Genworth Financial Inc (GNW) Cut to Strong Sell at BidaskClub
BidaskClub lowered shares of Genworth Financial Inc (NYSE:GNW) from a sell rating to a strong sell rating in a report released on Friday.
GNW has been the subject of several other research reports. BTIG Research reaffirmed a neutral rating on shares of Genworth Financial in a research note on Wednesday, April 19th. Wells Fargo & Company reaffirmed a hold rating on shares of Genworth Financial in a research note on Tuesday, May 2nd. ValuEngine raised shares of Genworth Financial from a sell rating to a hold rating in a research note on Tuesday, June 27th. Finally, Zacks Investment Research raised shares of Genworth Financial from a hold rating to a buy rating and set a $4.25 target price for the company in a research note on Thursday, May 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. Genworth Financial has a consensus rating of Hold and an average target price of $4.17.
Shares of Genworth Financial (NYSE GNW) traded down 1.020% during midday trading on Friday, reaching $3.395. 1,201,967 shares of the company were exchanged. Genworth Financial has a 52 week low of $2.67 and a 52 week high of $5.27. The firm has a 50-day moving average of $3.59 and a 200 day moving average of $3.77. The firm’s market capitalization is $1.69 billion.
Genworth Financial (NYSE:GNW) last announced its earnings results on Tuesday, May 2nd. The financial services provider reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.07. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.15 billion. Genworth Financial had a negative net margin of 2.00% and a negative return on equity of 1.75%. On average, equities research analysts expect that Genworth Financial will post $0.98 EPS for the current year.
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Several hedge funds and other institutional investors have recently bought and sold shares of GNW. BlackRock Inc. raised its position in Genworth Financial by 9,605.2% in the first quarter. BlackRock Inc. now owns 48,718,954 shares of the financial services provider’s stock valued at $200,723,000 after buying an additional 48,216,968 shares during the last quarter. State Street Corp raised its position in Genworth Financial by 4.8% in the first quarter. State Street Corp now owns 22,984,009 shares of the financial services provider’s stock valued at $94,689,000 after buying an additional 1,047,155 shares during the last quarter. FMR LLC raised its position in Genworth Financial by 6.8% in the first quarter. FMR LLC now owns 17,256,792 shares of the financial services provider’s stock valued at $71,098,000 after buying an additional 1,096,921 shares during the last quarter. Southpoint Capital Advisors LP acquired a new position in Genworth Financial during the first quarter valued at approximately $25,192,000. Finally, Bank of New York Mellon Corp raised its position in Genworth Financial by 4.6% in the first quarter. Bank of New York Mellon Corp now owns 5,983,450 shares of the financial services provider’s stock valued at $24,653,000 after buying an additional 261,744 shares during the last quarter. 67.01% of the stock is owned by institutional investors and hedge funds.
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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