BTIG Research downgraded shares of Genworth Financial Inc. (NYSE:GNW) from a buy rating to a neutral rating in a research report sent to investors on Wednesday. BTIG Research currently has $1.57 target price on the stock, down from their previous target price of $5.75.
GNW has been the topic of several other reports. Morgan Stanley reiterated a neutral rating on shares of Genworth Financial in a research report on Wednesday, August 3rd. Zacks Investment Research upgraded shares of Genworth Financial from a strong sell rating to a hold rating in a research report on Wednesday, July 13th. Keefe, Bruyette & Woods reiterated a market perform rating and issued a $3.50 price objective on shares of Genworth Financial in a research report on Monday, September 5th. Compass Point downgraded shares of Genworth Financial from a buy rating to a neutral rating in a research report on Monday, September 19th. Finally, Goldman Sachs Group Inc. lifted their price objective on shares of Genworth Financial from $3.00 to $4.00 and gave the company a neutral rating in a research report on Friday, September 23rd. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $4.80.
Shares of Genworth Financial (NYSE:GNW) opened at 5.10 on Wednesday. The company’s 50-day moving average is $4.79 and its 200-day moving average is $3.55. Genworth Financial has a 12 month low of $1.57 and a 12 month high of $5.54. The firm’s market cap is $2.54 billion.
Genworth Financial (NYSE:GNW) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 earned $2.24 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same period in the previous year, the business posted $0.24 EPS. The company’s quarterly revenue was up 3.7% on a year-over-year basis. On average, equities research analysts forecast that Genworth Financial will post $0.88 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the company. Eqis Capital Management Inc. bought a new stake in Genworth Financial during the third quarter worth approximately $3,707,000. Mason Street Advisors LLC bought a new stake in Genworth Financial during the second quarter worth approximately $586,000. Schwab Charles Investment Management Inc. increased its stake in Genworth Financial by 60.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,462,785 shares of the company’s stock worth $6,354,000 after buying an additional 924,308 shares during the period. Amalgamated Bank increased its stake in 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 during the period. Finally, Legal & General Group Plc increased its stake in Genworth Financial by 43.9% in the second quarter. Legal & General Group Plc now owns 2,155,836 shares of the company’s stock worth $5,567,000 after buying an additional 657,736 shares during the period. Institutional investors own 71.89% 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.
Receive News & Ratings for Genworth Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genworth Financial Inc. and related companies with MarketBeat.com's FREE daily email newsletter.