Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Genworth Financial (NYSE:GNW) Stock

Genworth Financial (NYSE:GNW) had its price objective upped by research analysts at Keefe, Bruyette & Woods from $8.00 to $8.50 in a report released on Tuesday,Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 22.13% from the company’s current price.

Genworth Financial Price Performance

Shares of NYSE:GNW opened at $6.96 on Tuesday. The company’s fifty day moving average is $6.78 and its two-hundred day moving average is $7.01. The company has a market cap of $2.88 billion, a P/E ratio of 10.24 and a beta of 0.99. Genworth Financial has a 12-month low of $5.87 and a 12-month high of $7.90. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.16.

Genworth Financial (NYSE:GNW) last announced its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.09). Genworth Financial had a return on equity of 2.96% and a net margin of 4.10%. The business had revenue of $1.76 billion during the quarter.

Institutional Trading of Genworth Financial

Institutional investors have recently made changes to their positions in the stock. Byrne Asset Management LLC boosted its stake in shares of Genworth Financial by 148.9% during the 4th quarter. Byrne Asset Management LLC now owns 4,480 shares of the financial services provider’s stock valued at $31,000 after buying an additional 2,680 shares during the period. Jones Financial Companies Lllp acquired a new position in Genworth Financial in the 4th quarter worth about $41,000. Abel Hall LLC acquired a new position in Genworth Financial in the 1st quarter worth about $71,000. Blueshift Asset Management LLC purchased a new stake in shares of Genworth Financial during the 1st quarter worth about $71,000. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Genworth Financial by 279.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 10,494 shares of the financial services provider’s stock valued at $73,000 after buying an additional 7,729 shares during the last quarter. 81.85% of the stock is currently owned by institutional investors and hedge funds.

Genworth Financial Company Profile

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.