Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Genworth Financial (NYSE:GNW) Stock

Key Points

• Keefe, Bruyette & Woods raised Genworth Financial’s price target from $11 to $12 and kept an outperform rating, implying about 30% upside from the previous close.
• Other analysts have also become more positive on GNW, and the stock now carries a consensus “Moderate Buy” rating with a consensus target price of $12.00.
• Genworth Financial recently reported Q1 earnings of $0.28 per share, beating estimates, while shares were trading around $9.21 and near their 52-week high of $9.69.

Genworth Financial (NYSE:GNW - Get Free Report) had its price target upped by analysts at Keefe, Bruyette & Woods from $11.00 to $12.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' target price suggests a potential upside of 30.36% from the company's previous close.

A number of other research firms have also weighed in on GNW. Wall Street Zen raised Genworth Financial from a "sell" rating to a "hold" rating in a research note on Sunday. Weiss Ratings raised Genworth Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, June 30th. Finally, Zacks Research upgraded Genworth Financial to a "hold" rating in a report on Wednesday, May 27th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.00.

Genworth Financial Stock Up 0.1%

Shares of GNW opened at $9.21 on Monday. Genworth Financial has a one year low of $7.13 and a one year high of $9.69. The stock has a market capitalization of $3.53 billion, a price-to-earnings ratio of 17.70 and a beta of 0.85. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a 50 day moving average price of $9.06 and a 200 day moving average price of $8.75.

Genworth Financial (NYSE:GNW - Get Free Report) last released its earnings results on Tuesday, May 5th. The financial services provider reported $0.28 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.10. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.72 billion. Genworth Financial had a net margin of 2.96% and a return on equity of 1.73%. Equities research analysts forecast that Genworth Financial will post 0.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Genworth Financial news, Director Robert P. Restrepo, Jr. sold 50,000 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $9.12, for a total value of $456,000.00. Following the transaction, the director directly owned 92,655 shares in the company, valued at $845,013.60. This represents a 35.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Thomas J. Mcinerney sold 100,000 shares of the company's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $9.27, for a total transaction of $927,000.00. Following the completion of the transaction, the chief executive officer owned 5,368,883 shares of the company's stock, valued at approximately $49,769,545.41. The trade was a 1.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.80% of the company's stock.

Institutional Investors Weigh In On Genworth Financial

A number of hedge funds have recently added to or reduced their stakes in the company. Captrust Financial Advisors increased its holdings in shares of Genworth Financial by 8.3% in the 4th quarter. Captrust Financial Advisors now owns 14,770 shares of the financial services provider's stock valued at $133,000 after purchasing an additional 1,133 shares in the last quarter. Truist Financial Corp increased its position in Genworth Financial by 9.6% during the fourth quarter. Truist Financial Corp now owns 14,342 shares of the financial services provider's stock worth $130,000 after purchasing an additional 1,257 shares during the last quarter. Abel Hall LLC grew its stake in shares of Genworth Financial by 11.9% during the 4th quarter. Abel Hall LLC now owns 12,672 shares of the financial services provider's stock valued at $114,000 after buying an additional 1,348 shares during the period. ProShare Advisors LLC raised its position in shares of Genworth Financial by 1.8% in the 4th quarter. ProShare Advisors LLC now owns 78,983 shares of the financial services provider's stock worth $713,000 after buying an additional 1,382 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in Genworth Financial by 1.8% in the third quarter. Mackenzie Financial Corp now owns 88,379 shares of the financial services provider's stock valued at $787,000 after acquiring an additional 1,523 shares during the last quarter. Institutional investors and hedge funds own 81.85% of the company's stock.

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.

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