Genworth Financial (NYSE:GNW) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of Genworth Financial (NYSE:GNW) from a hold rating to a buy rating in a report published on Monday morning.

Separately, Keefe, Bruyette & Woods boosted their price objective on Genworth Financial from $6.50 to $7.00 and gave the stock a market perform rating in a research note on Wednesday, April 10th.

Genworth Financial Price Performance

GNW traded up $0.22 on Monday, reaching $6.39. The company had a trading volume of 3,853,306 shares, compared to its average volume of 2,841,298. The company has a market capitalization of $2.79 billion, a P/E ratio of 33.58 and a beta of 0.92. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.17. The company has a fifty day moving average of $6.26 and a 200-day moving average of $6.25. Genworth Financial has a one year low of $5.32 and a one year high of $6.94.

Genworth Financial (NYSE:GNW) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.09. Genworth Financial had a net margin of 0.43% and a return on equity of 0.25%. The business had revenue of $1.77 billion during the quarter. During the same quarter last year, the business earned $0.29 earnings per share.

Insider Transactions at Genworth Financial

In related news, CEO Thomas J. Mcinerney sold 200,000 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $6.27, for a total transaction of $1,254,000.00. Following the completion of the sale, the chief executive officer now directly owns 4,361,980 shares of the company’s stock, valued at $27,349,614.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Genworth Financial

A number of hedge funds have recently modified their holdings of GNW. Acadian Asset Management LLC boosted its position in shares of Genworth Financial by 1,896.5% in the 2nd quarter. Acadian Asset Management LLC now owns 733,968 shares of the financial services provider’s stock valued at $4,428,000 after purchasing an additional 697,206 shares during the period. Foundry Partners LLC boosted its holdings in shares of Genworth Financial by 5.3% in the second quarter. Foundry Partners LLC now owns 843,175 shares of the financial services provider’s stock worth $5,093,000 after buying an additional 42,446 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Genworth Financial by 5.1% in the second quarter. Victory Capital Management Inc. now owns 618,852 shares of the financial services provider’s stock worth $3,738,000 after buying an additional 30,041 shares during the period. Natixis Advisors LLC increased its position in shares of Genworth Financial by 30.2% in the second quarter. Natixis Advisors LLC now owns 103,218 shares of the financial services provider’s stock worth $623,000 after acquiring an additional 23,929 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of Genworth Financial during the second quarter valued at approximately $85,000. 81.85% of the stock is currently owned by institutional investors and hedge funds.

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.