Genworth Financial (GNW) Receives Hold Rating from BTIG Research
Genworth Financial (NYSE:GNW)‘s stock had its “hold” rating reiterated by equities research analysts at BTIG Research in a report issued on Thursday.
The analysts wrote, “Hosting a Call Following Release of 4Q17 Report? With the fate of its deal to be acquired by China Oceanwide (952 HK, Not Rated) caught in regulatory limbo and a $600mm debt maturity looming on May 22, Genworth Financial (GNW) is set to release its 4Q17 report today after the market close. What has many investors buzzing, however, is the conference call that GNW management has scheduled for tomorrow at 9am ET.””
Several other analysts have also recently commented on the company. Zacks Investment Research upgraded Genworth Financial from a “hold” rating to a “buy” rating and set a $3.50 price target for the company in a research report on Wednesday, January 10th. ValuEngine cut Genworth Financial from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, Wells Fargo & Co reiterated a “hold” rating on shares of Genworth Financial in a research report on Wednesday, November 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Genworth Financial has a consensus rating of “Hold” and a consensus target price of $3.75.
Genworth Financial (NYSE:GNW) last posted its quarterly earnings data on Tuesday, February 6th. The financial services provider reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.45. Genworth Financial had a return on equity of 4.66% and a net margin of 9.85%. The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the previous year, the business earned ($0.27) earnings per share. The business’s revenue was down 23.3% compared to the same quarter last year. sell-side analysts anticipate that Genworth Financial will post 0.9 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GNW. Vanguard Group Inc. boosted its stake in Genworth Financial by 7.0% during the second quarter. Vanguard Group Inc. now owns 41,753,927 shares of the financial services provider’s stock worth $157,413,000 after buying an additional 2,745,057 shares during the last quarter. Prudential Financial Inc. boosted its stake in Genworth Financial by 21.2% during the third quarter. Prudential Financial Inc. now owns 6,637,723 shares of the financial services provider’s stock worth $25,555,000 after buying an additional 1,162,720 shares during the last quarter. Amundi Pioneer Asset Management Inc. acquired a new position in Genworth Financial during the third quarter worth $3,519,000. Capital Returns Management LLC acquired a new position in Genworth Financial during the second quarter worth $2,793,000. Finally, Litespeed Management L.L.C. boosted its stake in Genworth Financial by 18.0% during the third quarter. Litespeed Management L.L.C. now owns 3,435,094 shares of the financial services provider’s stock worth $13,225,000 after buying an additional 525,000 shares during the last quarter. 66.66% of the stock is currently owned by institutional investors.
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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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