Genworth Financial Inc (GNW) Stock Rating Reaffirmed by Wells Fargo & Company
Genworth Financial Inc (NYSE:GNW)‘s stock had its “hold” rating reiterated by stock analysts at Wells Fargo & Company in a research report issued to clients and investors on Friday. They currently have a $3.75 price target on the financial services provider’s stock. Wells Fargo & Company’s price target would indicate a potential upside of 10.95% from the company’s previous close.
Several other analysts also recently issued reports on GNW. Zacks Investment Research downgraded shares of Genworth Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Off Wall Street began coverage on shares of Genworth Financial in a report on Monday, September 11th. They set a “buy” rating on the stock. BidaskClub downgraded shares of Genworth Financial from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. ValuEngine upgraded Genworth Financial from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Finally, BTIG Research restated a “neutral” rating on shares of Genworth Financial in a research note on Saturday, September 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $3.96.
Genworth Financial (NYSE:GNW) last released its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.05). Genworth Financial had a negative return on equity of 1.63% and a negative net margin of 1.66%. The firm had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.12 billion. During the same quarter in the previous year, the business posted ($0.81) EPS. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year.
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Institutional investors and hedge funds have recently modified their holdings of the business. NEXT Financial Group Inc boosted its stake in Genworth Financial by 0.5% in the second quarter. NEXT Financial Group Inc now owns 31,651 shares of the financial services provider’s stock worth $119,000 after buying an additional 151 shares in the last quarter. Bayesian Capital Management LP purchased a new stake in Genworth Financial in the second quarter worth approximately $126,000. Shelton Capital Management purchased a new stake in Genworth Financial in the second quarter worth approximately $140,000. LS Investment Advisors LLC boosted its stake in Genworth Financial by 18.0% in the second quarter. LS Investment Advisors LLC now owns 38,939 shares of the financial services provider’s stock worth $147,000 after buying an additional 5,936 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in Genworth Financial by 1.1% in the second quarter. Teacher Retirement System of Texas now owns 40,020 shares of the financial services provider’s stock worth $151,000 after buying an additional 418 shares in the last quarter. 67.62% of the stock is owned by institutional investors and hedge funds.
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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