Genworth Financial (NYSE:GNW) Releases Quarterly Earnings Results

Genworth Financial (NYSE:GNW) posted its earnings results on Wednesday. The financial services provider reported $0.11 earnings per share for the quarter, reports. The firm had revenue of $1.72 billion during the quarter. Genworth Financial had a net margin of 1.19% and a return on equity of 0.32%.

Genworth Financial Stock Performance

Shares of GNW stock traded up $0.05 on Friday, hitting $7.07. 4,652,632 shares of the stock traded hands, compared to its average volume of 2,179,316. Genworth Financial has a 1-year low of $5.32 and a 1-year high of $7.25. The company has a market capitalization of $3.05 billion, a PE ratio of 33.76 and a beta of 0.95. The company’s fifty day moving average is $6.86 and its 200 day moving average is $6.54. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.29 and a quick ratio of 0.29.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Genworth Financial from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th.

Insider Transactions at Genworth Financial

In related news, CEO Thomas J. Mcinerney sold 150,000 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $6.88, for a total value of $1,032,000.00. Following the completion of the sale, the chief executive officer now directly owns 4,532,954 shares of the company’s stock, valued at approximately $31,186,723.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Genworth Financial

Several hedge funds and other institutional investors have recently modified their holdings of GNW. Headlands Technologies LLC acquired a new position in Genworth Financial during the first quarter worth approximately $25,000. EverSource Wealth Advisors LLC boosted its stake in Genworth Financial by 72.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,828 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 2,022 shares during the last quarter. SageView Advisory Group LLC purchased a new position in Genworth Financial in the first quarter valued at approximately $30,000. Harbor Capital Advisors Inc. bought a new position in shares of Genworth Financial in the third quarter worth $30,000. Finally, GAMMA Investing LLC boosted its position in Genworth Financial by 34.0% during the third quarter. GAMMA Investing LLC now owns 9,247 shares of the financial services provider’s stock valued at $63,000 after buying an additional 2,347 shares during the period. Institutional investors own 81.85% of the company’s stock.

About Genworth Financial

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.