Genworth Financial (NYSE:GNW) Shares Gap Up - Here's What Happened

Genworth Financial, Inc. (NYSE:GNW - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $6.84, but opened at $7.09. Genworth Financial shares last traded at $7.67, with a volume of 3,504,864 shares.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods upgraded shares of Genworth Financial from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $8.50 to $9.00 in a research note on Wednesday. Wall Street Zen downgraded shares of Genworth Financial from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd.

Genworth Financial Trading Up 0.0%

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 $6.95 and its 200-day moving average price is $6.97. The stock has a market cap of $3.22 billion, a P/E ratio of 15.56 and a beta of 1.03.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Xponance Inc. raised its position in Genworth Financial by 4.8% in the first quarter. Xponance Inc. now owns 32,525 shares of the financial services provider's stock worth $231,000 after acquiring an additional 1,493 shares during the period. NDVR Inc. raised its position in Genworth Financial by 8.6% in the fourth quarter. NDVR Inc. now owns 24,329 shares of the financial services provider's stock worth $170,000 after acquiring an additional 1,922 shares during the period. Factorial Partners LLC raised its position in shares of Genworth Financial by 0.3% during the 4th quarter. Factorial Partners LLC now owns 622,000 shares of the financial services provider's stock valued at $4,348,000 after purchasing an additional 2,000 shares during the period. CIBC Asset Management Inc raised its position in shares of Genworth Financial by 4.9% during the 4th quarter. CIBC Asset Management Inc now owns 43,219 shares of the financial services provider's stock valued at $302,000 after purchasing an additional 2,003 shares during the period. Finally, HighTower Advisors LLC raised its position in shares of Genworth Financial by 14.0% during the 4th quarter. HighTower Advisors LLC now owns 17,590 shares of the financial services provider's stock valued at $123,000 after purchasing an additional 2,154 shares during the period. 81.85% of the stock is currently owned by institutional investors.

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.