Genworth Financial (NYSE:GNW) Lowered to Hold Rating by StockNews.com

StockNews.com cut shares of Genworth Financial (NYSE:GNW) from a buy rating to a hold rating in a research note published on Wednesday morning.

Genworth Financial Price Performance

NYSE GNW opened at $7.77 on Wednesday. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of 36.98 and a beta of 0.95. Genworth Financial has a 12 month low of $5.67 and a 12 month high of $7.77. The company’s 50 day moving average is $7.00 and its two-hundred day moving average is $6.63. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.17.

Insider Buying and Selling at Genworth Financial

In other news, CEO Thomas J. Mcinerney sold 150,000 shares of Genworth Financial stock in a transaction that occurred on 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 sale, the chief executive officer now owns 4,532,954 shares in the company, valued at $31,186,723.52. This trade 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 the SEC website. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GNW. Assenagon Asset Management S.A. increased its position in Genworth Financial by 138.3% in the second quarter. Assenagon Asset Management S.A. now owns 4,233,541 shares of the financial services provider’s stock worth $25,571,000 after purchasing an additional 2,456,816 shares during the last quarter. D. E. Shaw & Co. Inc. raised its position in 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 purchasing an additional 1,958,632 shares during the period. Cubist Systematic Strategies LLC lifted its position in Genworth Financial by 3,395.1% in the second quarter. Cubist Systematic Strategies LLC now owns 1,780,098 shares of the financial services provider’s stock worth $10,752,000 after buying an additional 1,729,167 shares during the last quarter. Repertoire Partners LP bought a new position in Genworth Financial during the third quarter valued at $6,850,000. Finally, Whitefort Capital Management LP boosted its stake in shares of Genworth Financial by 49.6% during the 3rd quarter. Whitefort Capital Management LP now owns 2,986,960 shares of the financial services provider’s stock worth $20,461,000 after purchasing an additional 990,000 shares during the period. Hedge funds and other institutional investors own 81.85% of the company’s stock.

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.