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

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

Analyst Upgrades and Downgrades

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

Genworth Financial Price Performance

The company’s fifty day moving average price is $7.08 and its two-hundred day moving average price is $6.66. 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 market cap of $3.33 billion, a price-to-earnings ratio of 37.10 and a beta of 0.95.

Hedge Funds Weigh In On Genworth Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. bought a new stake in shares of Genworth Financial in the third quarter valued at about $30,000. EverSource Wealth Advisors LLC lifted its stake in Genworth Financial by 72.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,828 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 2,022 shares in the last quarter. GAMMA Investing LLC boosted its position in Genworth Financial by 34.0% during the 3rd quarter. GAMMA Investing LLC now owns 9,247 shares of the financial services provider’s stock worth $63,000 after acquiring an additional 2,347 shares during the last quarter. LMR Partners LLP acquired a new position in Genworth Financial during the 3rd quarter worth approximately $73,000. Finally, O Shaughnessy Asset Management LLC bought a new position in shares of Genworth Financial during the 1st quarter worth approximately $81,000. 81.85% of the stock is 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.