Genworth Financial (NYSE:GNW) Hits New 52-Week High – What’s Next?

Genworth Financial, Inc. (NYSE:GNW)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $9.19 and last traded at $9.2050, with a volume of 535162 shares trading hands. The stock had previously closed at $9.04.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Wall Street Zen raised Genworth Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Keefe, Bruyette & Woods upped their price objective on Genworth Financial from $9.50 to $10.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Genworth Financial in a report on Monday. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $10.00.

Genworth Financial Stock Performance

The stock has a market cap of $3.67 billion, a PE ratio of 17.35 and a beta of 1.02. The firm’s 50-day moving average is $8.62 and its 200 day moving average is $8.27. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.29 and a current ratio of 0.29.

Genworth Financial (NYSE:GNW) last posted its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). Genworth Financial had a return on equity of 1.56% and a net margin of 3.01%.The company had revenue of $1.04 billion for the quarter.

Institutional Investors Weigh In On Genworth Financial

A number of institutional investors and hedge funds have recently modified their holdings of GNW. HighTower Advisors LLC increased its stake in shares of Genworth Financial by 20.0% during the 1st quarter. HighTower Advisors LLC now owns 21,111 shares of the financial services provider’s stock worth $150,000 after purchasing an additional 3,521 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in Genworth Financial during the 1st quarter valued at $336,000. American Century Companies Inc. increased its position in Genworth Financial by 11.6% during the first quarter. American Century Companies Inc. now owns 8,056,534 shares of the financial services provider’s stock worth $57,121,000 after buying an additional 836,192 shares in the last quarter. Quantbot Technologies LP raised its holdings in shares of Genworth Financial by 163.3% in the first quarter. Quantbot Technologies LP now owns 93,379 shares of the financial services provider’s stock worth $662,000 after acquiring an additional 57,919 shares during the last quarter. Finally, Capital Fund Management S.A. purchased a new stake in shares of Genworth Financial in the first quarter valued at $701,000. Institutional investors and hedge funds own 81.85% of the company’s stock.

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.