Genworth Financial (NYSE:GNW) Price Target Raised to $10.00

Genworth Financial (NYSE:GNWFree Report) had its price objective increased by Keefe, Bruyette & Woods from $9.50 to $10.00 in a research report released on Thursday morning,Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

A number of other equities research analysts have also recently weighed in on GNW. Wall Street Zen upgraded shares of Genworth Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Genworth Financial in a report on Wednesday. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Genworth Financial has a consensus rating of “Moderate Buy” and an average price target of $10.00.

Get Our Latest Stock Analysis on Genworth Financial

Genworth Financial Price Performance

Shares of NYSE GNW opened at $8.52 on Thursday. Genworth Financial has a fifty-two week low of $5.99 and a fifty-two week high of $9.15. The firm’s 50-day simple moving average is $8.62 and its 200 day simple moving average is $7.66. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.16. The stock has a market cap of $3.50 billion, a P/E ratio of 18.93 and a beta of 0.99.

Genworth Financial (NYSE:GNWGet Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.11. Genworth Financial had a net margin of 2.61% and a return on equity of 1.91%. The business had revenue of $1.80 billion for the quarter.

Insider Transactions at Genworth Financial

In related news, CEO Rohit Gupta sold 86,406 shares of Genworth Financial stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $8.68, for a total transaction of $750,004.08. Following the transaction, the chief executive officer directly owned 794,630 shares of the company’s stock, valued at $6,897,388.40. The trade was a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Genworth Financial

A number of institutional investors have recently bought and sold shares of the stock. Xponance Inc. increased its stake in Genworth Financial by 4.8% in the 1st quarter. Xponance Inc. now owns 32,525 shares of the financial services provider’s stock worth $231,000 after purchasing an additional 1,493 shares in the last quarter. Ethic Inc. increased its stake in Genworth Financial by 15.1% in the 2nd quarter. Ethic Inc. now owns 14,045 shares of the financial services provider’s stock worth $110,000 after purchasing an additional 1,847 shares in the last quarter. GAMMA Investing LLC increased its stake in Genworth Financial by 16.3% in the 3rd quarter. GAMMA Investing LLC now owns 13,683 shares of the financial services provider’s stock worth $122,000 after purchasing an additional 1,913 shares in the last quarter. Byrne Asset Management LLC increased its stake in Genworth Financial by 69.5% in the 1st quarter. Byrne Asset Management LLC now owns 7,595 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 3,115 shares in the last quarter. Finally, HighTower Advisors LLC increased its stake in Genworth Financial by 20.0% in 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. Hedge funds and other institutional investors own 81.85% of the company’s stock.

Genworth Financial Company Profile

(Get Free Report)

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.

Further Reading

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