Genworth Financial (NYSE:GNW) Sets New 12-Month High – Time to Buy?

Shares of Genworth Financial, Inc. (NYSE:GNW) reached a new 52-week high on Wednesday . The company traded as high as $9.28 and last traded at $9.1250, with a volume of 2335286 shares. The stock had previously closed at $9.24.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GNW. Wall Street Zen upgraded Genworth Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Genworth Financial in a research note on Monday. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Genworth Financial from $9.50 to $10.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Genworth Financial presently has a consensus rating of “Buy” and an average price target of $10.00.

Genworth Financial Stock Down 1.2%

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 stock has a market cap of $3.64 billion, a price-to-earnings ratio of 17.22 and a beta of 1.02. The firm has a 50 day simple moving average of $8.66 and a two-hundred day simple moving average of $8.34.

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

Institutional Investors Weigh In On Genworth Financial

Several hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new stake in Genworth Financial during the 2nd quarter worth $26,992,000. Invesco Ltd. increased its holdings in shares of Genworth Financial by 41.0% in the second quarter. Invesco Ltd. now owns 4,291,220 shares of the financial services provider’s stock worth $33,386,000 after acquiring an additional 1,248,374 shares in the last quarter. Trexquant Investment LP increased its holdings in shares of Genworth Financial by 162.4% in the first quarter. Trexquant Investment LP now owns 1,330,661 shares of the financial services provider’s stock worth $9,434,000 after acquiring an additional 823,470 shares in the last quarter. American Century Companies Inc. raised its position in shares of Genworth Financial by 10.0% during the second quarter. American Century Companies Inc. now owns 8,863,036 shares of the financial services provider’s stock worth $68,954,000 after purchasing an additional 806,502 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Genworth Financial by 28.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,523,537 shares of the financial services provider’s stock valued at $27,413,000 after purchasing an additional 774,010 shares in the last quarter. 81.85% of the stock is currently owned by institutional investors and hedge funds.

About Genworth Financial

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.