Genworth Financial (NYSE:GNW) Receives Outperform Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reissued their outperform rating on shares of Genworth Financial (NYSE:GNW) in a research note released on Thursday,Benzinga reports. The firm currently has a $10.50 price target on the financial services provider’s stock.

Several other brokerages also recently commented on GNW. Weiss Ratings downgraded shares of Genworth Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, March 5th. Wall Street Zen downgraded shares of Genworth Financial from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $10.50.

Genworth Financial Stock Up 1.9%

Shares of GNW opened at $8.32 on Thursday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.15. The business has a fifty day moving average of $8.45 and a 200 day moving average of $8.64. The company has a market cap of $3.22 billion, a PE ratio of 15.69 and a beta of 1.00. Genworth Financial has a 52-week low of $5.99 and a 52-week high of $9.28.

Genworth Financial (NYSE:GNW) last posted its quarterly earnings data on Monday, February 23rd. The financial services provider reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.14). The firm had revenue of $1.04 billion for the quarter. Genworth Financial had a net margin of 3.05% and a return on equity of 1.48%.

Institutional Investors Weigh In On Genworth Financial

Several hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in shares of Genworth Financial by 1.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 26,493,475 shares of the financial services provider’s stock worth $235,793,000 after buying an additional 270,062 shares in the last quarter. Nuveen LLC raised its holdings in shares of Genworth Financial by 2.3% in the fourth quarter. Nuveen LLC now owns 9,781,111 shares of the financial services provider’s stock valued at $88,323,000 after acquiring an additional 223,279 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Genworth Financial by 7.9% in the third quarter. American Century Companies Inc. now owns 9,567,534 shares of the financial services provider’s stock valued at $85,151,000 after acquiring an additional 704,498 shares in the last quarter. Gendell Jeffrey L lifted its stake in Genworth Financial by 168.0% in the fourth quarter. Gendell Jeffrey L now owns 6,485,888 shares of the financial services provider’s stock worth $58,568,000 after acquiring an additional 4,065,684 shares during the period. Finally, Norges Bank purchased a new stake in Genworth Financial in the fourth quarter worth about $45,912,000. 81.85% of the stock is currently owned by hedge funds and other institutional investors.

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.