Genworth Financial Inc (NYSE:GNW) has been assigned a consensus rating of “Hold” from the ten research firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $3.86.
Several research firms have recently weighed in on GNW. BidaskClub cut Genworth Financial from a “sell” rating to a “strong sell” rating in a report on Friday. ValuEngine raised Genworth Financial from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Wells Fargo & Company reissued a “hold” rating on shares of Genworth Financial in a report on Tuesday, May 2nd. Zacks Investment Research cut Genworth Financial from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Finally, BTIG Research reissued a “neutral” rating on shares of Genworth Financial in a report on Wednesday, April 19th.
Large investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Genworth Financial by 9,605.2% in the first quarter. BlackRock Inc. now owns 48,718,954 shares of the financial services provider’s stock worth $200,723,000 after buying an additional 48,216,968 shares in the last quarter. Southpoint Capital Advisors LP acquired a new stake in Genworth Financial during the first quarter worth approximately $25,192,000. Norges Bank acquired a new stake in Genworth Financial during the fourth quarter worth approximately $18,730,000. Prudential Financial Inc. boosted its stake in Genworth Financial by 35.1% in the first quarter. Prudential Financial Inc. now owns 5,409,753 shares of the financial services provider’s stock worth $22,289,000 after buying an additional 1,406,640 shares in the last quarter. Finally, Saba Capital Management L.P. boosted its stake in Genworth Financial by 84.8% in the first quarter. Saba Capital Management L.P. now owns 2,588,820 shares of the financial services provider’s stock worth $10,666,000 after buying an additional 1,187,801 shares in the last quarter. 67.04% of the stock is currently owned by institutional investors and hedge funds.
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Genworth Financial (NYSE GNW) opened at 3.39 on Wednesday. The company’s market capitalization is $1.69 billion. The stock’s 50 day moving average price is $3.60 and its 200-day moving average price is $3.77. Genworth Financial has a 12 month low of $2.67 and a 12 month high of $5.27.
Genworth Financial (NYSE:GNW) last released its quarterly earnings results on Tuesday, May 2nd. The financial services provider reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.07. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.15 billion. Genworth Financial had a negative return on equity of 1.75% and a negative net margin of 2.00%. On average, equities research analysts predict that Genworth Financial will post $0.98 EPS for the current fiscal year.
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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