Genworth Financial Inc. (GNW) Stock Rating Lowered by BTIG Research
Genworth Financial Inc. (NYSE:GNW) was downgraded by equities research analysts at BTIG Research from a “buy” rating to a “neutral” rating in a research note issued to investors on Wednesday. They currently have a $1.57 target price on the stock, down from their prior target price of $5.75. BTIG Research’s target price points to a potential downside of 69.22% from the company’s previous close.
Several other analysts also recently weighed in on the stock. Zacks Investment Research upgraded shares of Genworth Financial from a “hold” rating to a “buy” rating and set a $5.50 price objective for the company in a research report on Monday, October 3rd. JPMorgan Chase & Co. restated a “hold” rating on shares of Genworth Financial in a research report on Wednesday, August 3rd. Keefe, Bruyette & Woods restated a “market perform” rating and set a $3.50 price objective on shares of Genworth Financial in a research report on Monday, September 5th. Wells Fargo & Co. began coverage on shares of Genworth Financial in a research report on Friday, September 23rd. They set a “market perform” rating for the company. Finally, Morgan Stanley restated a “neutral” rating on shares of Genworth Financial in a research report on Wednesday, August 3rd. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $4.80.
Shares of Genworth Financial (NYSE:GNW) traded down 0.39% during mid-day trading on Wednesday, reaching $5.10. 7,198,549 shares of the company were exchanged. The stock’s market capitalization is $2.54 billion. Genworth Financial has a 12 month low of $1.57 and a 12 month high of $5.54. The stock has a 50 day moving average price of $4.79 and a 200-day moving average price of $3.55.
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Genworth Financial (NYSE:GNW) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. Genworth Financial had a negative net margin of 4.24% and a positive return on equity of 1.32%. The company earned $2.24 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the previous year, the firm earned $0.24 earnings per share. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. Analysts predict that Genworth Financial will post $0.88 earnings per share for the current year.
A number of institutional investors have recently made changes to their positions in GNW. Dynamic Technology Lab Private Ltd purchased a new position in shares of Genworth Financial during the second quarter valued at about $102,000. Oppenheimer & Co. Inc. boosted its position in shares of Genworth Financial by 81.6% in the second quarter. Oppenheimer & Co. Inc. now owns 39,826 shares of the company’s stock valued at $103,000 after buying an additional 17,900 shares in the last quarter. Ontario Teachers Pension Plan Board boosted its position in shares of Genworth Financial by 89.0% in the second quarter. Ontario Teachers Pension Plan Board now owns 46,201 shares of the company’s stock valued at $119,000 after buying an additional 21,754 shares in the last quarter. Springbok Capital Management LLC purchased a new position in shares of Genworth Financial during the first quarter valued at about $120,000. Finally, Rational Advisors LLC purchased a new position in shares of Genworth Financial during the second quarter valued at about $126,000. 71.74% of the stock is currently owned by institutional investors.
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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