Genworth Financial (NYSE:GNW) Issues Quarterly Earnings Results

Genworth Financial (NYSE:GNW) announced its quarterly earnings data on Wednesday. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.01), Zacks reports. Genworth Financial had a return on equity of 1.93% and a net margin of 0.76%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.88 billion.

Genworth Financial Trading Down 2.3%

Shares of NYSE GNW traded down $0.20 during trading hours on Friday, reaching $8.71. The stock had a trading volume of 6,832,784 shares, compared to its average volume of 3,366,682. Genworth Financial has a 52-week low of $7.84 and a 52-week high of $10.69. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of 66.97 and a beta of 0.87. The business’s fifty day moving average price is $9.53 and its two-hundred day moving average price is $9.12. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.15.

Insider Buying and Selling at Genworth Financial

In other Genworth Financial news, CEO Thomas McInerney sold 100,000 shares of Genworth Financial stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $10.53, for a total transaction of $1,053,000.00. Following the completion of the sale, the chief executive officer directly owned 5,068,883 shares of the company’s stock, valued at $53,375,337.99. The trade was a 1.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Melissa Hagerman sold 14,708 shares of Genworth Financial stock in a transaction on Monday, August 24th. The shares were sold at an average price of $9.91, for a total value of $145,756.28. Following the sale, the executive vice president directly owned 192,539 shares of the company’s stock, valued at approximately $1,908,061.49. This trade represents a 7.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GNW shares. Wall Street Zen raised Genworth Financial from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Keefe, Bruyette & Woods cut shares of Genworth Financial from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $11.50 to $10.50 in a report on Friday, October 9th. Finally, Weiss Ratings raised shares of Genworth Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 21st. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Genworth Financial presently has a consensus rating of “Hold” and an average price target of $10.50.

Genworth Financial Company Profile

Genworth Financial, Inc is an insurance holding company headquartered in Richmond, Virginia. The company’s principal business is mortgage insurance, primarily through its majority-owned subsidiary, Enact Holdings, Inc Enact provides private mortgage insurance to lenders and mortgage investors, helping eligible borrowers obtain home loans with smaller down payments while reducing lenders’ exposure to borrower default.

Genworth also manages long-term care insurance businesses and legacy insurance obligations in the United States.