Genworth Financial Inc (GNW)

[Joe Stocks]

Most recent earnings call transcript;

https://seekingalpha.com/article/4444905-genworth-financial-inc-gnw-ceo-thomas-mcinerney-on-q2-2021-results-earnings-call-transcript

"Our strong performance over the past several quarters provides a solid foundation for us to write the next Genworth chapter. As our long-term shareholders know, Genworth's financial stability and flexibility have significantly improved over the past several years."

This has been a value trap. The stock is selling for where is was 6 years ago but yet the financials are so much better.

Our goal is to reduce holding company debt to a sustainable level of approximately one billion, creating more financial flexibility for Genworth to return capital to shareholders and make prudent investments in future growth. Since 2013, we have reduced holding company debt by a total of approximately 2.2 billion.

I think this is huge!
"We expect our majority ownership stake in Enact to generate a significant dividend stream in the future as we work to move our legacy LTE books to breakeven and build a profitable new LTC company. We have received approval from the North Carolina Department of Insurance to dividend 200 million of capital from [indiscernible] Enact Holdings in the fourth quarter of 2021.

Subject to market conditions, business performance other regulatory approvals and compliance with applicable GSE requirements. This increases our confidence in Enact issuing a 200 million dividend in the fourth quarter."