Shares of Genworth Financial, Inc. (NYSE:GNW – Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $10.69 and last traded at $10.6050, with a volume of 317444 shares. The stock had previously closed at $10.13.
Analysts Set New Price Targets
Several research firms have recently commented on GNW. Keefe, Bruyette & Woods raised shares of Genworth Financial from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. Weiss Ratings raised Genworth Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday. Wall Street Zen upgraded Genworth Financial from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Zacks Research raised Genworth Financial to a “hold” rating in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Genworth Financial presently has an average rating of “Buy” and an average target price of $12.00.
Read Our Latest Stock Report on Genworth Financial
Genworth Financial Stock Down 0.6%
Genworth Financial (NYSE:GNW – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. Genworth Financial had a return on equity of 1.06% and a net margin of 2.87%.The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.90 billion. Equities analysts forecast that Genworth Financial, Inc. will post 1.1 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Genworth Financial news, EVP Melissa Hagerman sold 14,708 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $9.91, for a total value of $145,756.28. Following the transaction, the executive vice president owned 192,539 shares of the company’s stock, valued at approximately $1,908,061.49. This represents a 7.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.80% of the company’s stock.
Institutional Trading of Genworth Financial
A number of hedge funds have recently modified their holdings of the company. Headlands Technologies LLC acquired a new position in Genworth Financial during the second quarter valued at approximately $44,000. Larson Financial Group LLC raised its holdings in Genworth Financial by 12,597.7% in the third 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 during the period. Atlas Wealth LLC acquired a new stake in Genworth Financial in the first quarter worth $51,000. Danske Bank A S bought a new position in shares of Genworth Financial during the third quarter worth $60,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Genworth Financial by 140.3% during the second quarter. EverSource Wealth Advisors LLC now owns 8,063 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 4,708 shares in the last quarter. 81.85% of the stock is currently owned by institutional investors and hedge funds.
Genworth Financial Company Profile
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.
Featured Articles
- Five stocks we like better than Genworth Financial
- Revolution Medicines Got Its Breakthrough—What Moves It Next?
- Retail Earnings Just Exposed a Bigger Divide in the U.S. Consumer Economy
- FB Financial’s Southern Expansion and Buybacks Drive Analyst Optimism
- AST SpaceMobile Stock Soared 12%—This Was the Catalyst
Receive News & Ratings for Genworth Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genworth Financial and related companies with MarketBeat.com's FREE daily email newsletter.
