First Trust Advisors LP bought a new position in shares of Genworth Financial Inc. (NYSE:GNW) during the second quarter, Holdings Channel reports. The firm bought 122,794 shares of the company’s stock, valued at approximately $317,000.
Other large investors also recently added to or reduced their stakes in the company. State Treasurer State of Michigan raised its stake in 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 during the period. Mount Vernon Associates Inc. MD raised its stake in 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 during the period. Swiss National Bank raised its stake in Genworth Financial by 2.0% in the second quarter. Swiss National Bank now owns 821,386 shares of the company’s stock worth $2,119,000 after buying an additional 16,100 shares during the period. Quantitative Investment Management LLC raised its stake in Genworth Financial by 8.8% in the second quarter. Quantitative Investment Management LLC now owns 203,100 shares of the company’s stock worth $523,000 after buying an additional 16,400 shares during the period. Finally, Rafferty Asset Management LLC raised its position in Genworth Financial by 49.2% in the first quarter. Rafferty Asset Management LLC now owns 65,635 shares of the company’s stock worth $179,000 after buying an additional 21,630 shares during the last quarter. 71.89% of the stock is owned by institutional investors.
Shares of Genworth Financial Inc. (NYSE:GNW) traded up 0.40% on Friday, hitting $5.05. The stock had a trading volume of 6,393,044 shares. The company’s market cap is $2.52 billion. The company has a 50-day moving average of $4.93 and a 200-day moving average of $3.63. Genworth Financial Inc. has a 52-week low of $1.57 and a 52-week high of $5.36.
Genworth Financial (NYSE:GNW) last announced 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. The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.09 billion. Genworth Financial had a negative net margin of 4.24% and a positive return on equity of 1.32%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.24 earnings per share. On average, equities analysts anticipate that Genworth Financial Inc. will post $0.88 EPS for the current fiscal year.
A number of research analysts have commented on the company. Morgan Stanley reaffirmed a “neutral” rating on shares of Genworth Financial in a research report on Wednesday, August 3rd. Zacks Investment Research raised Genworth Financial from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 13th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $3.50 price target on shares of Genworth Financial in a research report on Monday, September 5th. Compass Point lowered Genworth Financial from a “buy” rating to a “neutral” rating in a research report on Monday, September 19th. Finally, BTIG Research lowered Genworth Financial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $5.75 to $1.57 in a research report on Wednesday, October 5th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $4.80.
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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