Genworth Financial (GNW) Earns “Hold” Rating from BTIG Research
“Hosting a Call Following Release of 4Q17 Report? With the fate of its deal to be acquired by China Oceanwide (952 HK, Not Rated) caught in regulatory limbo and a $600mm debt maturity looming on May 22, Genworth Financial (GNW) is set to release its 4Q17 report today after the market close. What has many investors buzzing, however, is the conference call that GNW management has scheduled for tomorrow at 9am ET.”,” BTIG Research’s analyst wrote.
Several other analysts have also recently issued reports on GNW. Wells Fargo & Co restated a hold rating and issued a $3.75 target price on shares of Genworth Financial in a report on Friday, November 3rd. Zacks Investment Research cut Genworth Financial from a hold rating to a strong sell rating in a report on Monday, November 6th. Finally, ValuEngine cut Genworth Financial from a buy rating to a hold rating in a report on Sunday, December 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Genworth Financial has an average rating of Hold and a consensus price target of $3.75.
Genworth Financial (NYSE:GNW) last issued its 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. The company had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Genworth Financial had a return on equity of 4.63% and a net margin of 9.85%. The firm’s quarterly revenue was down 23.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.27) EPS. equities research analysts anticipate that Genworth Financial will post 0.9 earnings per share for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GNW. BlackRock Inc. grew its holdings in shares of Genworth Financial by 11.2% during the 4th quarter. BlackRock Inc. now owns 54,184,339 shares of the financial services provider’s stock worth $168,512,000 after purchasing an additional 5,446,174 shares during the period. Vanguard Group Inc. grew its holdings in shares of Genworth Financial by 7.0% during the 2nd quarter. Vanguard Group Inc. now owns 41,753,927 shares of the financial services provider’s stock worth $157,413,000 after purchasing an additional 2,745,057 shares during the period. Prudential Financial Inc. grew its holdings in shares of Genworth Financial by 21.2% during the 3rd quarter. Prudential Financial Inc. now owns 6,637,723 shares of the financial services provider’s stock worth $25,555,000 after purchasing an additional 1,162,720 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Genworth Financial by 18.5% during the 4th quarter. Bank of New York Mellon Corp now owns 7,030,319 shares of the financial services provider’s stock worth $21,865,000 after purchasing an additional 1,099,278 shares during the period. Finally, Amundi Pioneer Asset Management Inc. purchased a new position in shares of Genworth Financial during the 3rd quarter worth $3,519,000. Institutional investors and hedge funds own 66.66% of the company’s stock.
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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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