Genworth Financial (NYSE:GNW) Hits New 1-Year High – Still a Buy?

Shares of Genworth Financial, Inc. (NYSE:GNW) hit a new 52-week high during trading on Wednesday . The stock traded as high as $9.69 and last traded at $9.5360, with a volume of 1928639 shares changing hands. The stock had previously closed at $9.54.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on GNW shares. Zacks Research upgraded shares of Genworth Financial to a “hold” rating in a report on Wednesday, May 27th. Weiss Ratings upgraded shares of Genworth Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, June 30th. Wall Street Zen cut shares of Genworth Financial from a “hold” rating to a “sell” rating in a research report on Sunday, May 17th. Finally, Keefe, Bruyette & Woods boosted their target price on Genworth Financial from $10.50 to $11.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Genworth Financial currently has an average rating of “Moderate Buy” and an average target price of $11.00.

Genworth Financial Stock Down 0.0%

The company has a market capitalization of $3.65 billion, a PE ratio of 18.34 and a beta of 0.85. The stock’s fifty day moving average is $9.04 and its two-hundred day moving average is $8.75. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.15.

Genworth Financial (NYSE:GNW) last posted its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.10. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.72 billion. Genworth Financial had a net margin of 2.96% and a return on equity of 1.73%. As a group, analysts predict that Genworth Financial, Inc. will post 0.44 EPS for the current year.

Insider Activity at Genworth Financial

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GNW. Headlands Technologies LLC purchased a new stake in Genworth Financial in the 2nd quarter worth about $44,000. Larson Financial Group LLC lifted its holdings in Genworth Financial by 12,597.7% during the third quarter. Larson Financial Group LLC now owns 5,587 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 5,543 shares during the last quarter. Atlas Wealth LLC bought a new position in Genworth Financial during the first quarter worth about $51,000. Danske Bank A S purchased a new position in shares of Genworth Financial in the third quarter worth about $60,000. Finally, EverSource Wealth Advisors LLC grew its stake in Genworth Financial by 140.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,063 shares of the financial services provider’s stock valued at $63,000 after buying an additional 4,708 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.