Off Wall Street assumed coverage on shares of Genworth Financial Inc (NYSE:GNW) in a research report sent to investors on Monday, The Fly reports. The brokerage issued a buy rating on the financial services provider’s stock.

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 note on Tuesday, July 4th. Wells Fargo & Company restated a hold rating on shares of Genworth Financial in a research note on Tuesday, August 1st. BidaskClub upgraded Genworth Financial from a sell rating to a hold rating in a research note on Saturday, July 1st. Finally, ValuEngine upgraded Genworth Financial from a sell rating to a hold rating in a research note on Friday, September 1st. 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 currently has an average rating of Hold and an average price target of $4.27.

Genworth Financial (NYSE:GNW) opened at 3.98 on Monday. The company has a 50-day moving average price of $3.50 and a 200 day moving average price of $3.73. Genworth Financial has a 12 month low of $3.23 and a 12 month high of $5.27. The company’s market capitalization is $1.99 billion.

Genworth Financial (NYSE:GNW) last released its quarterly earnings results on Tuesday, August 1st. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the company posted $0.39 EPS. On average, equities research analysts forecast that Genworth Financial will post $1.03 EPS for the current fiscal year.

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Large investors have recently added to or reduced their stakes in the company. Relative Value Partners Group LLC lifted its position in shares of Genworth Financial by 55.7% during the 1st quarter. Relative Value Partners Group LLC now owns 25,150 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 9,000 shares during the period. Tiedemann Wealth Management LLC lifted its position in shares of Genworth Financial by 72.0% during the 1st quarter. Tiedemann Wealth Management LLC now owns 26,041 shares of the financial services provider’s stock valued at $107,000 after acquiring an additional 10,901 shares during the period. NEXT Financial Group Inc lifted its position in shares of Genworth Financial by 0.5% during the 2nd quarter. NEXT Financial Group Inc now owns 31,651 shares of the financial services provider’s stock valued at $119,000 after acquiring an additional 151 shares during the period. Bayesian Capital Management LP bought a new stake in shares of Genworth Financial during the 2nd quarter valued at $126,000. Finally, Shelton Capital Management bought a new stake in shares of Genworth Financial during the 2nd quarter valued at $140,000. Hedge funds and other institutional investors own 67.59% of the company’s stock.

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.

The Fly

Analyst Recommendations for Genworth Financial (NYSE:GNW)

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