Genworth Financial (NYSE:GNW) Hits 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) shares 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 changing hands. The stock had previously closed at $8.21.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GNW. Wall Street Zen cut shares of Genworth Financial from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Keefe, Bruyette & Woods boosted their price objective on shares of Genworth Financial from $9.00 to $9.50 and gave the company an "outperform" rating in a report on Wednesday, July 9th.

Genworth Financial Trading Down 0.8%

The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.29 and a current ratio of 0.29. The company's fifty day simple moving average is $7.51 and its 200-day simple moving average is $7.11. The company has a market capitalization of $3.34 billion, a P/E ratio of 18.14 and a beta of 1.12.

Genworth Financial (NYSE:GNW - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates 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.

Hedge Funds Weigh In On Genworth Financial

Several hedge funds and other institutional investors have recently modified their holdings of GNW. Byrne Asset Management LLC raised its position in Genworth Financial by 69.5% during the 1st quarter. Byrne Asset Management LLC now owns 7,595 shares of the financial services provider's stock worth $54,000 after buying an additional 3,115 shares during the last quarter. Blueshift Asset Management LLC acquired a new stake in shares of Genworth Financial during the 1st quarter worth approximately $71,000. Abel Hall LLC acquired a new stake in shares of Genworth Financial during the 1st quarter worth approximately $71,000. Haven Private LLC acquired a new stake in shares of Genworth Financial during the 2nd quarter worth approximately $88,000. Finally, Strs Ohio acquired a new stake in shares of Genworth Financial during the 1st quarter worth approximately $82,000. 81.85% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.