Keefe, Bruyette & Woods Raises Genworth Financial (NYSE:GNW) Price Target to $11.00

Genworth Financial (NYSE:GNW) had its target price increased by stock analysts at Keefe, Bruyette & Woods from $10.50 to $11.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 21.49% from the stock’s previous close.

A number of other equities analysts have also weighed in on GNW. Weiss Ratings upgraded Genworth Financial from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. Wall Street Zen upgraded Genworth Financial from a “sell” rating to a “hold” rating in a research note on Saturday. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $11.00.

Genworth Financial Stock Performance

Shares of GNW stock traded down $0.04 during midday trading on Wednesday, hitting $9.05. 150,159 shares of the company were exchanged, compared to its average volume of 3,407,660. Genworth Financial has a 52 week low of $6.63 and a 52 week high of $9.45. The firm has a market capitalization of $3.47 billion, a P/E ratio of 17.39 and a beta of 0.89. The firm’s 50 day moving average price is $8.53 and its two-hundred day moving average price is $8.63. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.29 and a current ratio of 0.29.

Genworth Financial (NYSE:GNW) last released its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.10. Genworth Financial had a net margin of 2.96% and a return on equity of 1.73%. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.72 billion.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Hudson Bay Capital Management LP increased its holdings in Genworth Financial by 17.7% in the 3rd quarter. Hudson Bay Capital Management LP now owns 849,629 shares of the financial services provider’s stock valued at $7,562,000 after buying an additional 127,722 shares during the period. American Century Companies Inc. raised its position in shares of Genworth Financial by 7.9% in the 3rd quarter. American Century Companies Inc. now owns 9,567,534 shares of the financial services provider’s stock valued at $85,151,000 after buying an additional 704,498 shares in the last quarter. Algebris UK Ltd. bought a new stake in shares of Genworth Financial during the 3rd quarter worth approximately $2,418,000. Arbiter Partners Capital Management LLC boosted its position in shares of Genworth Financial by 40.7% during the 3rd quarter. Arbiter Partners Capital Management LLC now owns 487,400 shares of the financial services provider’s stock worth $4,338,000 after acquiring an additional 141,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted 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 acquiring an additional 270,062 shares in the last quarter. Institutional investors own 81.85% of the company’s stock.

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.