An issue of Genworth Financial Inc. (NYSE:GNW) bonds fell 1% as a percentage of their face value during trading on Friday. The debt issue has a 6.515% coupon and is set to mature on May 22, 2018. The debt is now trading at $102.00 and was trading at $102.32 last week. Price changes in a company’s bonds in credit markets often anticipate parallel changes in its stock price.
A number of research firms have issued reports on GNW. BTIG Research reaffirmed a “buy” rating and issued a $5.00 price target on shares of Genworth Financial in a report on Thursday, August 4th. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Genworth Financial in a report on Wednesday, August 3rd. Zacks Investment Research raised shares of Genworth Financial from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 13th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $3.50 price target on shares of Genworth Financial in a report on Monday, September 5th. Finally, Wells Fargo & Co. began coverage on shares of Genworth Financial in a report on Friday, September 23rd. They issued a “market perform” rating for the company. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $5.54.
Genworth Financial Inc. (NYSE:GNW) opened at 4.96 on Friday. Genworth Financial Inc. has a one year low of $1.57 and a one year high of $5.75. The stock’s market cap is $2.47 billion. The company’s 50 day moving average is $4.60 and its 200 day moving average is $3.48.
Genworth Financial (NYSE:GNW) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. Genworth Financial had a negative net margin of 4.24% and a positive return on equity of 1.32%. The business had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same period in the previous year, the business earned $0.24 earnings per share. The company’s revenue was up 3.7% on a year-over-year basis. On average, equities research analysts expect that Genworth Financial Inc. will post $0.88 EPS for the current year.
Several large investors have recently modified their holdings of GNW. Amalgamated Bank boosted its stake in shares of Genworth Financial by 3.6% in the second quarter. Amalgamated Bank now owns 62,410 shares of the company’s stock worth $221,000 after buying an additional 2,166 shares in the last quarter. State Treasurer State of Michigan boosted its stake in shares of Genworth Financial by 1.4% in the second quarter. State Treasurer State of Michigan now owns 254,862 shares of the company’s stock worth $658,000 after buying an additional 3,400 shares in the last quarter. Brown Advisory Inc. boosted its stake in shares of Genworth Financial by 1.1% in the second quarter. Brown Advisory Inc. now owns 339,678 shares of the company’s stock worth $876,000 after buying an additional 3,829 shares in the last quarter. Mount Vernon Associates Inc. MD boosted its stake in shares of Genworth Financial by 3.7% in the second quarter. Mount Vernon Associates Inc. MD now owns 109,100 shares of the company’s stock worth $281,000 after buying an additional 3,900 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in shares of Genworth Financial by 8.2% in the second quarter. Teacher Retirement System of Texas now owns 68,879 shares of the company’s stock worth $178,000 after buying an additional 5,230 shares in the last quarter. Institutional investors and hedge funds own 71.74% of the company’s stock.
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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