Genworth Financial (NYSE:GNW) Upgraded to Strong-Buy at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of Genworth Financial (NYSE:GNW) from a moderate buy rating to a strong-buy rating in a research note released on Tuesday,Zacks.com reports.

Several other equities analysts have also weighed in on GNW. Weiss Ratings upgraded shares of Genworth Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 5th. Wall Street Zen upgraded shares of Genworth Financial from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, Zacks Research raised shares of Genworth Financial to a “hold” rating in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $12.00.

Genworth Financial Stock Up 2.1%

GNW stock opened at $10.00 on Tuesday. The stock has a market cap of $3.78 billion, a P/E ratio of 19.23 and a beta of 0.87. 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’s fifty day simple moving average is $9.47 and its two-hundred day simple moving average is $8.93. Genworth Financial has a 1-year low of $7.84 and a 1-year high of $10.20.

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

Insider Activity

In related news, CEO Thomas J. Mcinerney sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $9.27, for a total value of $927,000.00. Following the completion of the transaction, the chief executive officer directly owned 5,368,883 shares of the company’s stock, valued at approximately $49,769,545.41. This trade represents a 1.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert P. Restrepo, Jr. sold 50,000 shares of Genworth Financial stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $9.12, for a total transaction of $456,000.00. Following the completion of the transaction, the director owned 92,655 shares of the company’s stock, valued at $845,013.60. This represents a 35.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Genworth Financial

Large investors have recently made changes to their positions in the stock. Headlands Technologies LLC bought a new stake in shares of Genworth Financial during the 2nd quarter valued at $44,000. Larson Financial Group LLC grew its holdings in 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 buying an additional 5,543 shares in the last quarter. Atlas Wealth LLC bought a new stake in shares of Genworth Financial during the first quarter valued at about $51,000. Danske Bank A S purchased a new stake in shares of Genworth Financial in the third quarter worth about $60,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of 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 valued at $63,000 after acquiring an additional 4,708 shares during the period. 81.85% of the stock is owned by institutional investors.

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.