Genworth Financial (NYSE:GNW) Sees Unusually-High Trading Volume

Genworth Financial Inc (NYSE:GNW) saw an uptick in trading volume on Tuesday . 14,201,541 shares changed hands during trading, an increase of 299% from the previous session’s volume of 3,559,915 shares.The stock last traded at $4.46 and had previously closed at $3.85.

A number of brokerages recently commented on GNW. BTIG Research reaffirmed a “hold” rating on shares of Genworth Financial in a research report on Tuesday, July 2nd. ValuEngine downgraded Genworth Financial from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st.

The company has a debt-to-equity ratio of 0.26, a current ratio of 0.26 and a quick ratio of 0.26. The firm has a market capitalization of $2.14 billion, a P/E ratio of 12.39 and a beta of 1.72. The firm’s 50-day moving average is $3.86.

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

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in Genworth Financial by 1.3% during the 2nd quarter. BlackRock Inc. now owns 59,020,359 shares of the financial services provider’s stock valued at $218,967,000 after purchasing an additional 748,979 shares during the period. KLS Diversified Asset Management LP purchased a new position in Genworth Financial during the 2nd quarter valued at about $742,000. Maso Capital Partners Ltd boosted its position in Genworth Financial by 10.1% during the 2nd quarter. Maso Capital Partners Ltd now owns 2,947,500 shares of the financial services provider’s stock valued at $10,935,000 after acquiring an additional 270,700 shares in the last quarter. Commonwealth Bank of Australia boosted its position in Genworth Financial by 0.9% during the 2nd quarter. Commonwealth Bank of Australia now owns 2,608,300 shares of the financial services provider’s stock valued at $9,672,000 after acquiring an additional 21,986 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Genworth Financial by 1.7% during the 2nd quarter. Northern Trust Corp now owns 8,103,433 shares of the financial services provider’s stock valued at $30,064,000 after acquiring an additional 138,031 shares in the last quarter. 65.67% of the stock is owned by institutional investors and hedge funds.

Genworth Financial Company Profile (NYSE:GNW)

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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