Keefe, Bruyette & Woods Issues Positive Forecast for Genworth Financial (NYSE:GNW) Stock Price

Genworth Financial (NYSE:GNW) had its price target hoisted by Keefe, Bruyette & Woods from $8.00 to $8.50 in a research note published on Tuesday,Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

Genworth Financial Stock Performance

Shares of GNW opened at $7.07 on Tuesday. The firm has a market cap of $2.93 billion, a price-to-earnings ratio of 10.40 and a beta of 0.99. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.16. The business’s 50 day moving average is $6.78 and its two-hundred day moving average is $7.01. Genworth Financial has a 52-week low of $5.87 and a 52-week high of $7.90.

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

Institutional Investors Weigh In On Genworth Financial

Institutional investors have recently modified their holdings of the stock. Xponance Inc. grew its stake in Genworth Financial by 9.5% in the fourth quarter. Xponance Inc. now owns 31,032 shares of the financial services provider’s stock worth $217,000 after purchasing an additional 2,693 shares in the last quarter. Barclays PLC lifted its holdings in Genworth Financial by 291.2% during the 3rd quarter. Barclays PLC now owns 744,853 shares of the financial services provider’s stock worth $5,103,000 after buying an additional 554,462 shares during the last quarter. EMC Capital Management lifted its holdings in Genworth Financial by 1,562.5% during the 4th quarter. EMC Capital Management now owns 37,771 shares of the financial services provider’s stock worth $264,000 after buying an additional 35,499 shares during the last quarter. New York State Teachers Retirement System grew its position in shares of Genworth Financial by 2.5% in the 4th quarter. New York State Teachers Retirement System now owns 550,940 shares of the financial services provider’s stock worth $3,851,000 after acquiring an additional 13,633 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Genworth Financial by 4.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 948,125 shares of the financial services provider’s stock valued at $6,627,000 after acquiring an additional 36,035 shares during the last quarter. Institutional investors and hedge funds own 81.85% of the company’s stock.

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.