An issue of Genworth Financial Inc (NYSE:GNW) bonds fell 0.8% as a percentage of their face value during trading on Wednesday. The debt issue has a 7.625% coupon and will mature on September 24, 2021. The bonds in the issue are now trading at $96.97. Price moves in a company’s bonds in credit markets sometimes anticipate parallel moves in its share price.
GNW has been the subject of a number of research analyst reports. Zacks Investment Research cut Genworth Financial from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. ValuEngine lowered Genworth Financial from a “buy” rating to a “hold” rating in a research note on Sunday. BTIG Research reissued a “neutral” rating on shares of Genworth Financial in a research note on Saturday, September 16th. Wells Fargo & Co reissued a “hold” rating on shares of Genworth Financial in a research note on Wednesday, November 29th. Finally, Off Wall Street began coverage on Genworth Financial in a research note on Monday, September 11th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. Genworth Financial presently has an average rating of “Hold” and a consensus target price of $3.92.
Genworth Financial Inc (NYSE:GNW) traded down $0.18 during mid-day trading on Wednesday, reaching $3.05. The company’s stock had a trading volume of 10,445,600 shares, compared to its average volume of 8,375,149. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.28. The firm has a market cap of $1,520.00, a price-to-earnings ratio of 4.30, a P/E/G ratio of 0.78 and a beta of 2.81. Genworth Financial Inc has a 52 week low of $3.01 and a 52 week high of $4.23.
Genworth Financial (NYSE:GNW) last issued its earnings results on Thursday, November 2nd. The financial services provider reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.05). Genworth Financial had a return on equity of 1.57% and a net margin of 3.88%. The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.12 billion. During the same period last year, the business posted ($0.81) EPS. Genworth Financial’s revenue was up 3.0% on a year-over-year basis. equities analysts anticipate that Genworth Financial Inc will post 0.94 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Rhumbline Advisers grew its stake in Genworth Financial by 0.4% during the 2nd quarter. Rhumbline Advisers now owns 1,080,701 shares of the financial services provider’s stock worth $4,074,000 after buying an additional 4,482 shares during the last quarter. Comerica Bank grew its stake in Genworth Financial by 0.6% during the 2nd quarter. Comerica Bank now owns 399,185 shares of the financial services provider’s stock worth $1,365,000 after buying an additional 2,511 shares during the last quarter. Prudential Financial Inc. grew its stake in Genworth Financial by 1.2% during the 2nd quarter. Prudential Financial Inc. now owns 5,475,003 shares of the financial services provider’s stock worth $20,641,000 after buying an additional 65,250 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in Genworth Financial by 4.1% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 65,664 shares of the financial services provider’s stock worth $248,000 after buying an additional 2,593 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in Genworth Financial by 3.6% during the 2nd quarter. Principal Financial Group Inc. now owns 2,102,128 shares of the financial services provider’s stock worth $7,925,000 after buying an additional 73,592 shares during the last quarter. 66.70% of the stock is currently owned by institutional investors and hedge funds.
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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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