Genworth Financial (GNW) Debt Trading 0.8% Lower
An issue of Genworth Financial Inc (NYSE:GNW) debt fell 0.8% as a percentage of its face value during trading on Wednesday. The high-yield issue of debt has a 7.625% coupon and is set to mature on September 24, 2021. The debt is now trading at $96.97. Price moves in a company’s debt in credit markets often predict parallel moves in its stock price.
GNW has been the topic of several analyst reports. Off Wall Street started coverage on shares of Genworth Financial in a report on Monday, September 11th. They set a “buy” rating on the stock. BTIG Research reissued a “neutral” rating on shares of Genworth Financial in a report on Saturday, September 16th. Wells Fargo & Co reaffirmed a “hold” rating on shares of Genworth Financial in a report on Monday, October 2nd. ValuEngine raised shares of Genworth Financial from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Zacks Investment Research cut shares of Genworth Financial from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. Genworth Financial presently has a consensus rating of “Hold” and an average price target of $3.92.
Genworth Financial Inc (NYSE GNW) opened at $3.15 on Friday. Genworth Financial Inc has a 1 year low of $3.01 and a 1 year high of $4.23. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.28 and a quick ratio of 0.28. The firm has a market cap of $1,522.43, a price-to-earnings ratio of 4.70, a P/E/G ratio of 0.72 and a beta of 2.82.
Genworth Financial (NYSE:GNW) last issued its earnings results on Thursday, November 2nd. The financial services provider reported $0.15 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.05). The company 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%. Genworth Financial’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.81) earnings per share. equities analysts anticipate that Genworth Financial Inc will post 0.94 earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in GNW. Comerica Bank raised its stake in Genworth Financial by 0.6% in the 2nd quarter. Comerica Bank now owns 399,185 shares of the financial services provider’s stock valued at $1,365,000 after purchasing an additional 2,511 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in Genworth Financial by 4.1% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 65,664 shares of the financial services provider’s stock valued at $248,000 after purchasing an additional 2,593 shares during the last quarter. Principal Financial Group Inc. raised its stake in Genworth Financial by 3.6% in the 2nd quarter. Principal Financial Group Inc. now owns 2,102,128 shares of the financial services provider’s stock valued at $7,925,000 after purchasing an additional 73,592 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in Genworth Financial by 16.3% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 72,926 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 10,200 shares during the last quarter. Finally, Systematic Financial Management LP raised its stake in Genworth Financial by 13.1% in the 2nd quarter. Systematic Financial Management LP now owns 455,450 shares of the financial services provider’s stock valued at $1,717,000 after purchasing an additional 52,665 shares during the last quarter. 66.70% of the stock is owned by hedge funds and other institutional investors.
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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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