Genworth Financial (NYSE:GNW) Hits New 1-Year High – Still a Buy?

Genworth Financial, Inc. (NYSE:GNW) shares reached a new 52-week high during trading on Monday . The stock traded as high as $7.92 and last traded at $7.89, with a volume of 6986825 shares changing hands. The stock had previously closed at $7.77.

Wall Street Analysts Forecast Growth

GNW has been the topic of several analyst reports. Keefe, Bruyette & Woods upgraded Genworth Financial from a “market perform” rating to an “outperform” rating and raised their target price for the company from $8.50 to $9.00 in a research report on Wednesday, June 18th. Wall Street Zen cut Genworth Financial from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd.

Genworth Financial Trading Up 1.5%

The firm has a market capitalization of $3.27 billion, a P/E ratio of 15.78 and a beta of 1.03. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a 50 day moving average price of $6.95 and a two-hundred day moving average price of $6.96.

Genworth Financial (NYSE:GNW) last released its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.09). The company had revenue of $1.76 billion for the quarter. Genworth Financial had a return on equity of 2.53% and a net margin of 2.97%.

Institutional Investors Weigh In On Genworth Financial

Several large investors have recently modified their holdings of GNW. Jones Financial Companies Lllp bought a new stake in shares of Genworth Financial during the 4th quarter worth $41,000. Byrne Asset Management LLC boosted its position in shares of Genworth Financial by 69.5% in the first quarter. Byrne Asset Management LLC now owns 7,595 shares of the financial services provider’s stock worth $54,000 after buying an additional 3,115 shares during the period. Abel Hall LLC acquired a new stake in shares of Genworth Financial in the first quarter worth $71,000. Blueshift Asset Management LLC acquired a new stake in shares of Genworth Financial in the first quarter worth $71,000. Finally, Smartleaf Asset Management LLC boosted its position in shares of Genworth Financial by 279.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 10,494 shares of the financial services provider’s stock worth $73,000 after buying an additional 7,729 shares during the period. 81.85% of the stock is owned by institutional investors.

About Genworth Financial

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.