Other equities research analysts have also recently issued reports about the company. BTIG Research reiterated a buy rating and issued a $5.00 price target on shares of Genworth Financial in a research note on Thursday, August 4th. JPMorgan Chase & Co. reiterated a hold rating on shares of Genworth Financial in a research note on Wednesday, August 3rd. Zacks Investment Research upgraded Genworth Financial from a strong sell rating to a hold rating in a research note on Wednesday, July 13th. Keefe, Bruyette & Woods reiterated a market perform rating and issued a $3.50 price target on shares of Genworth Financial in a research note on Monday, September 5th. Finally, Wells Fargo & Co. initiated coverage on Genworth Financial in a research note on Friday, September 23rd. They issued a market perform rating for the company. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $5.54.
Shares of Genworth Financial (NYSE:GNW) opened at 4.96 on Friday. Genworth Financial has a 1-year low of $1.57 and a 1-year high of $5.75. The stock’s 50 day moving average price is $4.52 and its 200 day moving average price is $3.45. The company’s market cap is $2.47 billion.
Genworth Financial (NYSE:GNW) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.04. The business earned $2.24 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Genworth Financial had a positive return on equity of 1.32% and a negative net margin of 4.24%. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 earnings per share. Equities research analysts forecast that Genworth Financial will post $0.88 earnings per share for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in GNW. Solus Alternative Asset Management LP increased its position in shares of Genworth Financial by 57.6% in the first quarter. Solus Alternative Asset Management LP now owns 15,000,000 shares of the company’s stock valued at $40,950,000 after buying an additional 5,483,200 shares during the period. Norges Bank bought a new position in shares of Genworth Financial during the fourth quarter valued at about $17,449,000. BlackRock Fund Advisors increased its position in shares of Genworth Financial by 26.0% in the second quarter. BlackRock Fund Advisors now owns 20,472,445 shares of the company’s stock valued at $52,819,000 after buying an additional 4,223,090 shares during the period. State Street Corp increased its position in shares of Genworth Financial by 16.9% in the second quarter. State Street Corp now owns 21,007,742 shares of the company’s stock valued at $54,201,000 after buying an additional 3,035,196 shares during the period. Finally, Emerald Acquisition Ltd. bought a new position in shares of Genworth Financial during the second quarter valued at about $5,857,000. Institutional investors own 71.74% of the company’s stock.
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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