Genworth Financial (NYSE:GNW) Reaches New 12-Month High - Here's Why

Key Points

• Genworth Financial's stock reached a new 52-week high of $8.12, with trading volumes spiking at 6.8 million shares.
• Analysts from Keefe, Bruyette & Woods raised their target price on Genworth shares from $9.00 to $9.50, while Wall Street Zen downgraded their rating from "hold" to "sell."
• Institutional investors and hedge funds control 81.85% of Genworth Financial's stock, with notable stake increases by firms like Donald Smith & CO. Inc. and American Century Companies Inc.

Genworth Financial, Inc. (NYSE:GNW - Get Free Report) shares hit a new 52-week high during trading on Monday . The company traded as high as $8.12 and last traded at $8.12, with a volume of 6806250 shares trading hands. The stock had previously closed at $8.00.

Analyst Ratings Changes

GNW has been the subject of a number of analyst reports. Keefe, Bruyette & Woods increased their price target on Genworth Financial from $9.00 to $9.50 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Wall Street Zen lowered Genworth Financial from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd.

Genworth Financial Stock Performance

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 has a 50-day moving average price of $7.42 and a 200-day moving average price of $7.08. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of 17.32 and a beta of 1.06.

Genworth Financial (NYSE:GNW - Get Free Report) last posted 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. Genworth Financial had a net margin of 2.61% and a return on equity of 1.92%. The business had revenue of $1.80 billion during the quarter.

Institutional Investors Weigh In On Genworth Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GNW. Byrne Asset Management LLC raised its holdings 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 purchasing an additional 3,115 shares in the last quarter. Abel Hall LLC bought a new stake in Genworth Financial during the first quarter worth approximately $71,000. Blueshift Asset Management LLC acquired a new position in Genworth Financial in the first quarter worth approximately $71,000. Strs Ohio acquired a new position in Genworth Financial in the first quarter worth approximately $82,000. Finally, Pennington Partners & CO. LLC acquired a new position in Genworth Financial in the fourth quarter worth approximately $84,000. Institutional investors 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.