Genworth Financial Inc (NYSE:GNW) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, July 11th.
Several other research firms also recently weighed in on GNW. Zacks Investment Research downgraded shares of Genworth Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. ValuEngine raised shares of Genworth Financial from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. Wells Fargo & Company reaffirmed a “hold” rating on shares of Genworth Financial in a research report on Tuesday, May 2nd. Finally, BTIG Research reaffirmed 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 issued a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $4.17.
Genworth Financial (GNW) opened at 3.48 on Tuesday. The company’s market cap is $1.74 billion. Genworth Financial has a 52 week low of $3.23 and a 52 week high of $5.27. The company has a 50-day moving average price of $3.54 and a 200 day moving average price of $3.75.
Genworth Financial (NYSE:GNW) last released its earnings results on Tuesday, August 1st. The financial services provider reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.08. The business had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.14 billion. Genworth Financial had a negative net margin of 1.66% and a negative return on equity of 1.63%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the firm posted $0.39 earnings per share. On average, equities research analysts forecast that Genworth Financial will post $1.02 EPS for the current fiscal year.
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A number of hedge funds have recently bought and sold shares of GNW. Relative Value Partners Group LLC increased its stake in Genworth Financial by 55.7% in the first quarter. Relative Value Partners Group LLC now owns 25,150 shares of the financial services provider’s stock valued at $103,000 after buying an additional 9,000 shares in the last quarter. Atria Investments LLC increased its stake in Genworth Financial by 99.1% in the first quarter. Atria Investments LLC now owns 25,336 shares of the financial services provider’s stock valued at $104,000 after buying an additional 12,612 shares in the last quarter. Tiedemann Wealth Management LLC boosted its stake in shares of Genworth Financial by 72.0% in the first quarter. Tiedemann Wealth Management LLC now owns 26,041 shares of the financial services provider’s stock worth $107,000 after buying an additional 10,901 shares during the last quarter. NEXT Financial Group Inc boosted its stake in shares of Genworth Financial by 0.5% in the second quarter. NEXT Financial Group Inc now owns 31,651 shares of the financial services provider’s stock worth $119,000 after buying an additional 151 shares during the last quarter. Finally, Searle & CO. purchased a new stake in shares of Genworth Financial during the fourth quarter worth $133,000. 66.96% of the stock is owned by 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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