Genworth Financial Inc (GNW) Research Coverage Started at Wells Fargo & Co.
Wells Fargo & Co. started coverage on shares of Genworth Financial Inc (NYSE:GNW) in a note issued to investors on Friday, StockTargetPrices.com reports. The firm set a “market perform” rating on the stock.
GNW has been the topic of a number of other research reports. Compass Point cut Genworth Financial from a “buy” rating to a “neutral” rating in a report on Monday. Keefe, Bruyette & Woods restated a “market perform” rating and set a $3.50 target price on shares of Genworth Financial in a report on Monday, September 5th. Zacks Investment Research upgraded Genworth Financial from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 13th. JPMorgan Chase & Co. restated a “hold” rating on shares of Genworth Financial in a report on Wednesday, August 3rd. Finally, BTIG Research restated a “buy” rating and set a $5.00 target price on shares of Genworth Financial in a report on Thursday, August 4th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $5.46.
Genworth Financial (NYSE:GNW) opened at 4.95 on Friday. The firm’s market cap is $2.47 billion. The company has a 50-day moving average price of $4.36 and a 200-day moving average price of $3.39. Genworth Financial has a 12-month low of $1.57 and a 12-month high of $5.75.
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Genworth Financial (NYSE:GNW) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.04. The business had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.09 billion. Genworth Financial had a positive return on equity of 1.32% and a negative net margin of 4.24%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.24 earnings per share. On average, analysts predict that Genworth Financial will post $0.88 earnings per share for the current year.
Several institutional investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its position in Genworth Financial by 5.6% in the first quarter. State Street Corp now owns 17,972,546 shares of the company’s stock valued at $49,070,000 after buying an additional 948,072 shares during the period. Solus Alternative Asset Management LP boosted its position in Genworth Financial by 57.6% in the first quarter. Solus Alternative Asset Management LP now owns 15,000,000 shares of the company’s stock valued at $40,950,000 after buying an additional 5,483,200 shares during the period. Royal Bank of Canada boosted its position in Genworth Financial by 81.4% in the first quarter. Royal Bank of Canada now owns 452,592 shares of the company’s stock valued at $1,236,000 after buying an additional 203,144 shares during the period. Acadian Asset Management LLC acquired a new position in Genworth Financial during the first quarter valued at $1,156,000. Finally, Saba Capital Management L.P. acquired a new position in Genworth Financial during the first quarter valued at $1,881,000. Institutional investors and hedge funds own 71.74% of the company’s stock.
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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