Genworth Financial (NYSE:GNW) Reaches New 52-Week High - Still a Buy?

Genworth Financial, Inc. (NYSE:GNW - Get Free Report) shares hit a new 52-week high on Thursday . The stock traded as high as $8.01 and last traded at $7.98, with a volume of 726679 shares traded. The stock had previously closed at $7.83.

Analysts Set New Price Targets

GNW has been the subject of a number of recent research reports. Wall Street Zen lowered Genworth Financial from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Keefe, Bruyette & Woods upgraded Genworth Financial from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $8.50 to $9.00 in a report on Wednesday, June 18th.

Genworth Financial Price Performance

The firm has a market cap of $3.22 billion, a price-to-earnings ratio of 15.53 and a beta of 1.06. 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 stock's fifty day moving average price is $7.16 and its 200-day moving average price is $6.99.

Genworth Financial (NYSE:GNW - Get Free Report) last posted its earnings results on Wednesday, April 30th. The financial services provider reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.09). The company had revenue of $1.76 billion during the quarter. Genworth Financial had a net margin of 2.97% and a return on equity of 2.53%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Jones Financial Companies Lllp acquired a new stake in shares of Genworth Financial in the 4th quarter valued at $41,000. Byrne Asset Management LLC boosted its stake in 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 acquiring an additional 3,115 shares in the last quarter. Blueshift Asset Management LLC acquired a new stake in shares of Genworth Financial during the first quarter worth about $71,000. Abel Hall LLC purchased a new stake in shares of Genworth Financial in the 1st quarter valued at about $71,000. Finally, Smartleaf Asset Management LLC grew its position in shares of Genworth Financial by 279.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 10,494 shares of the financial services provider's stock worth $73,000 after acquiring an additional 7,729 shares during the last quarter. Institutional investors and hedge funds 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.