Keefe, Bruyette & Woods Reaffirms “Outperform” Rating for Genworth Financial (NYSE:GNW)

Genworth Financial (NYSE:GNW)‘s stock had its “outperform” rating reaffirmed by research analysts at Keefe, Bruyette & Woods in a report issued on Thursday,Benzinga reports. They presently have a $10.50 price target on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 27.35% from the stock’s previous close.

A number of other research firms have also recently issued reports on GNW. Wall Street Zen cut shares of Genworth Financial from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Weiss Ratings lowered shares of Genworth Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, March 5th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $10.50.

Genworth Financial Stock Performance

Shares of GNW stock traded up $0.09 during trading on Thursday, reaching $8.25. 1,373,190 shares of the company’s stock were exchanged, compared to its average volume of 3,774,496. 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 stock has a market capitalization of $3.20 billion, a PE ratio of 15.56 and a beta of 1.00. Genworth Financial has a twelve month low of $5.99 and a twelve month high of $9.28. The firm’s fifty day moving average price is $8.45 and its 200-day moving average price is $8.65.

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

Institutional Investors Weigh In On Genworth Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank bought a new stake in shares of Genworth Financial in the fourth quarter valued at about $45,912,000. Gendell Jeffrey L increased its position in Genworth Financial by 168.0% during 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. UBS Group AG raised its stake in Genworth Financial by 621.2% in 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 in the last quarter. Invesco Ltd. boosted its holdings in Genworth Financial by 41.0% in the 2nd quarter. Invesco Ltd. now owns 4,291,220 shares of the financial services provider’s stock valued at $33,386,000 after purchasing an additional 1,248,374 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Genworth Financial by 10.0% in the 2nd quarter. American Century Companies Inc. now owns 8,863,036 shares of the financial services provider’s stock valued at $68,954,000 after purchasing an additional 806,502 shares during the period. Institutional investors and hedge funds 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.