Genworth Financial (NYSE:GNW) Reaches New 12-Month High – Here’s Why

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

Analyst Upgrades and Downgrades

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

Genworth Financial Stock Performance

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 quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.17. The company has a 50 day moving average of $6.95 and a 200 day moving average of $6.61.

Insider Activity

In related news, CEO Thomas J. Mcinerney sold 150,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $6.88, for a total transaction of $1,032,000.00. Following the sale, the chief executive officer now owns 4,532,954 shares in the company, valued at $31,186,723.52. This represents a 3.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Genworth Financial

Institutional investors have recently modified their holdings of the company. Harbor Capital Advisors Inc. acquired a new stake in Genworth Financial in the 3rd quarter valued at approximately $30,000. EverSource Wealth Advisors LLC grew its stake in shares of Genworth Financial by 72.1% in the second quarter. EverSource Wealth Advisors LLC now owns 4,828 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 2,022 shares in the last quarter. GAMMA Investing LLC increased 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 valued at $63,000 after purchasing an additional 2,347 shares during the period. LMR Partners LLP bought a new stake in shares of Genworth Financial during the third quarter valued at about $73,000. Finally, O Shaughnessy Asset Management LLC acquired a new stake in Genworth Financial in the first quarter worth about $81,000. Institutional investors own 81.85% of the company’s stock.

Genworth Financial Company Profile

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.