Genworth Financial (NYSE:GNW) Shares Up 5.5% - What's Next?

Key Points

• Genworth Financial's shares increased by 5.5%, trading at $7.75, after reaching a mid-day high of $7.42.
• Analysts have set new price targets for the stock, with Keefe, Bruyette & Woods raising their target to $9.50 and maintaining an "outperform" rating.
• The company reported a quarterly earnings miss, with earnings per share at $0.12, falling short of the expected $0.21.
• Institutional investors now own 81.85% of Genworth Financial, with several firms increasing their stakes significantly in the fourth quarter.

Genworth Financial, Inc. (NYSE:GNW - Get Free Report)'s share price rose 5.5% during trading on Friday . The stock traded as high as $7.42 and last traded at $7.75. Approximately 103,046 shares were traded during trading, a decline of 98% from the average daily volume of 6,134,237 shares. The stock had previously closed at $7.34.

Wall Street Analyst Weigh In

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

Genworth Financial Trading Down 1.9%

The business's 50 day moving average is $7.36 and its two-hundred day moving average is $7.06. 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 firm has a market capitalization of $3.30 billion, a P/E ratio of 15.91 and a beta of 1.06.

Genworth Financial (NYSE:GNW - Get Free Report) last released its quarterly earnings results 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). Genworth Financial had a net margin of 2.97% and a return on equity of 2.53%. The company had revenue of $1.76 billion during the quarter.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GNW. Byrne Asset Management LLC increased 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 purchasing an additional 3,115 shares during the period. Blueshift Asset Management LLC bought a new stake in shares of Genworth Financial during the first quarter valued at approximately $71,000. Abel Hall LLC bought a new stake in shares of Genworth Financial during the first quarter valued at approximately $71,000. Strs Ohio bought a new stake in shares of Genworth Financial during the first quarter valued at approximately $82,000. Finally, GAMMA Investing LLC grew its position in Genworth Financial by 29.5% in the second quarter. GAMMA Investing LLC now owns 11,770 shares of the financial services provider's stock valued at $92,000 after acquiring an additional 2,679 shares during the period. 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.