Short Interest Update

Genworth Financial, Inc. (NYSE:GNW) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totalling 5,410,000 shares, a growth of 8.0% from the August 15th total of 5,010,000 shares. Based on an average trading volume of 2,810,000 shares, the days-to-cover ratio is currently 1.9 days. Approximately 1.3% of the company’s stock are short sold.

Insider Activity at Genworth Financial

In other Genworth Financial news, CEO Thomas J. Mcinerney sold 150,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $6.88, for a total transaction of $1,032,000.00. Following the transaction, the chief executive officer now owns 4,532,954 shares of the company’s stock, valued at approximately $31,186,723.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Genworth Financial

A number of large investors have recently made changes to their positions in GNW. Algert Global LLC grew its stake in Genworth Financial by 52.1% during the 2nd quarter. Algert Global LLC now owns 593,031 shares of the financial services provider’s stock worth $3,582,000 after buying an additional 203,031 shares during the last quarter. Susquehanna Fundamental Investments LLC boosted its holdings in Genworth Financial by 277.8% in the second quarter. Susquehanna Fundamental Investments LLC now owns 258,566 shares of the financial services provider’s stock worth $1,562,000 after acquiring an additional 190,134 shares in the last quarter. Mackenzie Financial Corp grew its stake in shares of Genworth Financial by 4.3% during the second quarter. Mackenzie Financial Corp now owns 104,156 shares of the financial services provider’s stock worth $629,000 after acquiring an additional 4,320 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Genworth Financial by 51.5% during the second quarter. Millennium Management LLC now owns 2,778,921 shares of the financial services provider’s stock valued at $16,785,000 after acquiring an additional 944,677 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its position in shares of Genworth Financial by 93.5% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 4,052,621 shares of the financial services provider’s stock valued at $24,478,000 after purchasing an additional 1,958,632 shares during the last quarter. 81.85% of the stock is owned by institutional investors and hedge funds.

Genworth Financial Stock Performance

Shares of Genworth Financial stock opened at $6.75 on Tuesday. The company has a market capitalization of $2.95 billion, a PE ratio of 35.53 and a beta of 0.94. The company has a 50-day simple moving average of $6.60 and a two-hundred day simple moving average of $6.36. Genworth Financial has a one year low of $5.32 and a one year high of $7.01. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.29 and a current ratio of 0.29.

Genworth Financial (NYSE:GNW) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.28 EPS for the quarter, topping the consensus estimate of $0.19 by $0.09. Genworth Financial had a net margin of 0.43% and a return on equity of 0.25%. The firm had revenue of $1.77 billion during the quarter. During the same quarter last year, the firm earned $0.29 EPS.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Genworth Financial from a “buy” rating to a “hold” rating in a research report on Friday, September 6th.

Genworth Financial Company Profile

Genworth Financial, Inc, together with its subsidiaries, provides mortgage and long-term care insurance products in the United States and internationally. It operates in three segments: Enact, Long-Term Care Insurance, and Life and Annuities. The Enact segment offers private mortgage insurance products primarily insuring prime-based, individually underwritten residential mortgage loans; and pool mortgage insurance products.