Genworth Financial (GNW) Shares Down 5.6%

Genworth Financial Inc (NYSE:GNW) fell 5.6% during mid-day trading on Thursday . The stock traded as low as $3.01 and last traded at $3.05. 10,465,800 shares traded hands during mid-day trading, an increase of 25% from the average session volume of 8,381,949 shares. The stock had previously closed at $3.23.

Several brokerages recently issued reports on GNW. Zacks Investment Research upgraded shares of Genworth Financial from a “strong sell” rating to a “hold” rating in a report on Tuesday. ValuEngine cut shares of Genworth Financial from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Wells Fargo & Co reiterated a “hold” rating on shares of Genworth Financial in a research note on Wednesday, November 29th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $4.00 price target on shares of Genworth Financial in a research note on Tuesday, October 3rd. Finally, BTIG Research reiterated a “neutral” rating on shares of Genworth Financial in a research note on Saturday, September 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $3.92.

The stock has a market cap of $1,600.00, a P/E ratio of 4.52, a price-to-earnings-growth ratio of 0.72 and a beta of 2.81. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.28.

Genworth Financial (NYSE:GNW) last issued its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.05). The business had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.12 billion. Genworth Financial had a return on equity of 1.57% and a net margin of 3.88%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.81) EPS. equities research analysts forecast that Genworth Financial Inc will post 0.94 earnings per share for the current year.

Several institutional investors have recently modified their holdings of GNW. Southpoint Capital Advisors LP boosted its stake in shares of Genworth Financial by 63.5% during the 2nd quarter. Southpoint Capital Advisors LP now owns 10,000,000 shares of the financial services provider’s stock worth $37,700,000 after acquiring an additional 3,885,469 shares during the last quarter. CNH Partners LLC lifted its stake in shares of Genworth Financial by 67.1% during the 2nd quarter. CNH Partners LLC now owns 7,796,296 shares of the financial services provider’s stock valued at $29,392,000 after buying an additional 3,129,795 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Genworth Financial by 7.0% during the 2nd quarter. Vanguard Group Inc. now owns 41,753,927 shares of the financial services provider’s stock valued at $157,413,000 after buying an additional 2,745,057 shares in the last quarter. Prudential Financial Inc. lifted its stake in shares of Genworth Financial by 21.2% during the 3rd quarter. Prudential Financial Inc. now owns 6,637,723 shares of the financial services provider’s stock valued at $25,555,000 after buying an additional 1,162,720 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. purchased a new position in shares of Genworth Financial during the 3rd quarter valued at $3,519,000. Institutional investors and hedge funds own 66.70% of the company’s stock.

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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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