Genworth Financial (NYSE:GNW) Stock Rating Upgraded by ValuEngine

Genworth Financial (NYSE:GNW) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Tuesday, ValuEngine reports.

Separately, BTIG Research reiterated a “hold” rating on shares of Genworth Financial in a research report on Tuesday, July 2nd.

Shares of NYSE:GNW traded up $0.61 during trading on Tuesday, hitting $4.46. The stock had a trading volume of 14,152,584 shares, compared to its average volume of 3,559,915. Genworth Financial has a 12-month low of $2.89 and a 12-month high of $5.02. The firm has a market capitalization of $2.14 billion, a PE ratio of 12.39 and a beta of 1.72. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.26. The business’s 50-day moving average price is $3.86.

Genworth Financial (NYSE:GNW) last announced its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.15. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.12 billion. Genworth Financial had a return on equity of 1.21% and a net margin of 1.87%. Genworth Financial’s quarterly revenue was down .1% on a year-over-year basis. During the same period last year, the business earned $0.40 earnings per share. Equities research analysts anticipate that Genworth Financial will post 1.12 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the stock. CWM LLC grew its holdings in Genworth Financial by 825.0% in the second quarter. CWM LLC now owns 9,250 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 8,250 shares during the period. Cleararc Capital Inc. acquired a new stake in Genworth Financial in the first quarter valued at approximately $49,000. Heritage Wealth Advisors grew its holdings in Genworth Financial by 61.0% in the first quarter. Heritage Wealth Advisors now owns 13,201 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 5,000 shares during the period. Qube Research & Technologies Ltd acquired a new stake in Genworth Financial in the second quarter valued at approximately $51,000. Finally, Park National Corp OH grew its holdings in Genworth Financial by 26.7% in the second quarter. Park National Corp OH now owns 19,000 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 4,000 shares during the period. Institutional investors own 65.67% of the company’s stock.

About Genworth Financial

Genworth Financial, Inc provides insurance and homeownership solutions in the United States and internationally. It operates through five segments: U.S. Mortgage Insurance, Canada Mortgage Insurance, Australia Mortgage Insurance, U.S. Life Insurance, and Runoff. The U.S. Mortgage Insurance segment offers mortgage insurance products primarily insuring prime-based, individually underwritten residential mortgage loans.

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