Genworth Financial Inc (GNW) Upgraded by BidaskClub to “Sell”
Genworth Financial Inc (NYSE:GNW) was upgraded by BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Wednesday.
Several other research firms also recently issued reports on GNW. Zacks Investment Research downgraded Genworth Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Wells Fargo & Company restated a “hold” rating on shares of Genworth Financial in a research report on Tuesday, August 1st. ValuEngine upgraded Genworth Financial from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. Finally, BTIG Research restated a “neutral” rating on shares of Genworth Financial in a research report on Wednesday, April 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $4.17.
Genworth Financial (GNW) opened at 3.665 on Wednesday. Genworth Financial has a 52 week low of $3.23 and a 52 week high of $5.27. The stock’s 50 day moving average price is $3.55 and its 200-day moving average price is $3.76. 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.08. The firm had revenue of $2.22 billion for 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%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.39 earnings per share. On average, equities research analysts forecast that Genworth Financial will post $1.02 earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Genworth Financial by 9,605.2% in the first 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 last quarter. State Street Corp boosted its position in Genworth Financial by 4.8% in the first quarter. State Street Corp now owns 22,984,009 shares of the financial services provider’s stock valued at $94,689,000 after buying an additional 1,047,155 shares during the last quarter. FMR LLC boosted its position in Genworth Financial by 6.8% in the first quarter. FMR LLC now owns 17,256,792 shares of the financial services provider’s stock valued at $71,098,000 after buying an additional 1,096,921 shares during the last quarter. Southpoint Capital Advisors LP purchased a new position in Genworth Financial during the first quarter valued at $25,192,000. Finally, Bank of New York Mellon Corp boosted its position in Genworth Financial by 4.6% in the first quarter. Bank of New York Mellon Corp now owns 5,983,450 shares of the financial services provider’s stock valued at $24,653,000 after buying an additional 261,744 shares during the last quarter. 66.96% of the stock is currently owned by hedge funds and other institutional investors.
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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