Genworth Financial (NYSE:GNW) Releases Quarterly Earnings Results, Misses Estimates By $0.14 EPS

Genworth Financial (NYSE:GNW) posted its earnings results on Monday. The financial services provider reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.14), FiscalAI reports. The firm had revenue of $1.04 billion for the quarter. Genworth Financial had a return on equity of 1.48% and a net margin of 3.05%.

Genworth Financial Stock Up 2.6%

Shares of GNW opened at $8.51 on Wednesday. Genworth Financial has a 12-month low of $5.99 and a 12-month high of $9.28. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $3.40 billion, a PE ratio of 16.18 and a beta of 1.01. The business’s 50 day moving average is $8.76 and its 200 day moving average is $8.69.

Institutional Investors Weigh In On Genworth Financial

Several large investors have recently added to or reduced their stakes in GNW. Headlands Technologies LLC bought a new stake in shares of Genworth Financial in the 2nd quarter valued at approximately $44,000. Larson Financial Group LLC lifted its position in Genworth Financial by 12,597.7% in the third quarter. Larson Financial Group LLC now owns 5,587 shares of the financial services provider’s stock worth $50,000 after buying an additional 5,543 shares during the last quarter. Danske Bank A S bought a new stake in Genworth Financial in the third quarter worth $60,000. EverSource Wealth Advisors LLC boosted its stake in Genworth Financial by 140.3% during the second quarter. EverSource Wealth Advisors LLC now owns 8,063 shares of the financial services provider’s stock worth $63,000 after buying an additional 4,708 shares during the period. Finally, Strs Ohio bought a new position in Genworth Financial during the first quarter valued at $82,000. 81.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on GNW shares. Wall Street Zen upgraded Genworth Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Weiss Ratings raised shares of Genworth Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 19th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $10.00.

About Genworth Financial

Genworth Financial (NYSE: GNW) is a leading financial security company offering a broad range of insurance products. Based in Richmond, Virginia, Genworth provides individuals and families with solutions designed to protect against long-term care expenses, secure life insurance needs and support homeownership through private mortgage insurance. With operations spanning the United States, Canada and Australia, the company serves both retail and institutional clients through a diversified portfolio of risk management services.

The company’s Private Mortgage Insurance (PMI) segment offers coverage to lenders and consumers in the US, Canada and Australia, enabling homebuyers to purchase properties with lower down payments.