Robert Restrepo, Jr. Sells 50,000 Shares of Genworth Financial (NYSE:GNW) Stock

Genworth Financial, Inc. (NYSE:GNW) Director Robert Restrepo, Jr. sold 50,000 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $9.12, for a total value of $456,000.00. Following the completion of the sale, the director owned 92,655 shares of the company’s stock, valued at $845,013.60. This represents a 35.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Genworth Financial Trading Down 1.9%

NYSE GNW opened at $8.85 on Thursday. The stock has a 50-day simple moving average of $8.70 and a 200 day simple moving average of $8.68. The company has a market capitalization of $3.39 billion, a PE ratio of 17.03 and a beta of 0.89. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.15. Genworth Financial, Inc. has a 12 month low of $6.72 and a 12 month high of $9.45.

Genworth Financial (NYSE:GNW) last released its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.10. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.72 billion. Genworth Financial had a return on equity of 1.73% and a net margin of 2.96%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GNW. Norges Bank acquired a new position in Genworth Financial in the fourth quarter valued at about $45,912,000. Gendell Jeffrey L grew its stake in Genworth Financial by 168.0% in the fourth quarter. Gendell Jeffrey L now owns 6,485,888 shares of the financial services provider’s stock valued at $58,568,000 after acquiring an additional 4,065,684 shares during the period. UBS Group AG grew its stake in Genworth Financial by 621.2% in the fourth quarter. UBS Group AG now owns 3,598,588 shares of the financial services provider’s stock valued at $32,495,000 after acquiring an additional 3,099,582 shares during the period. Invesco Ltd. grew its stake in Genworth Financial by 41.0% in the second quarter. Invesco Ltd. now owns 4,291,220 shares of the financial services provider’s stock valued at $33,386,000 after acquiring an additional 1,248,374 shares during the period. Finally, Bank of America Corp DE grew its stake in Genworth Financial by 133.2% in the first quarter. Bank of America Corp DE now owns 2,158,625 shares of the financial services provider’s stock valued at $17,528,000 after acquiring an additional 1,232,931 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 a number of recent analyst reports. Weiss Ratings upgraded Genworth Financial from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, April 29th. Keefe, Bruyette & Woods upped their price objective on Genworth Financial from $10.50 to $11.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Finally, Wall Street Zen cut Genworth Financial from a “hold” rating to a “sell” rating in a research note on Sunday, May 17th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Genworth Financial presently has an average rating of “Moderate Buy” and a consensus target price of $11.00.

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.