Genworth Financial (NYSE:GNW) Price Target Raised to $10.00 at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods has raised its target price for Genworth Financial from $9.50 to $10.00, indicating a potential upside of 15.17% from the stock's previous close.
• Several research firms have upgraded their ratings on Genworth Financial, contributing to an average rating of "Moderate Buy" among analysts.
• CEO Rohit Gupta sold 86,406 shares of Genworth Financial at an average price of $8.68, representing a 9.81% decrease in his ownership position.

Genworth Financial (NYSE:GNW - Get Free Report) had its target price increased by Keefe, Bruyette & Woods from $9.50 to $10.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' target price points to a potential upside of 15.17% from the stock's previous close.

A number of other research firms have also commented on GNW. Wall Street Zen upgraded shares of Genworth Financial from a "sell" rating to a "hold" rating in a report on Friday, October 3rd. Weiss Ratings restated a "hold (c+)" rating on shares of Genworth Financial in a report on Wednesday. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Genworth Financial currently has an average rating of "Moderate Buy" and an average target price of $10.00.

Genworth Financial Price Performance

Shares of NYSE GNW traded down $0.06 during mid-day trading on Thursday, reaching $8.68. 1,719,941 shares of the company were exchanged, compared to its average volume of 5,878,439. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.16. The company's 50 day moving average price is $8.59 and its 200 day moving average price is $7.64. Genworth Financial has a 52 week low of $5.99 and a 52 week high of $9.15. The stock has a market capitalization of $3.56 billion, a PE ratio of 19.30 and a beta of 0.99.

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

Insider Activity

In other news, CEO Rohit Gupta sold 86,406 shares of Genworth Financial stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $8.68, for a total value of $750,004.08. Following the sale, the chief executive officer directly owned 794,630 shares in the company, valued at approximately $6,897,388.40. This trade represents a 9.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is owned by insiders.

Institutional Trading of Genworth Financial

Large investors have recently bought and sold shares of the company. Xponance Inc. boosted its position in shares of Genworth Financial by 4.8% during 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 in the last quarter. Ethic Inc. boosted its stake in Genworth Financial by 15.1% during the second quarter. Ethic Inc. now owns 14,045 shares of the financial services provider's stock worth $110,000 after acquiring an additional 1,847 shares in the last quarter. GAMMA Investing LLC boosted its stake in Genworth Financial by 16.3% during the third quarter. GAMMA Investing LLC now owns 13,683 shares of the financial services provider's stock worth $122,000 after acquiring an additional 1,913 shares in the last quarter. Byrne Asset Management LLC boosted its stake in 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 worth $54,000 after acquiring an additional 3,115 shares in the last quarter. Finally, HighTower Advisors LLC boosted its position in shares of Genworth Financial by 20.0% in the 1st quarter. HighTower Advisors LLC now owns 21,111 shares of the financial services provider's stock worth $150,000 after purchasing an additional 3,521 shares in the last quarter. 81.85% of the stock is owned by 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.

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