Genworth Financial Inc (GNW) Stock Rating Reaffirmed by BTIG Research
Several other research analysts have also recently weighed in on GNW. BidaskClub upgraded Genworth Financial from a strong sell rating to a sell rating in a research report on Wednesday, August 9th. ValuEngine raised Genworth Financial from a sell rating to a hold rating in a report on Tuesday, June 27th. Wells Fargo & Company reissued a hold rating on shares of Genworth Financial in a report on Tuesday, August 1st. Finally, Zacks Investment Research lowered Genworth Financial from a buy rating to a hold rating in a report on Tuesday, July 4th. One investment 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’s stock. The stock currently has an average rating of Hold and an average target price of $4.27.
Genworth Financial (GNW) opened at 3.93 on Friday. The company’s market capitalization is $1.96 billion. The company’s 50 day moving average price is $3.55 and its 200-day moving average price is $3.72. Genworth Financial has a 52 week low of $3.23 and a 52 week high of $5.27.
Genworth Financial (NYSE:GNW) last announced its quarterly earnings results on Tuesday, August 1st. The financial services provider reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.08. The company had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.14 billion. Genworth Financial had a negative return on equity of 1.63% and a negative net margin of 1.66%. Genworth Financial’s quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the business earned $0.39 earnings per share. Equities research analysts expect that Genworth Financial will post $1.03 earnings per share for the current year.
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A number of institutional investors and hedge funds have recently modified their holdings of the business. Fondren Management LP acquired a new stake in Genworth Financial in the second quarter valued at approximately $189,000. Capital Returns Management LLC acquired a new stake in Genworth Financial in the second quarter valued at approximately $2,793,000. Cetera Investment Advisers grew its holdings in Genworth Financial by 59.6% in the second quarter. Cetera Investment Advisers now owns 84,730 shares of the financial services provider’s stock valued at $320,000 after purchasing an additional 31,655 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Genworth Financial by 1.1% in the second quarter. The Manufacturers Life Insurance Company now owns 1,107,745 shares of the financial services provider’s stock valued at $4,176,000 after purchasing an additional 11,670 shares during the period. Finally, Alpine Global Management LLC grew its holdings in Genworth Financial by 153.3% in the second quarter. Alpine Global Management LLC now owns 253,526 shares of the financial services provider’s stock valued at $956,000 after purchasing an additional 153,426 shares during the period. 67.59% of the stock is currently owned by institutional investors.
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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