Genworth Financial (NYSE:GNW) Raised to Outperform at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of Genworth Financial (NYSE:GNW - Free Report) from a market perform rating to an outperform rating in a report issued on Wednesday morning, MarketBeat reports. Keefe, Bruyette & Woods currently has $9.00 price objective on the financial services provider's stock, up from their prior price objective of $8.50.

Separately, Wall Street Zen cut Genworth Financial from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd.

Genworth Financial Price Performance

NYSE:GNW traded up $0.00 on Wednesday, reaching $7.78. 12,478,721 shares of the company's stock traded hands, compared to its average volume of 4,445,718. 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 stock has a 50-day simple moving average of $6.95 and a 200-day simple moving average of $6.97. The firm has a market cap of $3.22 billion, a PE ratio of 15.56 and a beta of 1.03. Genworth Financial has a 12 month low of $5.95 and a 12 month high of $7.90.

Genworth Financial (NYSE:GNW - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.21 by ($0.09). The business 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 Investors Weigh In On Genworth Financial

Hedge funds have recently made changes to their positions in the company. Jones Financial Companies Lllp purchased a new stake in shares of Genworth Financial in the fourth quarter worth about $41,000. Byrne Asset Management LLC lifted its position in shares of 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 worth $54,000 after buying an additional 3,115 shares in the last quarter. Abel Hall LLC purchased a new stake in shares of Genworth Financial in the first quarter worth about $71,000. Blueshift Asset Management LLC purchased a new stake in shares of Genworth Financial in the first quarter worth about $71,000. Finally, Smartleaf Asset Management LLC lifted its position in shares of Genworth Financial by 279.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 10,494 shares of the financial services provider's stock worth $73,000 after buying an additional 7,729 shares in the last quarter. 81.85% of the stock is currently owned by hedge funds and other 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.