Genworth Financial (NYSE:GNW) Shares Pass Above 200 Day Moving Average – Here’s Why

Genworth Financial, Inc. (NYSE:GNW) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.92 and traded as high as $7.03. Genworth Financial shares last traded at $7.03, with a volume of 2,184,567 shares.

Analyst Upgrades and Downgrades

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 Stock Up 0.2 %

The company has a debt-to-equity ratio of 0.17, a current ratio of 0.29 and a quick ratio of 0.29. The firm’s fifty day moving average price is $7.23 and its two-hundred day moving average price is $6.93. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of 33.45 and a beta of 1.00.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted its position in shares of Genworth Financial by 72.1% during the second quarter. EverSource Wealth Advisors LLC now owns 4,828 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 2,022 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in Genworth Financial in the third quarter worth $30,000. GAMMA Investing LLC boosted its stake in shares of 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 purchasing an additional 2,347 shares during the period. LMR Partners LLP bought a new position in Genworth Financial during the 3rd quarter valued at about $73,000. Finally, Atlas Wealth LLC purchased a new stake in Genworth Financial in the 3rd quarter worth about $91,000. 81.85% of the stock is owned by hedge funds and other institutional investors.

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.