Genworth Financial (NYSE:GNW) Share Price Passes Above 200 Day Moving Average – Here’s Why

Genworth Financial, Inc. (NYSE:GNW) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.42 and traded as high as $9.13. Genworth Financial shares last traded at $9.04, with a volume of 2,364,385 shares.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on GNW shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Genworth Financial in a report on Monday. Wall Street Zen upgraded shares of Genworth Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Genworth Financial from $9.50 to $10.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $10.00.

Genworth Financial Trading Down 0.7%

The business’s fifty day moving average is $8.73 and its 200-day moving average is $8.42. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market cap of $3.61 billion, a P/E ratio of 17.06 and a beta of 1.02.

Genworth Financial (NYSE:GNW) last posted its earnings results on Wednesday, November 5th. The financial services provider reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). Genworth Financial had a return on equity of 1.56% and a net margin of 3.01%.The business had revenue of $1.04 billion for the quarter.

Institutional Trading of Genworth Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hudson Bay Capital Management LP lifted its holdings in Genworth Financial by 17.7% during the 3rd quarter. Hudson Bay Capital Management LP now owns 849,629 shares of the financial services provider’s stock worth $7,562,000 after buying an additional 127,722 shares during the period. Severin Investments LLC bought a new position in shares of Genworth Financial during the third quarter worth about $529,000. Swiss Life Asset Management Ltd raised its position in shares of Genworth Financial by 99.4% during the third quarter. Swiss Life Asset Management Ltd now owns 20,997 shares of the financial services provider’s stock worth $187,000 after acquiring an additional 10,466 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new position in shares of Genworth Financial in the third quarter worth approximately $391,000. Finally, Danske Bank A S acquired a new position in shares of Genworth Financial in the 3rd quarter worth approximately $60,000. 81.85% of the stock is currently owned by institutional investors and hedge funds.

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.