Genworth Financial (NYSE:GNW) Upgraded to “Outperform” at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of Genworth Financial (NYSE:GNW) from a market perform rating to an outperform rating in a report issued on Wednesday morning, Marketbeat.com reports. They currently have $9.00 price objective on the financial services provider’s stock, up from their previous price objective of $8.50.

Separately, Wall Street Zen downgraded Genworth Financial from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd.

Genworth Financial Price Performance

GNW stock opened at $7.76 on Wednesday. The company has a market capitalization of $3.22 billion, a P/E ratio of 15.52 and a beta of 1.03. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.29 and a current ratio of 0.29. Genworth Financial has a 52-week low of $5.95 and a 52-week high of $7.90. The business has a 50-day simple moving average of $6.88 and a two-hundred day simple moving average of $6.97.

Genworth Financial (NYSE:GNW) last released its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.09). The company had revenue of $1.76 billion for the quarter. Genworth Financial had a net margin of 2.97% and a return on equity of 2.53%.

Hedge Funds Weigh In On Genworth Financial

Several hedge funds have recently modified their holdings of GNW. Nuveen LLC bought a new position in shares of Genworth Financial during the 1st quarter worth approximately $24,661,000. Prudential Financial Inc. lifted its position in shares of Genworth Financial by 70.2% during the 4th quarter. Prudential Financial Inc. now owns 5,567,978 shares of the financial services provider’s stock worth $38,920,000 after buying an additional 2,296,538 shares in the last quarter. Norges Bank bought a new position in shares of Genworth Financial during the 4th quarter worth approximately $15,034,000. Boone Capital Management LLC bought a new position in shares of Genworth Financial during the 4th quarter worth approximately $10,741,000. Finally, Nuveen Asset Management LLC lifted its position in shares of Genworth Financial by 106.9% during the 4th quarter. Nuveen Asset Management LLC now owns 2,663,077 shares of the financial services provider’s stock worth $18,615,000 after buying an additional 1,375,637 shares in the last quarter. Institutional investors own 81.85% of the company’s stock.

About Genworth Financial

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.