Genworth Financial, Inc. (NYSE:GNW) Sees Large Increase in Short Interest

Genworth Financial, Inc. (NYSE:GNW) was the recipient of a large growth in short interest in September. As of September 15th, there was short interest totalling 5,690,000 shares, a growth of 5.2% from the August 31st total of 5,410,000 shares. Currently, 1.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,760,000 shares, the short-interest ratio is currently 2.1 days.

Insider Activity

In other news, CEO Thomas J. Mcinerney sold 150,000 shares of the business’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 owns 4,532,954 shares of the company’s stock, valued at $31,186,723.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Genworth Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in Genworth Financial in the 4th quarter valued at about $23,292,000. Donald Smith & CO. Inc. raised its stake in shares of Genworth Financial by 14.5% in the 1st 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 period. Assenagon Asset Management S.A. boosted its position in shares of Genworth Financial by 138.3% during the 2nd 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 period. D. E. Shaw & Co. Inc. boosted its position in shares of Genworth Financial by 93.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 4,052,621 shares of the financial services provider’s stock worth $24,478,000 after purchasing an additional 1,958,632 shares during the period. Finally, Cubist Systematic Strategies LLC increased its holdings in Genworth Financial by 3,395.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,780,098 shares of the financial services provider’s stock valued at $10,752,000 after purchasing an additional 1,729,167 shares during the last quarter. Institutional investors and hedge funds own 81.85% of the company’s stock.

Genworth Financial Price Performance

Shares of NYSE GNW traded down $0.06 during mid-day trading on Tuesday, reaching $6.79. The company’s stock had a trading volume of 3,166,606 shares, compared to its average volume of 2,808,044. The stock has a market capitalization of $2.97 billion, a P/E ratio of 35.79 and a beta of 0.94. Genworth Financial has a 1-year low of $5.32 and a 1-year high of $7.01. The stock has a 50-day moving average of $6.70 and a two-hundred day moving average of $6.40. 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 released its earnings results on Wednesday, July 31st. The financial services provider reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.09. Genworth Financial had a net margin of 0.43% and a return on equity of 0.25%. The business had revenue of $1.77 billion for the quarter. During the same period last year, the business earned $0.29 earnings per share.

Analyst Ratings Changes

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

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.