Genworth Financial Inc (GNW) Bonds Rise 0.7% During Trading

An issue of Genworth Financial Inc (NYSE:GNW) bonds rose 0.7% against their face value during trading on Thursday. The debt issue has a 7.2% coupon and is set to mature on February 15, 2021. The bonds in the issue are now trading at $97.25 and were trading at $95.75 one week ago. Price changes in a company’s bonds in credit markets often predict parallel changes in its share price.

Several analysts have recently issued reports on the company. BTIG Research reaffirmed a “neutral” rating on shares of Genworth Financial in a report on Saturday, September 16th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Genworth Financial in a report on Monday, October 2nd. BidaskClub raised Genworth Financial from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 9th. Zacks Investment Research raised Genworth Financial from a “hold” rating to a “buy” rating and set a $4.00 price objective on the stock in a report on Tuesday, September 5th. Finally, ValuEngine raised Genworth Financial from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Genworth Financial currently has an average rating of “Hold” and a consensus target price of $3.96.

Genworth Financial Inc (NYSE:GNW) traded up $0.01 during midday trading on Friday, hitting $3.57. The stock had a trading volume of 2,554,000 shares, compared to its average volume of 5,365,495. The company has a market cap of $1,777.01, a P/E ratio of 7.57, a P/E/G ratio of 0.76 and a beta of 2.80. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.28. Genworth Financial Inc has a 52-week low of $3.12 and a 52-week high of $4.46.

Genworth Financial (NYSE:GNW) last released its earnings results on Thursday, November 2nd. The financial services provider reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.05). The company had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.12 billion. Genworth Financial had a net margin of 3.88% and a return on equity of 1.57%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.81) EPS. research analysts expect that Genworth Financial Inc will post 0.94 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GNW. Wellington Management Group LLP increased its position in shares of Genworth Financial by 0.3% during the 1st quarter. Wellington Management Group LLP now owns 292,904 shares of the financial services provider’s stock valued at $1,207,000 after purchasing an additional 1,002 shares during the last quarter. Teachers Advisors LLC increased its position in shares of Genworth Financial by 1.5% during the 1st quarter. Teachers Advisors LLC now owns 872,173 shares of the financial services provider’s stock valued at $3,593,000 after purchasing an additional 12,854 shares during the last quarter. Thrivent Financial For Lutherans increased its position in shares of Genworth Financial by 10.3% during the 1st quarter. Thrivent Financial For Lutherans now owns 94,820 shares of the financial services provider’s stock valued at $391,000 after purchasing an additional 8,880 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Genworth Financial by 8.6% during the 1st quarter. Geode Capital Management LLC now owns 3,909,751 shares of the financial services provider’s stock valued at $16,108,000 after purchasing an additional 309,296 shares during the last quarter. Finally, BlackRock Inc. increased its position in shares of Genworth Financial by 9,605.2% during the 1st quarter. BlackRock Inc. now owns 48,718,954 shares of the financial services provider’s stock valued at $200,723,000 after purchasing an additional 48,216,968 shares during the last quarter. 67.68% of the stock is currently owned by hedge funds and other institutional investors.

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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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