Cutler Capital Management LLC Takes Position in Genworth Financial Inc (GNW)
Cutler Capital Management LLC bought a new position in Genworth Financial Inc (NYSE:GNW) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 160,000 shares of the financial services provider’s stock, valued at approximately $616,000.
A number of other hedge funds have also recently modified their holdings of GNW. Bayesian Capital Management LP bought a new position in shares of Genworth Financial during the second quarter valued at $126,000. Shelton Capital Management acquired a new stake in shares of Genworth Financial in the second quarter valued at $140,000. LS Investment Advisors LLC increased its stake in shares of Genworth Financial by 18.0% in the second quarter. LS Investment Advisors LLC now owns 38,939 shares of the financial services provider’s stock valued at $147,000 after buying an additional 5,936 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of Genworth Financial by 1.1% in the second quarter. Teacher Retirement System of Texas now owns 40,020 shares of the financial services provider’s stock valued at $151,000 after buying an additional 418 shares in the last quarter. Finally, Fondren Management LP acquired a new stake in shares of Genworth Financial in the second quarter valued at $189,000. 66.84% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently weighed in on GNW shares. BidaskClub upgraded Genworth Financial from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 9th. ValuEngine upgraded Genworth Financial from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research upgraded Genworth Financial from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a research note on Tuesday, September 5th. Off Wall Street started coverage on Genworth Financial in a research note on Monday, September 11th. They issued a “buy” rating for the company. Finally, BTIG Research reiterated a “neutral” rating on shares of Genworth Financial in a research report on Saturday, September 16th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $3.92.
Shares of Genworth Financial Inc (NYSE:GNW) traded down $0.05 during mid-day trading on Thursday, reaching $3.35. The company had a trading volume of 3,991,400 shares, compared to its average volume of 5,275,777. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.28 and a current ratio of 0.28. The firm has a market capitalization of $1,697.14, a price-to-earnings ratio of 7.23, a price-to-earnings-growth ratio of 0.73 and a beta of 2.80. Genworth Financial Inc has a 1 year low of $3.12 and a 1 year high of $4.40.
Genworth Financial (NYSE:GNW) last announced its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.05). The firm had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.12 billion. Genworth Financial had a return on equity of 1.57% and a net margin of 3.88%. Genworth Financial’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.81) earnings per share. analysts expect that Genworth Financial Inc will post 0.94 EPS for the current year.
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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