Genworth Financial (NYSE:GNW) Given New $7.00 Price Target at Keefe, Bruyette & Woods

Genworth Financial (NYSE:GNW) had its price target upped by Keefe, Bruyette & Woods from $6.50 to $7.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a market perform rating on the financial services provider’s stock.

Genworth Financial Stock Performance

Genworth Financial stock opened at $6.02 on Wednesday. The business has a 50 day moving average of $6.23 and a 200-day moving average of $6.17. Genworth Financial has a 1 year low of $4.51 and a 1 year high of $6.93. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.30 and a quick ratio of 0.30. The company has a market capitalization of $2.66 billion, a P/E ratio of -601,500.00 and a beta of 1.06.

Genworth Financial (NYSE:GNW) last released its quarterly earnings data on Wednesday, February 21st. The financial services provider reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.70). Genworth Financial had a net margin of 0.21% and a negative return on equity of 0.23%. The firm had revenue of $1.91 billion during the quarter. During the same period in the prior year, the company earned $0.35 earnings per share.

Institutional Trading of Genworth Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC increased its position in Genworth Financial by 3.5% during the 1st quarter. Los Angeles Capital Management LLC now owns 131,621 shares of the financial services provider’s stock valued at $846,000 after purchasing an additional 4,435 shares during the period. Quadrature Capital Ltd acquired a new stake in Genworth Financial during the 4th quarter valued at approximately $431,000. Virtu Financial LLC acquired a new stake in Genworth Financial during the 4th quarter valued at approximately $83,000. Price T Rowe Associates Inc. MD increased its position in Genworth Financial by 2.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 375,571 shares of the financial services provider’s stock valued at $2,509,000 after purchasing an additional 7,350 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in Genworth Financial during the 4th quarter valued at approximately $6,471,000. Institutional investors and hedge funds own 81.85% of the company’s stock.

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.