Genworth Financial (NYSE:GNW) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Genworth Financial (NYSE:GNW) from a hold rating to a buy rating in a research note issued to investors on Tuesday.

Genworth Financial Stock Performance

NYSE GNW opened at $7.28 on Tuesday. The company has a 50-day simple moving average of $6.88 and a two-hundred day simple moving average of $6.57. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.17. Genworth Financial has a 12-month low of $5.67 and a 12-month high of $7.48. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of 34.64 and a beta of 0.95.

Insider Buying and Selling at Genworth Financial

In other Genworth Financial news, CEO Thomas J. Mcinerney sold 150,000 shares of the company’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 completion of the sale, the chief executive officer now directly owns 4,532,954 shares in the company, valued at $31,186,723.52. This represents a 3.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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. Donald Smith & CO. Inc. raised its stake in shares of Genworth Financial by 14.5% during the first quarter. Donald Smith & CO. Inc. now owns 24,244,607 shares of the financial services provider’s stock valued at $155,893,000 after acquiring an additional 3,069,355 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Genworth Financial by 138.3% during the second quarter. Assenagon Asset Management S.A. now owns 4,233,541 shares of the financial services provider’s stock valued at $25,571,000 after acquiring an additional 2,456,816 shares during the last quarter. D. E. Shaw & Co. Inc. raised its stake in shares of Genworth Financial by 93.5% during the second 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 acquiring an additional 1,958,632 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of Genworth Financial by 3,395.1% during the second quarter. Cubist Systematic Strategies LLC now owns 1,780,098 shares of the financial services provider’s stock valued at $10,752,000 after acquiring an additional 1,729,167 shares during the last quarter. Finally, Millennium Management LLC raised its stake 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 during the last quarter. 81.85% of the stock is owned by institutional investors.

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.