Genworth Financial, Inc. (NYSE:GNW) Sees Large Increase in Short Interest

Genworth Financial, Inc. (NYSE:GNW) was the target of a significant growth in short interest in September. As of September 15th, there was short interest totalling 5,690,000 shares, a growth of 5.2% from the August 31st total of 5,410,000 shares. Based on an average daily trading volume, of 2,760,000 shares, the days-to-cover ratio is presently 2.1 days. Approximately 1.3% of the shares of the stock are short sold.

Insider Transactions at Genworth Financial

In other news, CEO Thomas J. Mcinerney sold 150,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $6.88, for a total value of $1,032,000.00. Following the transaction, the chief executive officer now directly owns 4,532,954 shares of the company’s stock, valued at $31,186,723.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.80% of the company’s stock.

Institutional Trading of Genworth Financial

Institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC acquired a new stake in Genworth Financial in the 1st quarter valued at approximately $25,000. EverSource Wealth Advisors LLC grew its stake in shares of Genworth Financial by 72.1% in the second quarter. EverSource Wealth Advisors LLC now owns 4,828 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 2,022 shares in the last quarter. SageView Advisory Group LLC acquired a new position in shares of Genworth Financial in the first quarter worth $30,000. Nomura Asset Management Co. Ltd. grew its stake in shares of Genworth Financial by 29.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 8,700 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Empowered Funds LLC acquired a new position in shares of Genworth Financial in the first quarter worth $67,000. Institutional investors and hedge funds own 81.85% of the company’s stock.

Genworth Financial Stock Down 0.9 %

GNW stock opened at $6.79 on Wednesday. The firm has a market cap of $2.97 billion, a PE ratio of 35.74 and a beta of 0.94. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.29 and a current ratio of 0.29. The firm’s 50 day moving average price is $6.70 and its 200-day moving average price is $6.40. Genworth Financial has a one year low of $5.32 and a one year high of $7.01.

Genworth Financial (NYSE:GNW) last posted its earnings results on Wednesday, July 31st. The financial services provider reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.09. Genworth Financial had a net margin of 0.43% and a return on equity of 0.25%. The firm had revenue of $1.77 billion during the quarter. During the same quarter last year, the business posted $0.29 EPS.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Genworth Financial from a “buy” rating to a “hold” rating in a research report on Friday, September 6th.

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.