Genworth Financial (NYSE:GNW) Reaches New 52-Week High – Here’s Why

Genworth Financial, Inc. (NYSE:GNW)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $7.90 and last traded at $7.90, with a volume of 53987 shares changing hands. The stock had previously closed at $7.81.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Genworth Financial from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th.

Genworth Financial Price Performance

The firm’s fifty day moving average price is $7.04 and its 200 day moving average price is $6.64. The firm has a market capitalization of $3.34 billion, a PE ratio of 37.21 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.

Institutional Investors Weigh In On Genworth Financial

A number of hedge funds have recently modified their holdings of GNW. Donald Smith & CO. Inc. boosted its stake in Genworth Financial by 3.7% during the third quarter. Donald Smith & CO. Inc. now owns 25,015,294 shares of the financial services provider’s stock worth $171,355,000 after buying an additional 901,485 shares during the period. River Road Asset Management LLC raised its position in shares of Genworth Financial by 0.8% during the 3rd quarter. River Road Asset Management LLC now owns 17,391,968 shares of the financial services provider’s stock worth $119,135,000 after acquiring an additional 131,634 shares in the last quarter. American Century Companies Inc. raised its holdings in Genworth Financial by 9.1% during the second quarter. American Century Companies Inc. now owns 7,054,069 shares of the financial services provider’s stock worth $42,607,000 after purchasing an additional 590,496 shares in the last quarter. FMR LLC lifted its position in Genworth Financial by 18.7% in the third quarter. FMR LLC now owns 5,675,896 shares of the financial services provider’s stock valued at $38,880,000 after acquiring an additional 894,053 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Genworth Financial by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,095,892 shares of the financial services provider’s stock valued at $34,907,000 after purchasing an additional 92,849 shares during the period. 81.85% of the stock is currently owned by institutional investors and hedge funds.

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.