Genworth Financial (NYSE:GNW) Reaches New 1-Year High - What's Next?

Key Points

• Genworth Financial's shares reached a new 52-week high of $8.29, closing at $8.22 with a trading volume of 477 shares.
• Wall Street analysts are mixed on GNW, with Keefe, Bruyette & Woods upgrading their price target from $9.00 to $9.50 while Wall Street Zen downgraded the stock from "hold" to "sell."
• The company reported quarterly earnings of $0.16 per share, significantly above analysts' expectations of $0.05, with a revenue of $1.80 billion.

Genworth Financial, Inc. (NYSE:GNW - Get Free Report)'s stock price reached a new 52-week high on Thursday . The stock traded as high as $8.29 and last traded at $8.22, with a volume of 477 shares traded. The stock had previously closed at $8.21.

Analyst Upgrades and Downgrades

GNW has been the topic of a number of research reports. Keefe, Bruyette & Woods increased their target price on shares of Genworth Financial from $9.00 to $9.50 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Wall Street Zen cut Genworth Financial from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd.

Genworth Financial Stock Up 0.5%

The firm has a market cap of $3.43 billion, a price-to-earnings ratio of 18.57 and a beta of 1.12. The firm's 50 day moving average price is $7.55 and its two-hundred day moving average price is $7.13. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.29 and a quick ratio of 0.29.

Genworth Financial (NYSE:GNW - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $0.16 EPS for the quarter, topping the consensus estimate of $0.05 by $0.11. Genworth Financial had a net margin of 2.61% and a return on equity of 1.91%. The business had revenue of $1.80 billion for the quarter.

Institutional Investors Weigh In On Genworth Financial

Several institutional investors and hedge funds have recently made changes to their positions in GNW. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Genworth Financial by 4.1% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 106,408 shares of the financial services provider's stock worth $828,000 after purchasing an additional 4,216 shares during the period. Police & Firemen s Retirement System of New Jersey boosted its stake in shares of Genworth Financial by 4.1% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 95,933 shares of the financial services provider's stock worth $746,000 after acquiring an additional 3,736 shares in the last quarter. Vise Technologies Inc. acquired a new stake in shares of Genworth Financial in the second quarter valued at about $109,000. Haven Private LLC acquired a new position in Genworth Financial in the 2nd quarter valued at approximately $88,000. Finally, Y Intercept Hong Kong Ltd lifted its stake in Genworth Financial by 765.3% during the second quarter. Y Intercept Hong Kong Ltd now owns 344,112 shares of the financial services provider's stock worth $2,677,000 after purchasing an additional 304,344 shares during the period. 81.85% of the stock is owned by institutional investors and hedge funds.

Genworth Financial Company Profile

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.