Genworth Financial (NYSE:GNW) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Genworth Financial, Inc. (NYSE:GNW) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $8.70 and traded as high as $9.04. Genworth Financial shares last traded at $8.9550, with a volume of 8,070,019 shares changing hands.

Analyst Ratings Changes

Several equities analysts have recently commented on GNW shares. Keefe, Bruyette & Woods increased their target price on Genworth Financial from $10.50 to $11.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Wall Street Zen lowered shares of Genworth Financial from a “hold” rating to a “sell” rating in a research note on Sunday, May 17th. Zacks Research upgraded shares of Genworth Financial to a “hold” rating in a research note on Wednesday, May 27th. Finally, Weiss Ratings raised shares of Genworth Financial from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Genworth Financial presently has an average rating of “Hold” and a consensus price target of $11.00.

Genworth Financial Stock Up 0.1%

The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of 17.22 and a beta of 0.86. The stock has a 50 day moving average of $8.88 and a 200 day moving average of $8.70. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.15.

Genworth Financial (NYSE:GNW) last announced its quarterly earnings data 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 firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.72 billion. As a group, analysts expect that Genworth Financial, Inc. will post 0.44 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of Genworth Financial

A number of institutional investors and hedge funds have recently modified their holdings of GNW. Hudson Bay Capital Management LP grew its position in shares of Genworth Financial by 17.7% during the 3rd quarter. Hudson Bay Capital Management LP now owns 849,629 shares of the financial services provider’s stock valued at $7,562,000 after buying an additional 127,722 shares during the last quarter. American Century Companies Inc. raised its stake in Genworth Financial by 7.9% during the third quarter. American Century Companies Inc. now owns 9,567,534 shares of the financial services provider’s stock worth $85,151,000 after acquiring an additional 704,498 shares during the period. Arbiter Partners Capital Management LLC lifted its holdings in Genworth Financial by 40.7% in the third quarter. Arbiter Partners Capital Management LLC now owns 487,400 shares of the financial services provider’s stock worth $4,338,000 after acquiring an additional 141,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Genworth Financial by 1.0% in the third quarter. Dimensional Fund Advisors LP now owns 26,493,475 shares of the financial services provider’s stock worth $235,793,000 after acquiring an additional 270,062 shares during the last quarter. Finally, Jupiter Asset Management Ltd. bought a new position in Genworth Financial in the third quarter worth about $3,842,000. 81.85% of the stock is 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.