Genworth Financial Inc. (GNW) Sees Large Volume Increase
Genworth Financial Inc. (NYSE:GNW) saw unusually-strong trading volume on Friday . Approximately 10,688,525 shares traded hands during trading, an increase of 23% from the previous session’s volume of 8,723,902 shares.The stock last traded at $4.60 and had previously closed at $4.40.
Several equities analysts have weighed in on GNW shares. Zacks Investment Research cut shares of Genworth Financial from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 5th. BTIG Research reiterated a “buy” rating and set a $5.00 price objective on shares of Genworth Financial in a research report on Thursday, August 4th. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Genworth Financial in a research report on Wednesday, August 3rd. Compass Point lowered their price objective on shares of Genworth Financial from $5.50 to $5.25 and set a “buy” rating on the stock in a research report on Thursday, May 5th. Finally, Morgan Stanley reiterated a “neutral” rating on shares of Genworth Financial in a research report on Wednesday, August 3rd. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $5.84.
The stock’s 50 day moving average is $3.30 and its 200-day moving average is $3.03. The firm’s market capitalization is $2.30 billion.
Genworth Financial (NYSE:GNW) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.04. The business earned $2.24 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the prior year, the company earned $0.24 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. On average, equities research analysts forecast that Genworth Financial Inc. will post $0.88 earnings per share for the current year.
A hedge fund recently raised its stake in Genworth Financial stock. BlackRock Advisors LLC raised its stake in shares of Genworth Financial Inc. (NYSE:GNW) by 1.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,381,415 shares of the company’s stock after buying an additional 121,738 shares during the period. BlackRock Advisors LLC owned approximately 1.28% of Genworth Financial worth $23,803,000 as of its most recent SEC filing.
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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