Genworth Financial Inc (GNW) Receives $4.03 Average Target Price from Analysts

Shares of Genworth Financial Inc (NYSE:GNW) have been given an average rating of “Hold” by the seven research firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $4.03.

A number of research firms recently weighed in on GNW. ValuEngine upgraded Genworth Financial from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. BidaskClub downgraded Genworth Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Zacks Investment Research upgraded Genworth Financial from a “hold” rating to a “buy” rating and set a $4.00 price target for the company 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.

Institutional investors have recently modified their holdings of the business. Oppenheimer & Co. Inc. grew its holdings in Genworth Financial by 17.8% during the 1st quarter. Oppenheimer & Co. Inc. now owns 62,726 shares of the financial services provider’s stock worth $258,000 after acquiring an additional 9,495 shares during the period. Geode Capital Management LLC grew its holdings in Genworth Financial by 8.6% during the 1st quarter. Geode Capital Management LLC now owns 3,909,751 shares of the financial services provider’s stock worth $16,108,000 after acquiring an additional 309,296 shares during the period. OMERS ADMINISTRATION Corp grew its holdings in Genworth Financial by 1.6% during the 2nd quarter. OMERS ADMINISTRATION Corp now owns 2,890,200 shares of the financial services provider’s stock worth $10,896,000 after acquiring an additional 45,500 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in Genworth Financial by 29.5% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 48,181 shares of the financial services provider’s stock worth $199,000 after acquiring an additional 10,972 shares during the period. Finally, Gotham Asset Management LLC grew its holdings in Genworth Financial by 37.0% during the 1st quarter. Gotham Asset Management LLC now owns 86,934 shares of the financial services provider’s stock worth $358,000 after acquiring an additional 23,470 shares during the period. Hedge funds and other institutional investors own 67.59% of the company’s stock.

Shares of Genworth Financial (NYSE:GNW) traded up 0.58% during midday trading on Thursday, hitting $3.45. The company had a trading volume of 4,356,125 shares. The stock’s market capitalization is $1.72 billion. The stock’s 50-day moving average price is $3.44 and its 200-day moving average price is $3.73. Genworth Financial has a one year low of $3.23 and a one year high of $5.27.

Genworth Financial (NYSE:GNW) last posted 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. The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate 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 in the prior year, the business posted $0.39 earnings per share. Analysts predict that Genworth Financial will post $1.03 EPS for the current year.

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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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