Genworth Financial (NYSE:GNW) Rating Increased to Strong-Buy at Keefe, Bruyette & Woods

Genworth Financial (NYSE:GNW) was upgraded by research analysts at Keefe, Bruyette & Woods from a “moderate buy” rating to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other analysts also recently issued reports about the stock. Weiss Ratings upgraded shares of Genworth Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 5th. Wall Street Zen raised shares of Genworth Financial from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, Zacks Research upgraded shares of Genworth Financial to a “hold” rating in a report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Genworth Financial presently has a consensus rating of “Buy” and a consensus target price of $12.00.

Genworth Financial Stock Performance

Shares of GNW stock opened at $10.00 on Tuesday. The business has a 50 day moving average of $9.47 and a two-hundred day moving average of $8.93. Genworth Financial has a 52 week low of $7.84 and a 52 week high of $10.20. The company has a market cap of $3.78 billion, a P/E ratio of 19.23 and a beta of 0.87. 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 issued its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.29 EPS for the quarter, topping the consensus estimate of $0.28 by $0.01. Genworth Financial had a net margin of 2.87% and a return on equity of 1.06%. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.90 billion. As a group, analysts anticipate that Genworth Financial will post 1.1 EPS for the current year.

Insider Activity

In other Genworth Financial news, Director Robert P. Restrepo, Jr. sold 50,000 shares of the firm’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 sale, the director owned 92,655 shares in the company, valued at approximately $845,013.60. This trade represents a 35.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas J. Mcinerney sold 100,000 shares of Genworth Financial 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 transaction, the chief executive officer directly owned 5,368,883 shares of the company’s stock, valued at $49,769,545.41. This 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.

Institutional Investors Weigh In On Genworth Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Captrust Financial Advisors grew its position 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 acquiring an additional 1,133 shares during the last quarter. Truist Financial Corp raised its position in Genworth Financial by 9.6% in the fourth 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 last quarter. Abel Hall LLC boosted its stake 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 valued at $114,000 after purchasing an additional 1,348 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of Genworth Financial by 1.8% during the fourth quarter. ProShare Advisors LLC now owns 78,983 shares of the financial services provider’s stock valued at $713,000 after purchasing an additional 1,382 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in shares of Genworth Financial by 1.8% during the third quarter. Mackenzie Financial Corp now owns 88,379 shares of the financial services provider’s stock valued at $787,000 after purchasing an additional 1,523 shares in the last quarter. Institutional investors and hedge funds own 81.85% of the company’s stock.

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.