Genworth Financial (NYSE:GNW) Share Price Crosses 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 $8.70 and traded as high as $9.04. Genworth Financial shares last traded at $8.9550, with a volume of 8,070,019 shares.

Analyst Ratings Changes

Several research analysts have commented on the stock. Keefe, Bruyette & Woods raised their target price on shares of Genworth Financial from $10.50 to $11.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Wall Street Zen lowered shares of Genworth Financial from a “hold” rating to a “sell” rating in a report on Sunday, May 17th. Zacks Research upgraded shares of Genworth Financial to a “hold” rating in a research report on Wednesday, May 27th. Finally, Weiss Ratings raised shares of Genworth Financial from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Genworth Financial currently has a consensus rating of “Hold” and an average target price of $11.00.

Genworth Financial Stock Down 0.2%

The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of 17.22 and a beta of 0.86. 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 firm has a 50-day moving average of $8.87 and a two-hundred day moving average of $8.70.

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

Insider Transactions at Genworth Financial

In other news, CEO Thomas J. Mcinerney sold 100,000 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $9.27, for a total value of $927,000.00. Following the completion of the sale, the chief executive officer directly owned 5,368,883 shares of the company’s stock, valued at $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 can be accessed through this link. Also, Director Robert P. Restrepo, Jr. sold 50,000 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $9.12, for a total transaction of $456,000.00. Following the completion of the sale, the director directly owned 92,655 shares of the company’s stock, valued at $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. 1.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Genworth Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Captrust Financial Advisors boosted its stake in shares of Genworth Financial by 8.3% during the 4th quarter. Captrust Financial Advisors now owns 14,770 shares of the financial services provider’s stock valued at $133,000 after buying an additional 1,133 shares during the period. Truist Financial Corp raised its holdings in shares of Genworth Financial by 9.6% during the fourth quarter. Truist Financial Corp now owns 14,342 shares of the financial services provider’s stock worth $130,000 after acquiring an additional 1,257 shares in the last quarter. Abel Hall LLC raised its holdings in shares of Genworth Financial by 11.9% during the fourth quarter. Abel Hall LLC now owns 12,672 shares of the financial services provider’s stock worth $114,000 after acquiring an additional 1,348 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of Genworth Financial by 1.8% during the fourth quarter. ProShare Advisors LLC now owns 78,983 shares of the financial services provider’s stock worth $713,000 after acquiring an additional 1,382 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its position in Genworth Financial by 1.8% during the third quarter. Mackenzie Financial Corp now owns 88,379 shares of the financial services provider’s stock valued at $787,000 after purchasing an additional 1,523 shares during the last quarter. Hedge funds and other institutional investors own 81.85% of the company’s stock.

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.