Genworth Financial (NYSE:GNW) Stock Price Breaks Above Two Hundred Day Moving Average – Here’s Why

Genworth Financial, Inc. (NYSE:GNW)’s share price passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $9.25 and traded as high as $9.49. Genworth Financial shares last traded at $9.4250, with a volume of 3,206,533 shares changing hands.

Analyst Ratings Changes

GNW has been the subject of several research analyst reports. Weiss Ratings raised Genworth Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, September 2nd. Keefe, Bruyette & Woods dropped their price target on shares of Genworth Financial from $12.00 to $11.50 and set an “outperform” rating on the stock in a research note on Wednesday, September 16th. Finally, Wall Street Zen raised shares of Genworth Financial from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Genworth Financial has an average rating of “Moderate Buy” and an average price target of $11.50.

Genworth Financial Price Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a market capitalization of $3.56 billion, a PE ratio of 18.13 and a beta of 0.85. The stock’s 50 day moving average is $10.00 and its two-hundred day moving average is $9.25.

Genworth Financial (NYSE:GNW) last posted its quarterly earnings data 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 return on equity of 1.06% and a net margin of 2.87%.The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.90 billion. On average, equities analysts anticipate that Genworth Financial, Inc. will post 1.11 EPS for the current fiscal year.

Insider Activity at Genworth Financial

In other Genworth Financial news, CEO Thomas J. Mcinerney sold 100,000 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $10.53, for a total value of $1,053,000.00. Following the transaction, the chief executive officer owned 5,068,883 shares in the company, valued at approximately $53,375,337.99. This trade represents a 1.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Melissa Hagerman sold 14,708 shares of Genworth Financial stock in a transaction on Monday, August 24th. The stock was sold at an average price of $9.91, for a total transaction of $145,756.28. Following the sale, the executive vice president directly owned 192,539 shares in the company, valued at approximately $1,908,061.49. This trade represents a 7.10% decrease in their position. The SEC filing for this sale provides additional information. 1.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Genworth Financial

A number of hedge funds have recently modified their holdings of GNW. Donald Smith & CO. Inc. acquired a new position in Genworth Financial during the second quarter worth about $212,906,000. Norges Bank acquired a new stake in Genworth Financial in the 4th quarter valued at about $45,912,000. Bank of New York Mellon Corp purchased a new position in Genworth Financial in the 2nd quarter worth approximately $22,798,000. Bank of America Corp DE lifted its stake in Genworth Financial by 133.2% in the 1st quarter. Bank of America Corp DE now owns 2,158,625 shares of the financial services provider’s stock worth $17,528,000 after purchasing an additional 1,232,931 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Genworth Financial by 1.9% in the 1st quarter. Principal Financial Group Inc. now owns 1,940,885 shares of the financial services provider’s stock worth $15,760,000 after purchasing an additional 37,098 shares in the last quarter. 81.85% of the stock is currently owned by institutional investors and hedge funds.

Genworth Financial Company Profile

Genworth Financial, Inc is an insurance holding company headquartered in Richmond, Virginia. The company’s primary business is U.S. mortgage insurance, which helps lenders manage credit risk and enables eligible homebuyers to purchase homes with down payments below traditional requirements. This business operates through Enact Holdings, Inc, a publicly traded subsidiary in which Genworth remains a significant shareholder.

Genworth also manages a substantial portfolio of long-term care insurance policies, providing benefits that may help cover nursing care, assisted living, home health care and other extended-care services.