Genworth Financial (NYSE:GNW) Sets New 52-Week High – Should You Buy?

Genworth Financial, Inc. (NYSE:GNW)’s share price hit a new 52-week high on Thursday . The company traded as high as $8.01 and last traded at $7.98, with a volume of 726679 shares. The stock had previously closed at $7.83.

Wall Street Analyst Weigh In

Several research firms recently commented on GNW. Wall Street Zen cut shares of Genworth Financial from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Keefe, Bruyette & Woods upgraded shares of Genworth Financial from a “market perform” rating to an “outperform” rating and upped their target price for the company from $8.50 to $9.00 in a research note on Wednesday, June 18th.

Genworth Financial Trading Down 0.8%

The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of 15.53 and a beta of 1.06. The company’s 50 day moving average is $7.16 and its 200 day moving average is $6.99. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.29 and a current ratio of 0.29.

Genworth Financial (NYSE:GNW) last released its earnings results on Wednesday, April 30th. The financial services provider reported $0.12 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.09). The company had revenue of $1.76 billion for the quarter. Genworth Financial had a net margin of 2.97% and a return on equity of 2.53%.

Hedge Funds Weigh In On Genworth Financial

Large investors have recently bought and sold shares of the stock. Xponance Inc. raised its stake in shares of Genworth Financial by 9.5% in the 4th quarter. Xponance Inc. now owns 31,032 shares of the financial services provider’s stock valued at $217,000 after buying an additional 2,693 shares in the last quarter. Truist Financial Corp acquired a new position in shares of Genworth Financial in the 4th quarter valued at $105,000. Oppenheimer & Co. Inc. raised its stake in shares of Genworth Financial by 12.7% in the 4th quarter. Oppenheimer & Co. Inc. now owns 44,300 shares of the financial services provider’s stock valued at $310,000 after buying an additional 5,000 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Genworth Financial by 279.5% in 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 in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Genworth Financial by 494.7% in the 1st quarter. GAMMA Investing LLC now owns 64,455 shares of the financial services provider’s stock valued at $457,000 after buying an additional 53,617 shares in the last quarter. 81.85% of the stock is currently owned by institutional investors and hedge funds.

About Genworth Financial

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.