Genworth (GNW) Jumps 13.74% on Outperform Rating

We recently published a list of These 10 Stocks Boast Double-Digit Gains Amid Boring Market. Genworth Financial, Inc. (NYSE:GNW) is one of the best-performing stocks on Thursday.

Genworth grew its share prices by 13.74 percent on Wednesday to finish at $7.78 apiece after earning a rating upgrade from an investment company.

In a market note, Keefe, Bruyette & Woods raised its rating for Genworth Financial, Inc. (NYSE:GNW) to “outperform” from “market perform” previously, while setting a price target of $9, marking a 15.7-percent upside from its latest closing price.

Headquartered in Richmond, Virginia, Genworth Financial, Inc. (NYSE:GNW) is an  American financial services company providing insurance for long-term care and mortgage, among others.

In the first quarter of the year, Genworth Financial, Inc. (NYSE:GNW) dropped its net income by 61 percent to $54 million from $139 million registered in the same period last year.

Total revenues dropped by 4.18 percent to $1.786 billion from $1.864 billion year-on-year.

An individual signing financial documents with a representative from the life insurance company nearby.

Premiums represented the largest chunk of its revenues, ending at $862 million, albeit dipping by 1.5 percent from $875 million previously.

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Disclosure: None. This article is originally published at Insider Monkey.