Genworth Financial (NYSE:GNW) Downgraded to “Sell” at ValuEngine

ValuEngine cut shares of Genworth Financial (NYSE:GNW) from a hold rating to a sell rating in a research report released on Thursday, ValuEngine reports.

Separately, BTIG Research reissued a hold rating on shares of Genworth Financial in a report on Tuesday, July 2nd.

NYSE:GNW traded up $0.03 during midday trading on Thursday, reaching $3.94. The stock had a trading volume of 2,696,668 shares, compared to its average volume of 3,553,756. The business’s fifty day simple moving average is $3.72. Genworth Financial has a 12-month low of $2.89 and a 12-month high of $5.02. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.27. The stock has a market cap of $2.03 billion, a PE ratio of 10.94 and a beta of 1.78.

Genworth Financial (NYSE:GNW) last released its earnings results on Tuesday, July 30th. The financial services provider reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.15. Genworth Financial had a return on equity of 1.20% and a net margin of 2.12%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.12 billion. During the same quarter last year, the company earned $0.40 earnings per share. Genworth Financial’s quarterly revenue was down .1% compared to the same quarter last year. As a group, sell-side analysts expect that Genworth Financial will post 0.97 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in GNW. Norges Bank acquired a new stake in Genworth Financial in the fourth quarter valued at $32,764,000. First Manhattan Co. raised its stake in shares of Genworth Financial by 90.2% during the 1st quarter. First Manhattan Co. now owns 8,645,207 shares of the financial services provider’s stock worth $33,111,000 after buying an additional 4,100,602 shares during the last quarter. Alpine Associates Management Inc. acquired a new position in shares of Genworth Financial during the 1st quarter worth $6,972,000. CNH Partners LLC raised its stake in shares of Genworth Financial by 13.6% during the 1st quarter. CNH Partners LLC now owns 11,462,117 shares of the financial services provider’s stock worth $43,900,000 after buying an additional 1,371,039 shares during the last quarter. Finally, Nordea Investment Management AB acquired a new position in shares of Genworth Financial during the 1st quarter worth $4,426,000. 65.99% of the stock is owned by institutional investors.

Genworth Financial Company Profile

Genworth Financial, Inc provides insurance and homeownership solutions in the United States and internationally. It operates through five segments: U.S. Mortgage Insurance, Canada Mortgage Insurance, Australia Mortgage Insurance, U.S. Life Insurance, and Runoff. The U.S. Mortgage Insurance segment offers mortgage insurance products primarily insuring prime-based, individually underwritten residential mortgage loans.

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