Stock analysts at Off Wall Street assumed coverage on shares of Genworth Financial Inc (NYSE:GNW) in a research report issued to clients and investors on Monday. The firm set a “buy” rating on the financial services provider’s stock.
Other equities analysts have also recently issued reports about the company. Zacks Investment Research upgraded Genworth Financial from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a report on Tuesday, September 5th. ValuEngine upgraded Genworth Financial from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Wells Fargo & Company reiterated a “hold” rating on shares of Genworth Financial in a report on Tuesday, August 1st. Finally, BidaskClub upgraded Genworth Financial from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $4.27.
Genworth Financial (GNW) traded up 6.0377% during trading on Monday, reaching $3.6583. The company’s stock had a trading volume of 4,055,460 shares. The stock has a 50-day moving average price of $3.44 and a 200 day moving average price of $3.73. Genworth Financial has a 52-week low of $3.23 and a 52-week high of $5.27. The company’s market cap is $1.83 billion.
Genworth Financial (NYSE:GNW) last posted its earnings results on Tuesday, August 1st. The financial services provider reported $0.30 EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same period in the previous year, the business earned $0.39 earnings per share. The firm’s revenue was down .6% on a year-over-year basis. On average, analysts expect that Genworth Financial will post $1.03 EPS for the current year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in GNW. BlackRock Inc. raised its position in Genworth Financial by 9,605.2% during the 1st quarter. BlackRock Inc. now owns 48,718,954 shares of the financial services provider’s stock valued at $200,723,000 after purchasing an additional 48,216,968 shares during the last quarter. Southpoint Capital Advisors LP bought a new position in Genworth Financial during the 1st quarter valued at approximately $25,192,000. CNH Partners LLC raised its position in Genworth Financial by 67.1% during 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 purchasing an additional 3,129,795 shares during the last quarter. Vanguard Group Inc. raised its position in Genworth Financial by 7.0% during 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 purchasing an additional 2,745,057 shares during the last quarter. Finally, Prudential Financial Inc. raised its position in Genworth Financial by 35.1% during 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 purchasing an additional 1,406,640 shares during the last quarter. 67.59% of the stock is owned by institutional investors and hedge funds.
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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