Today’s Market Runner: Time to Buy Genworth Financial Inc After Today’s Big Increase?

Today's Market Runner: Time to Buy Genworth Financial Inc After Today's Big Increase?

The stock of Genworth Financial Inc (NYSE:GNW) is a huge mover today! About 14.12M shares traded hands or 14.80% up from the average. Genworth Financial Inc (NYSE:GNW) has risen 42.65% since March 29, 2016 and is uptrending. It has outperformed by 39.18% the S&P500.
The move comes after 7 months positive chart setup for the $1.92 billion company. It was reported on Oct, 31 by Barchart.com. We have $6.55 PT which if reached, will make NYSE:GNW worth $1.09B more.

Analysts await Genworth Financial Inc (NYSE:GNW) to report earnings on November, 3. They expect $0.18 earnings per share, up 38.46% or $0.05 from last year’s $0.13 per share. GNW’s profit will be $82.88M for 5.79 P/E if the $0.18 EPS becomes a reality. After $0.25 actual earnings per share reported by Genworth Financial Inc for the previous quarter, Wall Street now forecasts -28.00% negative EPS growth.

Genworth Financial Inc (NYSE:GNW) Ratings Coverage

Out of 8 analysts covering Genworth Financial (NYSE:GNW), 0 rate it a “Buy”, 1 “Sell”, while 7 “Hold”. This means 0 are positive. Genworth Financial has been the topic of 18 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The stock of Genworth Financial Inc (NYSE:GNW) earned “Buy” rating by Compass Point on Monday, February 8. UBS maintained the stock with “Neutral” rating in Tuesday, September 8 report. BTIG Research downgraded Genworth Financial Inc (NYSE:GNW) on Wednesday, October 5 to “Neutral” rating. Macquarie Research upgraded Genworth Financial Inc (NYSE:GNW) on Wednesday, August 5 to “Neutral” rating. The rating was downgraded by UBS on Wednesday, November 4 to “Sell”. The rating was initiated by Wells Fargo on Friday, September 23 with “Market Perform”. The stock has “Buy” rating given by Compass Point on Monday, August 10. The firm has “Neutral” rating by Goldman Sachs given on Tuesday, November 17. Raymond James downgraded Genworth Financial Inc (NYSE:GNW) on Thursday, August 6 to “Outperform” rating. The stock of Genworth Financial Inc (NYSE:GNW) has “Neutral” rating given on Monday, September 19 by Compass Point.

According to Zacks Investment Research, “Genworth Financial is a leading insurance company in the U.S., with an expanding international presence, serving the life and lifestyle protection, retirement income, investment and mortgage insurance needs of their customers. They distribute their products and services through an extensive and diversified distribution network that includes financial intermediaries, independent producers and dedicated sales specialists.”

Insitutional Activity: The institutional sentiment increased to 1.25 in Q2 2016. Its up 0.07, from 1.18 in 2016Q1. The ratio is positive, as 39 funds sold all Genworth Financial Inc shares owned while 67 reduced positions. 31 funds bought stakes while 101 increased positions. They now own 345.41 million shares or 5.30% less from 364.73 million shares in 2016Q1.
Blackrock Japan Co Limited holds 94,644 shares or 0% of its portfolio. Davenport & Lc holds 166,350 shares or 0% of its portfolio. New York State Teachers Retirement System reported 895,617 shares or 0.01% of all its holdings. Moreover, Qcm Cayman has 0.08% invested in Genworth Financial Inc (NYSE:GNW) for 73,244 shares. Fuller Thaler Asset Management Inc last reported 0.28% of its portfolio in the stock. Grp One Trading Limited Partnership holds 735,227 shares or 0.02% of its portfolio. Ladenburg Thalmann Fincl holds 0% or 15,356 shares in its portfolio. The New York-based Retail Bank Of New York Mellon Corp has invested 0% in Genworth Financial Inc (NYSE:GNW). Blackrock Group last reported 0% of its portfolio in the stock. Virginia Retirement Et Al last reported 65,500 shares in the company. Thrivent Fincl For Lutherans accumulated 455,650 shares or 0.01% of the stock. Canada Pension Plan Investment Board holds 310,938 shares or 0% of its portfolio. Creative Planning reported 47,823 shares or 0% of all its holdings. The California-based Fdx Advsrs has invested 0% in Genworth Financial Inc (NYSE:GNW). Invesco Ltd owns 3.49M shares or 0% of their US portfolio.

More recent Genworth Financial Inc (NYSE:GNW) news were published by: Bloomberg.com which released: “China Oceanwide Joins Spree With $2.7 Billion Genworth Bid” on October 24, 2016. Also Investorplace.com published the news titled: “3 Stocks to Watch Monday: Genworth Financial Inc (GNW), TD Ameritrade Holding …” on October 24, 2016. Prnewswire.com‘s news article titled: “Technical Reports on Life Insurance Stocks — Genworth Financial, MetLife, ING …” with publication date: October 31, 2016 was also an interesting one.

GNW Company Profile

Genworth Financial, Inc., incorporated on December 5, 2012, provides mortgage insurance products that allow people to purchase homes. The Firm offers homeownership education and assistance programs, and offers individual and group long-term care insurance products to meet consumer needs for long-term care. The Firm operates through five divisions: U.S. Mortgage Insurance, Canada Mortgage Insurance, Australia Mortgage Insurance, U.S. Life Insurance and Runoff. The Company’s U.S. Mortgage Insurance offers mortgage insurance products insuring prime-based, individually underwritten residential mortgage loans (flow mortgage insurance) in the United States. The Company’s Canada Mortgage Insurance segment offers flow mortgage insurance and also provides bulk mortgage insurance that aids in the sale of mortgages to the capital markets and helps lenders manage capital and risk in Canada. The Company’s Australia Mortgage Insurance segment offers flow mortgage insurance and selectively provides bulk mortgage insurance in Australia that aids in the sale of mortgages to the capital markets and helps lenders manage capital and risk. The Company’s U.S. Life Insurance offers long-term care insurance products in the United States. The Runoff segment includes the results of non-strategic products, which are no longer sold.

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