Genworth Financial Inc (GNW) Reaches New 52-Week Low at $3.21
Genworth Financial Inc (NYSE:GNW) shares hit a new 52-week low during trading on Monday . The company traded as low as $3.21 and last traded at $3.37, with a volume of 20,191,865 shares changing hands. The stock had previously closed at $3.85.
Several equities research analysts recently weighed in on the company. Zacks Investment Research downgraded Genworth Financial from a “buy” rating to a “hold” rating in a report on Tuesday. Wells Fargo & Company reaffirmed a “hold” rating on shares of Genworth Financial in a report on Tuesday, August 1st. BTIG Research reaffirmed a “neutral” rating on shares of Genworth Financial in a report on Saturday, September 16th. BidaskClub upgraded Genworth Financial from a “sell” rating to a “hold” rating in a research report on Saturday, July 1st. Finally, ValuEngine upgraded Genworth Financial from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $4.27.
The firm’s market cap is $1.74 billion. The company has a 50-day moving average price of $3.62 and a 200 day moving average price of $3.70.
Genworth Financial (NYSE:GNW) last announced its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ 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 net margin of 1.66% and a negative return on equity of 1.63%. The firm’s revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.39 EPS. Equities research analysts forecast that Genworth Financial Inc will post $1.03 EPS for the current year.
Large investors have recently made changes to their positions in the company. NEXT Financial Group Inc increased its holdings in shares of Genworth Financial by 0.5% in the second quarter. NEXT Financial Group Inc now owns 31,651 shares of the financial services provider’s stock worth $119,000 after buying an additional 151 shares during the period. Bayesian Capital Management LP purchased a new stake in Genworth Financial during the 2nd quarter valued at about $126,000. Shelton Capital Management purchased a new stake in Genworth Financial during the 2nd quarter valued at about $140,000. LS Investment Advisors LLC boosted its holdings in Genworth Financial by 18.0% during the 2nd quarter. LS Investment Advisors LLC now owns 38,939 shares of the financial services provider’s stock valued at $147,000 after acquiring an additional 5,936 shares during the period. Finally, Teacher Retirement System of Texas boosted its holdings in Genworth Financial by 1.1% during the 2nd quarter. Teacher Retirement System of Texas now owns 40,020 shares of the financial services provider’s stock valued at $151,000 after acquiring an additional 418 shares during the period. 67.61% of the stock is currently owned by hedge funds and other institutional investors.
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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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