Genworth Financial (NYSE:GNW) Downgraded by Wall Street Zen to Sell

Genworth Financial (NYSE:GNW) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Separately, Weiss Ratings upgraded Genworth Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 19th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, Genworth Financial has an average rating of “Buy” and an average target price of $10.00.

Genworth Financial Stock Performance

Shares of GNW opened at $8.44 on Friday. Genworth Financial has a one year low of $5.99 and a one year high of $9.28. The company has a market cap of $3.37 billion, a PE ratio of 15.92 and a beta of 1.01. The stock has a 50-day moving average of $8.73 and a 200-day moving average of $8.68. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.29 and a quick ratio of 0.29.

Genworth Financial (NYSE:GNW) last posted its quarterly earnings results on Monday, February 23rd. The financial services provider reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.14). Genworth Financial had a return on equity of 1.48% and a net margin of 3.05%.The firm had revenue of $1.04 billion for the quarter.

Institutional Investors Weigh In On Genworth Financial

Institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada lifted its stake in Genworth Financial by 75.8% during the 1st quarter. Royal Bank of Canada now owns 118,058 shares of the financial services provider’s stock valued at $837,000 after acquiring an additional 50,911 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Genworth Financial by 2.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 252,152 shares of the financial services provider’s stock valued at $1,788,000 after purchasing an additional 7,106 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Genworth Financial by 4.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,184,144 shares of the financial services provider’s stock valued at $8,396,000 after purchasing an additional 55,071 shares during the last quarter. Strs Ohio bought a new position in shares of Genworth Financial during the first quarter valued at about $82,000. Finally, CWM LLC boosted its holdings in Genworth Financial by 113.6% during the second quarter. CWM LLC now owns 12,788 shares of the financial services provider’s stock worth $99,000 after purchasing an additional 6,800 shares during the last quarter. Institutional investors own 81.85% of the company’s stock.

About Genworth Financial

Genworth Financial (NYSE: GNW) is a leading financial security company offering a broad range of insurance products. Based in Richmond, Virginia, Genworth provides individuals and families with solutions designed to protect against long-term care expenses, secure life insurance needs and support homeownership through private mortgage insurance. With operations spanning the United States, Canada and Australia, the company serves both retail and institutional clients through a diversified portfolio of risk management services.

The company’s Private Mortgage Insurance (PMI) segment offers coverage to lenders and consumers in the US, Canada and Australia, enabling homebuyers to purchase properties with lower down payments.