Genworth Financial's (GNW) "Outperform" Rating Reaffirmed at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods reaffirmed an "Outperform" rating on Genworth with a $10.50 price target, implying roughly a 27% upside from the stock's current level.
• Genworth missed the most recent quarter with EPS of $0.02 versus a $0.16 consensus and revenue of $1.04 billion; the stock trades around $8.25 (12‑month range $5.99–$9.28) with a PE of 15.56.
• Institutional investors own about 81.9% of the shares, with several funds (RBC, UBS, Mirae, Legal & General) increasing stakes, while analyst views remain mixed and MarketBeat shows an average rating of "Moderate Buy."

Genworth Financial (NYSE:GNW - Get Free Report)'s stock had its "outperform" rating restated by analysts at Keefe, Bruyette & Woods in a research note issued to investors on Thursday,Benzinga reports. They presently have a $10.50 price objective on the financial services provider's stock. Keefe, Bruyette & Woods' price target suggests a potential upside of 27.35% from the company's current price.

GNW has been the subject of a number of other research reports. Weiss Ratings downgraded shares of Genworth Financial from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, March 5th. Wall Street Zen downgraded shares of Genworth Financial from a "hold" rating to a "sell" rating in a research note on Saturday, February 28th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Genworth Financial currently has an average rating of "Moderate Buy" and an average target price of $10.50.

Genworth Financial Stock Up 1.0%

NYSE:GNW traded up $0.09 during trading hours on Thursday, reaching $8.25. 1,373,190 shares of the stock were exchanged, compared to its average volume of 3,774,496. Genworth Financial has a twelve month low of $5.99 and a twelve month high of $9.28. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a 50 day moving average of $8.45 and a 200 day moving average of $8.65. The stock has a market cap of $3.20 billion, a PE ratio of 15.56 and a beta of 1.00.

Genworth Financial (NYSE:GNW - Get Free Report) last issued its quarterly earnings results on Monday, February 23rd. The financial services provider reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.14). The business had revenue of $1.04 billion for the quarter. Genworth Financial had a return on equity of 1.48% and a net margin of 3.05%.

Hedge Funds Weigh In On Genworth Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada raised its position in Genworth Financial by 75.8% during the first quarter. Royal Bank of Canada now owns 118,058 shares of the financial services provider's stock worth $837,000 after acquiring an additional 50,911 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Genworth Financial by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 252,152 shares of the financial services provider's stock valued at $1,788,000 after acquiring an additional 7,106 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Genworth Financial by 4.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,184,144 shares of the financial services provider's stock worth $8,396,000 after purchasing an additional 55,071 shares during the last quarter. Strs Ohio bought a new stake in shares of Genworth Financial in the 1st quarter valued at about $82,000. Finally, Legal & General Group Plc raised its holdings in shares of Genworth Financial by 0.7% in the 2nd quarter. Legal & General Group Plc now owns 1,193,189 shares of the financial services provider's stock valued at $9,283,000 after purchasing an additional 8,619 shares during the period. 81.85% of the stock is owned by institutional investors.

Genworth Financial Company Profile

Genworth Financial NYSE: GNW is a leading financial security company offering a broad range of insurance products. Based in Richmond, Virginia, Genworth provides individuals and families with solutions designed to protect against long-term care expenses, secure life insurance needs and support homeownership through private mortgage insurance. With operations spanning the United States, Canada and Australia, the company serves both retail and institutional clients through a diversified portfolio of risk management services.

The company's Private Mortgage Insurance (PMI) segment offers coverage to lenders and consumers in the US, Canada and Australia, enabling homebuyers to purchase properties with lower down payments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.