BTIG Research cut shares of Genworth Financial Inc. (NYSE:GNW) from a buy rating to a neutral rating in a report issued on Wednesday morning. BTIG Research currently has $1.57 price objective on the stock, down from their previous price objective of $5.75.
Several other equities research analysts have also weighed in on the company. Morgan Stanley restated a neutral rating on shares of Genworth Financial in a report on Wednesday, August 3rd. JPMorgan Chase & Co. restated a hold rating on shares of Genworth Financial in a report on Wednesday, August 3rd. Zacks Investment Research upgraded Genworth Financial from a hold rating to a buy rating and set a $5.50 target price for the company in a report on Monday. Goldman Sachs Group Inc. boosted their target price on Genworth Financial from $3.00 to $4.00 and gave the stock a neutral rating in a report on Friday, September 23rd. Finally, Keefe, Bruyette & Woods restated a market perform rating and issued a $3.50 target price on shares of Genworth Financial in a report on Monday, September 5th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has an average rating of Hold and an average price target of $4.80.
Genworth Financial (NYSE:GNW) traded down 1.17% during mid-day trading on Wednesday, hitting $5.08. 3,454,753 shares of the stock were exchanged. Genworth Financial has a one year low of $1.57 and a one year high of $5.75. The company’s market cap is $2.53 billion. The company has a 50-day moving average price of $4.72 and a 200-day moving average price of $3.53.
Genworth Financial (NYSE:GNW) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.04. The business earned $2.24 billion during 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 in the previous year, the business posted $0.24 EPS. On average, analysts predict that Genworth Financial will post $0.88 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of GNW. Eqis Capital Management Inc. acquired a new position in shares of Genworth Financial during the third quarter worth approximately $3,707,000. Mason Street Advisors LLC purchased a new stake in Genworth Financial during the second quarter worth about $586,000. Schwab Charles Investment Management Inc. boosted its stake in Genworth Financial by 60.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,462,785 shares of the company’s stock worth $6,354,000 after buying an additional 924,308 shares in the last quarter. Amalgamated Bank boosted its stake in Genworth Financial by 3.6% in the second quarter. Amalgamated Bank now owns 62,410 shares of the company’s stock worth $221,000 after buying an additional 2,166 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in Genworth Financial by 43.9% in the second quarter. Legal & General Group Plc now owns 2,155,836 shares of the company’s stock worth $5,567,000 after buying an additional 657,736 shares in the last quarter. Institutional investors own 71.74% of the company’s stock.
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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