Allianz Asset Management GmbH reduced its position in shares of Genworth Financial Inc (NYSE:GNW) by 61.7% in the 4th quarter, Holdings Channel reports. The firm owned 796,364 shares of the financial services provider’s stock after selling 1,283,329 shares during the quarter. Allianz Asset Management GmbH’s holdings in Genworth Financial were worth $2,477,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in GNW. Crossmark Global Holdings Inc. bought a new position in Genworth Financial during the 3rd quarter worth $325,000. Russell Investments Group Ltd. increased its stake in Genworth Financial by 15.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 517,554 shares of the financial services provider’s stock worth $1,993,000 after acquiring an additional 70,134 shares during the period. Commonwealth Equity Services Inc increased its stake in Genworth Financial by 54.2% during the 3rd quarter. Commonwealth Equity Services Inc now owns 73,215 shares of the financial services provider’s stock worth $281,000 after acquiring an additional 25,746 shares during the period. Ameriprise Financial Inc. increased its stake in Genworth Financial by 1.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,433,948 shares of the financial services provider’s stock worth $5,521,000 after acquiring an additional 26,300 shares during the period. Finally, American International Group Inc. increased its stake in Genworth Financial by 2.8% during the 3rd quarter. American International Group Inc. now owns 1,358,353 shares of the financial services provider’s stock worth $5,230,000 after acquiring an additional 36,902 shares during the period. 67.10% of the stock is owned by institutional investors and hedge funds.
Genworth Financial stock opened at $3.06 on Thursday. Genworth Financial Inc has a 52 week low of $2.67 and a 52 week high of $4.23. 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 stock has a market capitalization of $1,447.67, a price-to-earnings ratio of 1.89, a PEG ratio of 0.65 and a beta of 2.56.
Genworth Financial (NYSE:GNW) last issued its quarterly earnings results 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 company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the company posted ($0.27) EPS. The company’s revenue for the quarter was down 23.3% compared to the same quarter last year. sell-side analysts expect that Genworth Financial Inc will post 0.9 earnings per share for the current year.
A number of research firms have commented on GNW. Zacks Investment Research upgraded Genworth Financial from a “hold” rating to a “buy” rating and set a $3.50 price objective on the stock in a research note on Wednesday, January 10th. Wells Fargo restated a “hold” rating on shares of Genworth Financial in a research note on Wednesday, November 29th. BTIG Research restated a “hold” rating on shares of Genworth Financial in a research note on Thursday, February 8th. TheStreet upgraded Genworth Financial from a “d+” rating to a “c” rating in a research note on Wednesday, February 7th. Finally, ValuEngine lowered Genworth Financial from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. Genworth Financial currently has an average rating of “Hold” and an average price target of $3.50.
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Genworth Financial 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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