Genworth Financial Inc (GNW) Shares Gap Down to $4.01
Genworth Financial Inc (NYSE:GNW)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $4.10, but opened at $4.01. Genworth Financial shares last traded at $3.98, with a volume of 3,761,856 shares traded.
Several equities analysts recently weighed in on GNW shares. Off Wall Street started coverage on shares of Genworth Financial in a report on Monday, September 11th. They issued a “buy” rating on the stock. ValuEngine upgraded shares of Genworth Financial from a “sell” rating to a “hold” rating in a report on Friday, September 1st. BidaskClub upgraded shares of Genworth Financial from a “sell” rating to a “hold” rating in a report on Saturday, July 1st. Zacks Investment Research upgraded shares of Genworth Financial from a “hold” rating to a “buy” rating and set a $4.00 price target on the stock in a report on Tuesday, September 5th. Finally, Wells Fargo & Company reiterated a “hold” rating on shares of Genworth Financial in a report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $4.27.
The stock’s market cap is $2.00 billion. The company has a 50 day moving average price of $3.52 and a 200 day moving average price of $3.73.
Genworth Financial (NYSE:GNW) last issued its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.08. Genworth Financial had a negative return on equity of 1.63% and a negative net margin of 1.66%. The company had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the previous year, the business earned $0.39 earnings per share. The firm’s revenue for the quarter was down .6% on a year-over-year basis. Equities analysts forecast that Genworth Financial Inc will post $1.03 earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the company. Relative Value Partners Group LLC raised its stake in shares of Genworth Financial by 55.7% during the first quarter. Relative Value Partners Group LLC now owns 25,150 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 9,000 shares during the last quarter. NEXT Financial Group Inc raised its stake in shares of Genworth Financial by 0.5% during the second quarter. NEXT Financial Group Inc now owns 31,651 shares of the financial services provider’s stock worth $119,000 after purchasing an additional 151 shares during the last quarter. Bayesian Capital Management LP purchased a new stake in shares of Genworth Financial during the second quarter worth approximately $126,000. Shelton Capital Management purchased a new stake in shares of Genworth Financial during the second quarter worth approximately $140,000. Finally, LS Investment Advisors LLC raised its stake in shares of Genworth Financial by 18.0% during the second quarter. LS Investment Advisors LLC now owns 38,939 shares of the financial services provider’s stock worth $147,000 after purchasing an additional 5,936 shares during the last quarter. Institutional investors and hedge funds own 67.59% of the company’s stock.
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About Genworth Financial
Genworth Financial, Inc (Genworth) is a financial security company. The Company provides insurance, wealth management, investment and financial solutions. As of December 31, 2011, the Company had more than 15 million customers, with a presence in more than 25 countries. The Company operates in Insurance, Mortgage Insurance and Corporate and Runoff.
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