Genworth Financial (NYSE:GNW) Releases Quarterly Earnings Results

by · The Cerbat Gem

Genworth Financial (NYSE:GNW – Get Free Report) 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.

Check Out Our Latest Research Report on Genworth Financial

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

(Get Free Report)

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.

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