Bullish indicating open at $55-$60, IPO prices at $37
Genworth Financial Inc. (NYSE:GNW), a $3.09 billion market cap insurance company currently trading at $7.44, announced Friday that it will temporarily suspend certain trading activities under its Retirement and Savings Plan as part of a transition in recordkeeping services. According to a statement based on a Securities and Exchange Commission filing, the company will move recordkeeping for the plan from Alight Solutions to Fidelity Investments beginning August 1, 2025. InvestingPro analysis shows the company maintains strong liquidity with a current ratio of 11.93, indicating robust financial stability during this transition period.
As a result, participants and beneficiaries in the Genworth Plan will not be able to change contribution rates, direct or diversify investments in their individual accounts, or request loans, withdrawals, or distributions during a blackout period. The blackout period is scheduled to start at 4:00 p.m. Eastern Time on July 25, 2025, and is expected to conclude during the week of August 24, 2025. With the company’s next earnings report due on July 30, 2025, investors can access comprehensive analysis and financial health metrics through InvestingPro’s detailed research reports, which are available for over 1,400 US stocks.
Genworth also notified its directors and executive officers that, in compliance with Section 306(a) of the Sarbanes-Oxley Act of 2002 and Section 104 of Regulation BTR, they will be prohibited from directly or indirectly purchasing, selling, or otherwise transferring any company common stock acquired in connection with their service during the blackout period.
A copy of the blackout notice sent to directors and executive officers was included as an exhibit in the SEC filing. The company stated that security holders or other interested parties may obtain information about the actual dates of the blackout period and related details by contacting Genworth Financial.
This information is based on a press release statement included in the company’s SEC filing.
In other recent news, Genworth Financial reported its first-quarter earnings for 2025, which revealed a shortfall in earnings per share (EPS) compared to analyst expectations. The company posted an EPS of $0.12, missing the forecasted $0.18. Despite this, Genworth’s revenue reached $1.79 billion. Enact Mortgage Insurance, a significant contributor to Genworth’s performance, showed growth with a 2% increase in primary insurance in force and contributed $137 million in adjusted operating income. The company continues its share repurchase program, having spent $55 million year-to-date. Additionally, Genworth plans to invest $45-50 million in CareScout services and anticipates launching a new CareScout insurance product in the latter half of the year. The company is also engaged in ongoing litigation with AXA, which could have financial implications. Furthermore, Genworth is proactively managing long-term care insurance risk through its multiyear rate action plan, aiming to maintain the self-sustainability of its legacy LTC business.
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