Genworth Financial Inc (GNW) Downgraded by BidaskClub to “Strong Sell”

Genworth Financial Inc (NYSE:GNW) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Wednesday.

GNW has been the topic of a number of other research reports. ValuEngine raised Genworth Financial from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. Zacks Investment Research raised Genworth Financial from a “hold” rating to a “buy” rating and set a $4.25 price objective on the stock in a research note on Thursday, May 4th. BTIG Research reissued a “neutral” rating on shares of Genworth Financial in a research note on Wednesday, April 19th. Finally, Wells Fargo & Company reissued a “hold” rating on shares of Genworth Financial in a research note on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $4.17.

Shares of Genworth Financial (GNW) opened at 3.42 on Wednesday. The firm has a 50-day moving average price of $3.51 and a 200 day moving average price of $3.75. Genworth Financial has a 12-month low of $3.22 and a 12-month high of $5.27. The firm’s market cap is $1.71 billion.

Genworth Financial (NYSE:GNW) last posted its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $0.30 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.08. Genworth Financial had a negative return on equity of 1.63% and a negative net margin of 1.66%. The company had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the previous year, the business earned $0.39 EPS. The company’s quarterly revenue was down .6% compared to the same quarter last year. On average, equities research analysts anticipate that Genworth Financial will post $1.03 earnings per share for the current fiscal year.

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Large investors have recently made changes to their positions in the company. Relative Value Partners Group LLC raised its stake in shares of 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 worth $103,000 after buying an additional 9,000 shares during the period. Atria Investments LLC raised its stake in shares of Genworth Financial by 99.1% in the first quarter. Atria Investments LLC now owns 25,336 shares of the financial services provider’s stock worth $104,000 after buying an additional 12,612 shares during the period. Tiedemann Wealth Management LLC raised 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 period. NEXT Financial Group Inc raised 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 period. Finally, Bayesian Capital Management LP bought a new stake in shares of Genworth Financial during the second quarter worth about $126,000. 66.17% of the stock is currently owned by institutional investors.

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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