Genworth Financial (NYSE:GNW) Hits New 52-Week High - What's Next?

Key Points

• Genworth Financial reached a new 52-week high of $8.52, closing at $8.46 with a trading volume exceeding 5 million shares.
• Analyst ratings for the stock have been mixed, with Keefe, Bruyette & Woods raising the price target to $9.50 while Wall Street Zen downgraded it from 'hold' to 'sell.'
• Genworth Financial reported $0.16 earnings per share for its last quarter, significantly beating expectations of $0.05, with total revenue of $1.80 billion.

Genworth Financial, Inc. (NYSE:GNW - Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $8.52 and last traded at $8.46, with a volume of 5086307 shares. The stock had previously closed at $8.34.

Analyst Upgrades and Downgrades

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

Genworth Financial Stock Performance

The stock has a market cap of $3.47 billion, a P/E ratio of 18.79 and a beta of 1.12. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.29 and a quick ratio of 0.29. The firm's 50-day moving average price is $7.61 and its 200-day moving average price is $7.15.

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

Institutional Investors Weigh In On Genworth Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. Byrne Asset Management LLC raised its position in shares of Genworth Financial by 69.5% during the first quarter. Byrne Asset Management LLC now owns 7,595 shares of the financial services provider's stock valued at $54,000 after buying an additional 3,115 shares during the last quarter. Abel Hall LLC bought a new stake in Genworth Financial in the first quarter worth $71,000. Blueshift Asset Management LLC bought a new stake in Genworth Financial in the first quarter worth $71,000. Strs Ohio bought a new stake in Genworth Financial in the first quarter worth $82,000. Finally, Pennington Partners & CO. LLC bought a new stake in Genworth Financial in the fourth quarter worth $84,000. Institutional investors own 81.85% of the company's stock.

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.

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