Genworth Financial (NYSE:GNW) Hits New 1-Year High – What’s Next?

Genworth Financial, Inc. (NYSE:GNW) reached a new 52-week high during trading on Monday . The stock traded as high as $10.27 and last traded at $10.2350, with a volume of 85738 shares trading hands. The stock had previously closed at $10.16.

Wall Street Analyst Weigh In

GNW has been the subject of several research reports. 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. Zacks Research raised shares of Genworth Financial to a “hold” rating in a research report on Wednesday, May 27th. Weiss Ratings upgraded shares of Genworth Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 5th. Finally, Wall Street Zen upgraded shares of Genworth Financial from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Genworth Financial presently has a consensus rating of “Buy” and a consensus price target of $12.00.

Genworth Financial Price Performance

The stock has a market capitalization of $3.84 billion, a P/E ratio of 19.61 and a beta of 0.87. 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 company’s 50-day simple moving average is $9.53 and its 200-day simple moving average is $8.96.

Genworth Financial (NYSE:GNW) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.90 billion. Genworth Financial had a net margin of 2.87% and a return on equity of 1.06%. As a group, sell-side analysts expect that Genworth Financial, Inc. will post 1.1 EPS for the current fiscal year.

Insider Activity

In related news, CEO Thomas J. Mcinerney sold 100,000 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were 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. This trade represents a 1.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert P. Restrepo, Jr. sold 50,000 shares of Genworth Financial stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $9.12, for a total value of $456,000.00. Following the transaction, the director owned 92,655 shares of the company’s stock, valued at $845,013.60. The trade was a 35.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Genworth Financial

Hedge funds have recently made changes to their positions in the business. Headlands Technologies LLC acquired a new position in shares of Genworth Financial during the 2nd quarter worth approximately $44,000. Larson Financial Group LLC lifted its holdings 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 valued at $50,000 after purchasing an additional 5,543 shares during the last quarter. Atlas Wealth LLC bought a new position in Genworth Financial during the first quarter worth $51,000. Danske Bank A S bought a new position in Genworth Financial during the third quarter worth $60,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of 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 purchasing an additional 4,708 shares during the last quarter. 81.85% of the stock is owned by institutional investors and hedge funds.

About Genworth Financial

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.