Wells Fargo & Co reiterated their hold rating on shares of Genworth Financial (NYSE:GNW) in a research note published on Wednesday.
“We confirmed that RBC estimate assumes no cash contribution to GLIC from the holding company. The estimate does not include the impact of tax reform on certain other factors in the RBC calculation, which was sized by GNW management on the recent Q4 2017 conference call to be 5060 additional points.”,” Wells Fargo & Co’s analyst commented.
Several other analysts have also recently issued reports on GNW. Zacks Investment Research cut Genworth Financial from a hold rating to a strong sell rating in a research note on Monday, November 6th. ValuEngine cut Genworth Financial from a buy rating to a hold rating in a research note on Sunday, December 31st. BTIG Research restated a hold rating on shares of Genworth Financial in a research note on Thursday, February 8th. Finally, TheStreet upgraded Genworth Financial from a d+ rating to a c rating in a research note on Wednesday, February 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $3.75.
Shares of Genworth Financial (NYSE:GNW) opened at $2.91 on Wednesday. Genworth Financial has a one year low of $2.71 and a one year high of $4.23. The stock has a market capitalization of $1,472.64, a P/E ratio of 2.12, a price-to-earnings-growth ratio of 0.66 and a beta of 2.58. The company has a current ratio of 1.24, a quick ratio of 0.28 and a debt-to-equity ratio of 0.28.
Genworth Financial (NYSE:GNW) last announced its quarterly earnings data on Tuesday, February 6th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.45. Genworth Financial had a return on equity of 4.63% and a net margin of 9.85%. The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the prior year, the firm posted ($0.27) earnings per share. Genworth Financial’s revenue for the quarter was down 23.3% compared to the same quarter last year. equities research analysts expect that Genworth Financial will post 0.9 EPS for the current fiscal year.
Several large investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its holdings in shares of Genworth Financial by 1.1% during the second quarter. The Manufacturers Life Insurance Company now owns 1,107,745 shares of the financial services provider’s stock valued at $4,176,000 after purchasing an additional 11,670 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Genworth Financial by 2.8% during the third quarter. Nordea Investment Management AB now owns 624,000 shares of the financial services provider’s stock valued at $2,402,000 after purchasing an additional 17,000 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Genworth Financial by 52.1% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 55,077 shares of the financial services provider’s stock valued at $171,000 after purchasing an additional 18,868 shares during the last quarter. Systematic Financial Management LP grew its holdings in shares of Genworth Financial by 4.9% during the fourth quarter. Systematic Financial Management LP now owns 454,580 shares of the financial services provider’s stock valued at $1,414,000 after purchasing an additional 21,385 shares during the last quarter. Finally, Voya Investment Management LLC grew its holdings in shares of Genworth Financial by 10.5% during the second quarter. Voya Investment Management LLC now owns 229,734 shares of the financial services provider’s stock valued at $866,000 after purchasing an additional 21,781 shares during the last quarter. 65.62% of the stock is owned by institutional investors.
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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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