Genworth Financial (NYSE:GNW) Hits New 1-Year High - Here's What Happened

Key Points

• Genworth Financial shares hit a new 52-week high on Monday, reaching $10.20 before closing near $10.17, up modestly on the day.
• Analyst sentiment is mixed but leans cautious: Weiss Ratings downgraded the stock to hold, while Keefe, Bruyette & Woods raised its target to $12 and kept an outperform rating. The current consensus rating is Hold with a $12.00 target price.
• The company recently beat quarterly EPS expectations, reporting $0.28 versus the $0.18 estimate, while insiders have also been selling shares, including the CEO and a director in May.

Genworth Financial, Inc. (NYSE:GNW - Get Free Report)'s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $10.20 and last traded at $10.1650, with a volume of 159495 shares traded. The stock had previously closed at $10.09.

Analyst Upgrades and Downgrades

GNW has been the topic of several research reports. Weiss Ratings lowered Genworth Financial from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday. Keefe, Bruyette & Woods raised their target price on shares of Genworth Financial from $11.00 to $12.00 and gave the stock an "outperform" rating in a research report on Monday, July 13th. Wall Street Zen raised shares of Genworth Financial from a "sell" rating to a "hold" rating in a research report on Sunday, July 12th. Finally, Zacks Research raised shares of Genworth Financial to a "hold" rating in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $12.00.

Genworth Financial Stock Up 0.1%

The company has a market capitalization of $3.87 billion, a price-to-earnings ratio of 19.45 and a beta of 0.85. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.15. The firm's 50 day simple moving average is $9.14 and its 200-day simple moving average is $8.78.

Genworth Financial (NYSE:GNW - Get Free Report) last released its earnings results on Tuesday, May 5th. The financial services provider reported $0.28 EPS for the quarter, topping the consensus estimate of $0.18 by $0.10. The company had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.72 billion. Genworth Financial had a net margin of 2.96% and a return on equity of 1.73%. On average, sell-side analysts anticipate that Genworth Financial, Inc. will post 1.1 EPS for the current fiscal year.

Insider Activity

In other Genworth Financial news, Director Robert P. Restrepo, Jr. sold 50,000 shares of Genworth Financial 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 sale, the director owned 92,655 shares of the company's stock, valued at approximately $845,013.60. The trade was a 35.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas J. Mcinerney sold 100,000 shares of the business's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $9.27, for a total value of $927,000.00. Following the transaction, the chief executive officer owned 5,368,883 shares in the company, valued at $49,769,545.41. The trade was a 1.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.80% of the company's stock.

Institutional Trading of Genworth Financial

Several hedge funds have recently modified their holdings of GNW. Headlands Technologies LLC acquired a new position in Genworth Financial during the second quarter worth $44,000. Larson Financial Group LLC raised its position in Genworth Financial by 12,597.7% in the third quarter. Larson Financial Group LLC now owns 5,587 shares of the financial services provider's stock worth $50,000 after acquiring an additional 5,543 shares in the last quarter. Atlas Wealth LLC acquired a new stake in Genworth Financial in the first quarter valued at $51,000. Danske Bank A S purchased a new stake in shares of Genworth Financial during the 3rd quarter worth $60,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Genworth Financial by 140.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,063 shares of the financial services provider's stock worth $63,000 after purchasing an additional 4,708 shares in the last quarter. 81.85% of the stock is owned by institutional investors and hedge funds.

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.

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