Genworth Financial (NYSE:GNW) Hits New 12-Month High - What's Next?

Key Points

• Genworth Financial reached a new 52-week high of $8.75 during trading, with significant trading volume of over 2.26 million shares.
• Analyst ratings for Genworth show mixed signals; Keefe, Bruyette & Woods upgraded the target price to $9.50, while Wall Street Zen downgraded it to "sell."
• CEO Rohit Gupta sold over 86,000 shares recently, marking a 9.81% decrease in his position, which may influence investor sentiment.

Genworth Financial, Inc. (NYSE:GNW - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $8.74 and last traded at $8.75, with a volume of 2266284 shares changing hands. The stock had previously closed at $8.55.

Analyst Ratings Changes

Several research analysts have issued reports on GNW shares. Keefe, Bruyette & Woods raised their price objective on shares of Genworth Financial from $9.00 to $9.50 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Wall Street Zen downgraded shares of Genworth Financial from a "hold" rating to a "sell" rating in a research report on Sunday, September 7th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Genworth Financial presently has a consensus rating of "Buy" and a consensus target price of $9.50.

Genworth Financial Price Performance

The company has a market cap of $3.51 billion, a price-to-earnings ratio of 19.00 and a beta of 0.94. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.16. The company's 50 day moving average price is $8.16 and its 200 day moving average price is $7.40.

Genworth Financial (NYSE:GNW - Get Free Report) last released its earnings results 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 company had revenue of $1.80 billion during the quarter.

Insider Activity at Genworth Financial

In other news, CEO Rohit Gupta sold 86,406 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $8.68, for a total value of $750,004.08. Following the completion of the transaction, the chief executive officer owned 794,630 shares in the company, valued at $6,897,388.40. This trade represents a 9.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.80% of the company's stock.

Institutional Trading of Genworth Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Xponance Inc. lifted its stake in shares of Genworth Financial by 4.8% in the first quarter. Xponance Inc. now owns 32,525 shares of the financial services provider's stock valued at $231,000 after purchasing an additional 1,493 shares during the period. Ethic Inc. lifted its stake in shares of Genworth Financial by 15.1% in the second quarter. Ethic Inc. now owns 14,045 shares of the financial services provider's stock valued at $110,000 after purchasing an additional 1,847 shares during the period. Forum Financial Management LP lifted its stake in shares of Genworth Financial by 12.6% in the fourth quarter. Forum Financial Management LP now owns 23,131 shares of the financial services provider's stock valued at $162,000 after purchasing an additional 2,584 shares during the period. GAMMA Investing LLC lifted its stake in shares of Genworth Financial by 29.5% in the second quarter. GAMMA Investing LLC now owns 11,770 shares of the financial services provider's stock valued at $92,000 after purchasing an additional 2,679 shares during the period. Finally, Byrne Asset Management LLC lifted its stake in shares of Genworth Financial by 69.5% in the first quarter. Byrne Asset Management LLC now owns 7,595 shares of the financial services provider's stock valued at $54,000 after purchasing an additional 3,115 shares during the period. Institutional investors and hedge funds own 81.85% of the company's stock.

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.