Keefe, Bruyette & Woods Issues Positive Forecast for Genworth Financial (NYSE:GNW) Stock Price

Genworth Financial (NYSE:GNW) had its price objective hoisted by equities researchers at Keefe, Bruyette & Woods from $8.00 to $8.50 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 22.13% from the stock’s previous close.

Genworth Financial Price Performance

NYSE GNW opened at $6.96 on Tuesday. Genworth Financial has a fifty-two week low of $5.87 and a fifty-two week high of $7.90. The stock’s 50-day moving average is $6.78 and its two-hundred day moving average is $7.01. The firm has a market cap of $2.88 billion, a P/E ratio of 10.24 and a beta of 0.99. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.29 and a quick ratio of 0.29.

Genworth Financial (NYSE:GNW) last issued its quarterly earnings data 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). The company had revenue of $1.76 billion during the quarter. Genworth Financial had a net margin of 4.10% and a return on equity of 2.96%.

Institutional Trading of Genworth Financial

A number of institutional investors and hedge funds have recently modified their holdings of the company. Comerica Bank grew its stake in Genworth Financial by 52.8% in the 1st quarter. Comerica Bank now owns 322,156 shares of the financial services provider’s stock valued at $2,284,000 after buying an additional 111,296 shares during the last quarter. Jump Financial LLC grew its position in shares of Genworth Financial by 81.4% in the first quarter. Jump Financial LLC now owns 636,378 shares of the financial services provider’s stock valued at $4,512,000 after purchasing an additional 285,636 shares during the last quarter. Valueworks LLC grew its position in shares of Genworth Financial by 2.3% in the first quarter. Valueworks LLC now owns 725,300 shares of the financial services provider’s stock valued at $5,142,000 after purchasing an additional 16,080 shares during the last quarter. Capital Fund Management S.A. bought a new position in shares of Genworth Financial in the first quarter worth about $701,000. Finally, Quantbot Technologies LP lifted its position in shares of Genworth Financial by 163.3% during the 1st quarter. Quantbot Technologies LP now owns 93,379 shares of the financial services provider’s stock worth $662,000 after purchasing an additional 57,919 shares during the last quarter. 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.