Genworth Financial (NYSE:GNW) Sets New 12-Month High – Here’s What Happened

Genworth Financial, Inc. (NYSE:GNW) shares reached a new 52-week high on Thursday . The company traded as high as $10.69 and last traded at $10.6050, with a volume of 317444 shares trading hands. The stock had previously closed at $10.13.

Wall Street Analysts Forecast Growth

GNW has been the subject of a number of analyst reports. Weiss Ratings lowered Genworth Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, August 19th. Keefe, Bruyette & Woods raised Genworth Financial from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. Wall Street Zen raised Genworth Financial from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, Zacks Research upgraded Genworth Financial to a “hold” rating in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

Genworth Financial Stock Up 4.8%

The business has a 50-day moving average price of $9.80 and a 200 day moving average price of $9.07. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $4.01 billion, a P/E ratio of 20.39 and a beta of 0.85.

Genworth Financial (NYSE:GNW) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. Genworth Financial had a net margin of 2.87% and a return on equity of 1.06%. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.90 billion. On average, equities analysts expect that Genworth Financial, Inc. will post 1.1 EPS for the current fiscal year.

Insider Buying and Selling at Genworth Financial

In other news, EVP Melissa Hagerman sold 14,708 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $9.91, for a total transaction of $145,756.28. Following the sale, the executive vice president directly owned 192,539 shares in the company, valued at approximately $1,908,061.49. This represents a 7.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GNW. Headlands Technologies LLC bought a new stake in shares of Genworth Financial in the 2nd quarter valued at approximately $44,000. Larson Financial Group LLC increased its position in shares of Genworth Financial by 12,597.7% during the 3rd quarter. Larson Financial Group LLC now owns 5,587 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 5,543 shares during the last quarter. Atlas Wealth LLC purchased a new stake in Genworth Financial during the 1st quarter valued at $51,000. Danske Bank A S purchased a new stake in Genworth Financial during the 3rd quarter valued at $60,000. Finally, EverSource Wealth Advisors LLC lifted its position in Genworth Financial by 140.3% in the second quarter. EverSource Wealth Advisors LLC now owns 8,063 shares of the financial services provider’s stock worth $63,000 after buying an additional 4,708 shares during the last quarter. Hedge funds and other institutional investors own 81.85% of the company’s stock.

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.