Nomura Asset Management Co. Ltd. decreased its holdings in shares of Genworth Financial Inc (NYSE:GNW) by 43.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,200 shares of the financial services provider’s stock after selling 30,100 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Genworth Financial were worth $151,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Bayesian Capital Management LP bought a new stake in shares of Genworth Financial during the 2nd quarter valued at about $126,000. Shelton Capital Management bought a new stake in shares of Genworth Financial during the 2nd quarter valued at about $140,000. Teacher Retirement System of Texas boosted its position in shares of Genworth Financial by 1.1% during the 2nd quarter. Teacher Retirement System of Texas now owns 40,020 shares of the financial services provider’s stock valued at $151,000 after purchasing an additional 418 shares in the last quarter. Fondren Management LP bought a new stake in shares of Genworth Financial during the 2nd quarter valued at about $189,000. Finally, Lazard Asset Management LLC bought a new stake in shares of Genworth Financial during the 2nd quarter valued at about $222,000. Institutional investors own 66.70% of the company’s stock.
Several brokerages recently commented on GNW. BTIG Research restated a “neutral” rating on shares of Genworth Financial in a research report on Saturday, September 16th. Wells Fargo & Company restated a “hold” rating on shares of Genworth Financial in a research report on Monday, October 2nd. Zacks Investment Research upgraded Genworth Financial from a “hold” rating to a “buy” rating and set a $4.00 target price on the stock in a research report on Tuesday, September 5th. ValuEngine upgraded Genworth Financial from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $4.00 target price on shares of Genworth Financial in a research report on Tuesday, October 3rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Genworth Financial presently has an average rating of “Hold” and an average price target of $3.92.
Genworth Financial (NYSE:GNW) last announced its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.05). The firm had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.12 billion. Genworth Financial had a return on equity of 1.57% and a net margin of 3.88%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.81) EPS. equities analysts expect that Genworth Financial Inc will post 0.94 EPS for the current year.
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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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