Genworth Financial (NYSE:GNW) Sets New 52-Week High Following Analyst Upgrade

Shares of Genworth Financial, Inc. (NYSE:GNWGet Free Report) reached a new 52-week high during mid-day trading on Tuesday after Keefe, Bruyette & Woods raised their price target on the stock from $11.00 to $12.00. Keefe, Bruyette & Woods currently has an outperform rating on the stock. Genworth Financial traded as high as $9.74 and last traded at $9.7150, with a volume of 211556 shares. The stock had previously closed at $9.56.

GNW has been the subject of several other reports. Wall Street Zen upgraded Genworth Financial from a “sell” rating to a “hold” rating in a research note on Sunday. Weiss Ratings raised Genworth Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, June 30th. Finally, Zacks Research upgraded Genworth Financial to a “hold” rating in a report on Wednesday, May 27th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $12.00.

Check Out Our Latest Stock Analysis on GNW

Insider Buying and Selling at Genworth Financial

In other news, CEO Thomas J. Mcinerney sold 100,000 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $9.27, for a total transaction of $927,000.00. Following the completion of the sale, the chief executive officer directly owned 5,368,883 shares of the company’s stock, valued at $49,769,545.41. The trade was a 1.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert P. Restrepo, Jr. sold 50,000 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $9.12, for a total value of $456,000.00. Following the sale, the director owned 92,655 shares of the company’s stock, valued at approximately $845,013.60. The trade was a 35.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Genworth Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in GNW. Headlands Technologies LLC acquired a new position in shares of Genworth Financial in the 2nd quarter valued at about $44,000. Larson Financial Group LLC increased its position in Genworth Financial by 12,597.7% during the 3rd quarter. Larson Financial Group LLC now owns 5,587 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 5,543 shares in the last quarter. Atlas Wealth LLC acquired a new stake in Genworth Financial during the 1st quarter worth approximately $51,000. Danske Bank A S purchased a new position in Genworth Financial in the third quarter valued at approximately $60,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Genworth Financial by 140.3% in the second quarter. EverSource Wealth Advisors LLC now owns 8,063 shares of the financial services provider’s stock valued at $63,000 after buying an additional 4,708 shares during the period. 81.85% of the stock is currently owned by institutional investors and hedge funds.

Genworth Financial Trading Up 1.8%

The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of 18.70 and a beta of 0.85. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.29 and a quick ratio of 0.29. The business’s 50-day simple moving average is $9.07 and its two-hundred day simple moving average is $8.76.

Genworth Financial (NYSE:GNWGet Free Report) last issued its earnings results on Tuesday, May 5th. The financial services provider reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.10. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.72 billion. Genworth Financial had a net margin of 2.96% and a return on equity of 1.73%. On average, research analysts anticipate that Genworth Financial, Inc. will post 0.44 earnings per share for the current fiscal year.

About Genworth Financial

(Get Free Report)

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.

Further Reading

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