Genworth Financial (NYSE:GNW) Announces Earnings Results

Genworth Financial (NYSE:GNW) issued its quarterly earnings data on Tuesday. The financial services provider reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.10, FiscalAI reports. Genworth Financial had a return on equity of 1.48% and a net margin of 3.05%.The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.48 billion.

Genworth Financial Stock Performance

Shares of GNW traded up $0.01 during mid-day trading on Tuesday, hitting $8.88. The stock had a trading volume of 3,244,747 shares, compared to its average volume of 3,496,462. The company has a market cap of $3.44 billion, a PE ratio of 16.75 and a beta of 0.89. The company’s fifty day simple moving average is $8.46 and its two-hundred day simple moving average is $8.61. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.15. Genworth Financial has a fifty-two week low of $6.63 and a fifty-two week high of $9.28.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Captrust Financial Advisors boosted its holdings in shares of Genworth Financial by 8.3% in the 4th quarter. Captrust Financial Advisors now owns 14,770 shares of the financial services provider’s stock valued at $133,000 after buying an additional 1,133 shares during the period. NewEdge Advisors LLC boosted its position in Genworth Financial by 2,175.3% during the 2nd quarter. NewEdge Advisors LLC now owns 16,314 shares of the financial services provider’s stock valued at $127,000 after purchasing an additional 15,597 shares during the period. Jain Global LLC acquired a new position in Genworth Financial during the 4th quarter valued at approximately $118,000. Brooklyn Investment Group acquired a new position in Genworth Financial during the 4th quarter valued at approximately $115,000. Finally, Abel Hall LLC boosted its stake in Genworth Financial by 11.9% during the 4th quarter. Abel Hall LLC now owns 12,672 shares of the financial services provider’s stock valued at $114,000 after purchasing an additional 1,348 shares during the period. 81.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GNW has been the subject of several recent analyst reports. Wall Street Zen lowered shares of Genworth Financial from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Weiss Ratings raised shares of Genworth Financial from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, April 29th. Finally, Keefe, Bruyette & Woods reissued a “moderate buy” rating and set a $10.50 price objective on shares of Genworth Financial in a report on Thursday, March 26th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $10.50.

About Genworth Financial

Genworth Financial (NYSE: GNW) is a leading financial security company offering a broad range of insurance products. Based in Richmond, Virginia, Genworth provides individuals and families with solutions designed to protect against long-term care expenses, secure life insurance needs and support homeownership through private mortgage insurance. With operations spanning the United States, Canada and Australia, the company serves both retail and institutional clients through a diversified portfolio of risk management services.

The company’s Private Mortgage Insurance (PMI) segment offers coverage to lenders and consumers in the US, Canada and Australia, enabling homebuyers to purchase properties with lower down payments.