Genworth Financial (NYSE:GNW) Reaches New 52-Week High – What’s Next?

Genworth Financial, Inc. (NYSE:GNW) shares reached a new 52-week high on Wednesday . The company traded as high as $7.48 and last traded at $7.45, with a volume of 233339 shares. The stock had previously closed at $7.43.

Analysts Set New Price Targets

Separately, StockNews.com cut Genworth Financial from a “buy” rating to a “hold” rating in a research report on Wednesday.

Genworth Financial Price Performance

The stock has a 50-day moving average of $6.95 and a two-hundred day moving average of $6.61. The firm has a market cap of $3.26 billion, a price-to-earnings ratio of 36.36 and a beta of 0.95. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.17.

Insider Buying and Selling at Genworth Financial

In other news, CEO Thomas J. Mcinerney sold 150,000 shares of Genworth Financial stock in a transaction on Monday, August 26th. The stock was sold at an average price of $6.88, for a total transaction of $1,032,000.00. Following the transaction, the chief executive officer now owns 4,532,954 shares in the company, valued at approximately $31,186,723.52. The trade was a 3.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Genworth Financial

Institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC lifted its position in Genworth Financial by 72.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,828 shares of the financial services provider’s stock worth $29,000 after buying an additional 2,022 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of Genworth Financial in the third quarter worth $30,000. GAMMA Investing LLC raised its holdings in shares of Genworth Financial by 34.0% during the third quarter. GAMMA Investing LLC now owns 9,247 shares of the financial services provider’s stock worth $63,000 after acquiring an additional 2,347 shares in the last quarter. LMR Partners LLP acquired a new stake in Genworth Financial during the third quarter valued at $73,000. Finally, RMR Wealth Builders increased its position in Genworth Financial by 20.2% in the 2nd quarter. RMR Wealth Builders now owns 12,620 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 2,120 shares during the last quarter. 81.85% of the stock is currently owned by institutional investors and hedge funds.

About Genworth Financial

Genworth Financial, Inc, together with its subsidiaries, provides mortgage and long-term care insurance products in the United States and internationally. It operates in three segments: Enact, Long-Term Care Insurance, and Life and Annuities. The Enact segment offers private mortgage insurance products primarily insuring prime-based, individually underwritten residential mortgage loans; and pool mortgage insurance products.