Genworth Financial, Inc. (NYSE:GNW – Get Free Report) hit a new 52-week high on Thursday . The company traded as high as $9.65 and last traded at $9.5450, with a volume of 3206493 shares. The stock had previously closed at $9.47.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the stock. Zacks Research upgraded shares of Genworth Financial to a “hold” rating in a research report on Wednesday, May 27th. Keefe, Bruyette & Woods upped their price objective on Genworth Financial from $10.50 to $11.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Weiss Ratings upgraded Genworth Financial from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, June 16th. Finally, Wall Street Zen lowered shares of Genworth Financial from a “hold” rating to a “sell” rating in a research report on Sunday, May 17th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $11.00.
View Our Latest Analysis on Genworth Financial
Genworth Financial Price Performance
Genworth Financial (NYSE:GNW – Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.10. Genworth Financial had a return on equity of 1.73% and a net margin of 2.96%.The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.72 billion. On average, research analysts forecast that Genworth Financial, Inc. will post 0.44 earnings per share for the current year.
Insiders Place Their Bets
In other news, Director Robert P. Restrepo, Jr. sold 50,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director owned 92,655 shares of the company’s stock, valued at $845,013.60. This represents a 35.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Thomas J. Mcinerney sold 100,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer owned 5,368,883 shares of the company’s stock, valued at approximately $49,769,545.41. This trade represents a 1.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.80% of the company’s stock.
Hedge Funds Weigh In On Genworth Financial
A number of hedge funds have recently made changes to their positions in the stock. Captrust Financial Advisors raised its holdings in Genworth Financial by 8.3% during the 4th quarter. Captrust Financial Advisors now owns 14,770 shares of the financial services provider’s stock worth $133,000 after purchasing an additional 1,133 shares during the last quarter. Truist Financial Corp grew its position in Genworth Financial by 9.6% in the 4th quarter. Truist Financial Corp now owns 14,342 shares of the financial services provider’s stock valued at $130,000 after purchasing an additional 1,257 shares during the period. Abel Hall LLC increased its position in shares of Genworth Financial by 11.9% during the fourth quarter. Abel Hall LLC now owns 12,672 shares of the financial services provider’s stock worth $114,000 after acquiring an additional 1,348 shares in the last quarter. ProShare Advisors LLC increased its holdings in Genworth Financial by 1.8% during the 4th quarter. ProShare Advisors LLC now owns 78,983 shares of the financial services provider’s stock worth $713,000 after purchasing an additional 1,382 shares in the last quarter. Finally, Mackenzie Financial Corp grew its holdings in Genworth Financial by 1.8% during the third quarter. Mackenzie Financial Corp now owns 88,379 shares of the financial services provider’s stock worth $787,000 after buying an additional 1,523 shares in the last quarter. 81.85% of the stock is currently owned by institutional investors.
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.
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