Genworth Financial (NYSE:GNW) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Genworth Financial (NYSE:GNW) from a hold rating to a buy rating in a research report report published on Tuesday morning.

Genworth Financial Stock Up 2.2 %

Genworth Financial stock opened at $7.37 on Tuesday. Genworth Financial has a twelve month low of $5.47 and a twelve month high of $7.41. The stock has a 50 day moving average of $6.87 and a two-hundred day moving average of $6.56. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $3.15 billion, a price-to-earnings ratio of 35.10 and a beta of 0.95.

Insiders Place Their Bets

In other Genworth Financial news, CEO Thomas J. Mcinerney sold 150,000 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $6.88, for a total transaction of $1,032,000.00. Following the completion of the sale, the chief executive officer now directly owns 4,532,954 shares of the company’s stock, valued at approximately $31,186,723.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Genworth Financial

Large investors have recently modified their holdings of the business. UniSuper Management Pty Ltd purchased a new position in shares of Genworth Financial during the 1st quarter worth approximately $562,000. Donald Smith & CO. Inc. increased its stake in Genworth Financial by 3.7% in the 3rd quarter. Donald Smith & CO. Inc. now owns 25,015,294 shares of the financial services provider’s stock valued at $171,355,000 after purchasing an additional 901,485 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Genworth Financial by 138.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 4,233,541 shares of the financial services provider’s stock valued at $25,571,000 after purchasing an additional 2,456,816 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Genworth Financial by 0.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 912,090 shares of the financial services provider’s stock valued at $6,248,000 after purchasing an additional 7,502 shares in the last quarter. Finally, River Road Asset Management LLC increased its stake in Genworth Financial by 0.8% in the 3rd quarter. River Road Asset Management LLC now owns 17,391,968 shares of the financial services provider’s stock valued at $119,135,000 after purchasing an additional 131,634 shares in the last quarter. 81.85% of the stock is owned by hedge funds and other institutional investors.

Genworth Financial Company Profile

Genworth Financial, Inc, together with its subsidiaries, provides mortgage and long-term care insurance products in the United States and internationally. It operates in three segments: Enact, Long-Term Care Insurance, and Life and Annuities. The Enact segment offers private mortgage insurance products primarily insuring prime-based, individually underwritten residential mortgage loans; and pool mortgage insurance products.