Genworth Financial Inc. (GNW) Stock Price Down 1.8%
Genworth Financial Inc. (NYSE:GNW) shares fell 1.8% during mid-day trading on Monday . The company traded as low as $4.81 and last traded at $4.87, with a volume of 5,490,110 shares changing hands. The stock had previously closed at $4.96.
A number of research firms recently issued reports on GNW. Morgan Stanley reaffirmed a “neutral” rating on shares of Genworth Financial in a report on Wednesday, August 3rd. Zacks Investment Research raised Genworth Financial from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 13th. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Genworth Financial in a report on Wednesday, August 3rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $3.50 price target on shares of Genworth Financial in a report on Monday, September 5th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $5.00 price target on shares of Genworth Financial in a report on Thursday, August 4th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $5.46.
The company has a 50 day moving average price of $4.26 and a 200 day moving average price of $3.37. The stock’s market capitalization is $2.43 billion.
Genworth Financial (NYSE:GNW) last released its earnings results on Tuesday, August 2nd. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.04. The company had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.09 billion. Genworth Financial had a positive return on equity of 1.32% and a negative net margin of 4.24%. Genworth Financial’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.24 EPS. Equities research analysts anticipate that Genworth Financial Inc. will post $0.88 EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in GNW. Mason Street Advisors LLC bought a new stake in Genworth Financial during the second quarter valued at about $586,000. Schwab Charles Investment Management Inc. raised its stake in Genworth Financial by 60.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,462,785 shares of the company’s stock valued at $6,354,000 after buying an additional 924,308 shares during the period. Amalgamated Bank raised its stake in Genworth Financial by 3.6% in the second quarter. Amalgamated Bank now owns 62,410 shares of the company’s stock valued at $221,000 after buying an additional 2,166 shares during the period. Legal & General Group Plc raised its stake in Genworth Financial by 43.9% in the second quarter. Legal & General Group Plc now owns 2,155,836 shares of the company’s stock valued at $5,567,000 after buying an additional 657,736 shares during the period. Finally, Metropolitan Life Insurance Co. NY raised its stake in Genworth Financial by 81.5% in the second quarter. Metropolitan Life Insurance Co. NY now owns 818,810 shares of the company’s stock valued at $2,113,000 after buying an additional 367,636 shares during the period. 71.74% of the stock is currently 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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