Genworth Financial (NYSE:GNW) Shares Gap Down – What’s Next?

Genworth Financial, Inc. (NYSE:GNW) shares gapped down prior to trading on Tuesday . The stock had previously closed at $10.60, but opened at $9.95. Genworth Financial shares last traded at $10.1950, with a volume of 1,006,763 shares.

Analysts Set New Price Targets

GNW has been the subject of several recent research reports. Keefe, Bruyette & Woods lowered their target price on shares of Genworth Financial from $12.00 to $11.50 and set an “outperform” rating for the company in a report on Wednesday. Wall Street Zen upgraded Genworth Financial from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Zacks Research raised Genworth Financial to a “hold” rating in a research report on Wednesday, May 27th. Finally, Weiss Ratings upgraded Genworth Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, September 2nd. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Genworth Financial has a consensus rating of “Moderate Buy” and an average target price of $11.50.

Genworth Financial Stock Up 0.8%

The company has a market cap of $3.81 billion, a P/E ratio of 19.41 and a beta of 0.85. The company’s 50-day moving average is $9.98 and its two-hundred day moving average is $9.19. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.29 and a quick ratio of 0.29.

Genworth Financial (NYSE:GNW) last released its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.01. Genworth Financial had a return on equity of 1.06% and a net margin of 2.87%.The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.90 billion. As a group, equities analysts predict that Genworth Financial, Inc. will post 1.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Thomas J. Mcinerney sold 100,000 shares of Genworth Financial stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $10.53, for a total value of $1,053,000.00. Following the completion of the sale, the chief executive officer directly owned 5,068,883 shares in the company, valued at approximately $53,375,337.99. This trade represents a 1.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Melissa Hagerman sold 14,708 shares of Genworth Financial stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $9.91, for a total value of $145,756.28. Following the completion of the sale, the executive vice president owned 192,539 shares of the company’s stock, valued at $1,908,061.49. The trade was a 7.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Genworth Financial

A number of institutional investors have recently made changes to their positions in GNW. Integrated Wealth Concepts LLC purchased a new position in shares of Genworth Financial during the second quarter valued at approximately $49,000. Atlas Wealth LLC purchased a new stake in Genworth Financial in the first quarter worth approximately $51,000. Rockefeller Capital Management L.P. boosted its holdings in Genworth Financial by 124.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 7,159 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 3,966 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Genworth Financial by 21.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 8,903 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 1,561 shares during the period. Finally, Nykredit A S bought a new stake in Genworth Financial in the 2nd quarter worth approximately $88,000. Hedge funds and other institutional investors own 81.85% of the company’s stock.

About Genworth Financial

Genworth Financial, Inc is an insurance holding company headquartered in Richmond, Virginia. The company’s primary business is U.S. mortgage insurance, which helps lenders manage credit risk and enables eligible homebuyers to purchase homes with down payments below traditional requirements. This business operates through Enact Holdings, Inc, a publicly traded subsidiary in which Genworth remains a significant shareholder.

Genworth also manages a substantial portfolio of long-term care insurance policies, providing benefits that may help cover nursing care, assisted living, home health care and other extended-care services.