Genworth Financial (NYSE:GNW) Reaches New 12-Month High – Time to Buy?

Genworth Financial, Inc. (NYSE:GNW) shares reached a new 52-week high during trading on Monday . The stock traded as high as $7.25 and last traded at $7.25, with a volume of 766188 shares. The stock had previously closed at $7.07.

Analyst Upgrades and Downgrades

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

Genworth Financial Stock Performance

The firm’s 50-day simple moving average is $6.88 and its 200-day simple moving average is $6.57. The company has a market capitalization of $3.13 billion, a PE ratio of 34.90 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.

Insiders Place Their Bets

In other Genworth Financial news, CEO Thomas J. Mcinerney sold 150,000 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $31,186,723.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Genworth Financial

Several large investors have recently made changes to their positions in the company. Headlands Technologies LLC purchased a new position in shares of Genworth Financial in the first quarter valued at approximately $25,000. EverSource Wealth Advisors LLC lifted 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 buying an additional 2,022 shares in the last quarter. SageView Advisory Group LLC acquired a new position in Genworth Financial during the first quarter worth about $30,000. Harbor Capital Advisors Inc. purchased a new stake in Genworth Financial during the 3rd quarter valued at about $30,000. Finally, GAMMA Investing LLC raised its holdings in Genworth Financial by 34.0% in the 3rd quarter. GAMMA Investing LLC now owns 9,247 shares of the financial services provider’s stock valued at $63,000 after acquiring an additional 2,347 shares during the last quarter. 81.85% of the stock is currently owned by institutional investors and hedge funds.

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.