Genworth Financial (NYSE:GNW) Given New $11.00 Price Target at Keefe, Bruyette & Woods
by Jessica Moore · The Cerbat GemGenworth Financial (NYSE:GNW – Get Free Report) had its price objective increased by equities research analysts at Keefe, Bruyette & Woods from $10.50 to $11.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 21.49% from the company’s previous close.
A number of other research firms 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 Saturday. Weiss Ratings upgraded shares of Genworth Financial from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $11.00.
Genworth Financial Price Performance
Shares of GNW stock traded down $0.04 on Wednesday, hitting $9.05. 150,159 shares of the company’s stock were exchanged, compared to its average volume of 3,407,660. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.29 and a quick ratio of 0.29. Genworth Financial has a 12 month low of $6.63 and a 12 month high of $9.45. The stock has a market cap of $3.47 billion, a P/E ratio of 17.39 and a beta of 0.89. The company has a 50 day moving average of $8.53 and a 200 day moving average of $8.63.
Genworth Financial (NYSE:GNW – Get Free Report) last released its earnings results on Tuesday, May 5th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.10. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Genworth Financial had a return on equity of 1.73% and a net margin of 2.96%.
Hedge Funds Weigh In On Genworth Financial
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in Genworth Financial in the fourth quarter valued at approximately $45,912,000. Gendell Jeffrey L raised its holdings in Genworth Financial by 168.0% during the 4th quarter. Gendell Jeffrey L now owns 6,485,888 shares of the financial services provider’s stock worth $58,568,000 after purchasing an additional 4,065,684 shares during the last quarter. UBS Group AG raised its holdings in Genworth Financial by 621.2% during the 4th quarter. UBS Group AG now owns 3,598,588 shares of the financial services provider’s stock worth $32,495,000 after purchasing an additional 3,099,582 shares during the last quarter. Invesco Ltd. lifted its position in shares of Genworth Financial by 41.0% in the 2nd quarter. Invesco Ltd. now owns 4,291,220 shares of the financial services provider’s stock worth $33,386,000 after purchasing an additional 1,248,374 shares during the period. Finally, SG Americas Securities LLC lifted its position in shares of Genworth Financial by 173.7% in the 1st quarter. SG Americas Securities LLC now owns 1,188,288 shares of the financial services provider’s stock worth $9,649,000 after purchasing an additional 754,105 shares during the period. 81.85% of the stock is owned by institutional investors and hedge funds.
Genworth Financial Company Profile
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.