Equities researchers at Off Wall Street initiated coverage on shares of Genworth Financial Inc (NYSE:GNW) in a note issued to investors on Monday. The firm set a “buy” rating on the financial services provider’s stock.
GNW has been the subject of a number of other research reports. ValuEngine raised shares of Genworth Financial from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. BidaskClub lowered shares of Genworth Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Zacks Investment Research raised shares of Genworth Financial from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a report on Tuesday, September 5th. Finally, Wells Fargo & Company reaffirmed a “hold” rating on shares of Genworth Financial in a report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. Genworth Financial has an average rating of “Hold” and an average target price of $4.27.
Shares of Genworth Financial (NYSE GNW) opened at 3.97 on Monday. The stock’s 50 day moving average price is $3.45 and its 200-day moving average price is $3.73. Genworth Financial has a 12 month low of $3.23 and a 12 month high of $5.27. The firm’s market cap is $1.98 billion.
Genworth Financial (NYSE:GNW) last released its earnings results on Tuesday, August 1st. The financial services provider reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.08. Genworth Financial had a negative net margin of 1.66% and a negative return on equity of 1.63%. The firm had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the previous year, the business earned $0.39 EPS. The business’s quarterly revenue was down .6% compared to the same quarter last year. Equities research analysts anticipate that Genworth Financial will post $1.03 earnings per share for the current fiscal year.
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Several hedge funds have recently made changes to their positions in GNW. BlackRock Inc. grew its holdings in shares of Genworth Financial by 9,605.2% in the 1st quarter. BlackRock Inc. now owns 48,718,954 shares of the financial services provider’s stock valued at $200,723,000 after buying an additional 48,216,968 shares during the period. Southpoint Capital Advisors LP acquired a new position in shares of Genworth Financial in the 1st quarter valued at $25,192,000. CNH Partners LLC grew its holdings in shares of Genworth Financial by 67.1% in the 2nd quarter. CNH Partners LLC now owns 7,796,296 shares of the financial services provider’s stock valued at $29,392,000 after buying an additional 3,129,795 shares during the period. Vanguard Group Inc. grew its holdings in shares of Genworth Financial by 7.0% in the 2nd quarter. Vanguard Group Inc. now owns 41,753,927 shares of the financial services provider’s stock valued at $157,413,000 after buying an additional 2,745,057 shares during the period. Finally, Prudential Financial Inc. grew its holdings in shares of Genworth Financial by 35.1% in the 1st quarter. Prudential Financial Inc. now owns 5,409,753 shares of the financial services provider’s stock valued at $22,289,000 after buying an additional 1,406,640 shares during the period. 67.59% of the stock is owned by institutional investors.
Genworth Financial Company Profile
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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