Brokerages Set Genworth Financial Inc (GNW) Target Price at $5.13

Genworth Financial Inc (NYSE:GNW) has been assigned an average rating of “Hold” from the six ratings firms that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $5.13.

Several research analysts recently weighed in on the company. Zacks Investment Research upgraded Genworth Financial from a “hold” rating to a “strong-buy” rating and set a $5.25 price target for the company in a research report on Friday, August 3rd. ValuEngine cut Genworth Financial from a “sell” rating to a “strong sell” rating in a research report on Monday, July 2nd.

Genworth Financial stock opened at $3.98 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.27 and a quick ratio of 0.27. Genworth Financial has a 52 week low of $2.66 and a 52 week high of $4.92. The stock has a market cap of $2.09 billion, a P/E ratio of 2.86 and a beta of 2.39.

Genworth Financial (NYSE:GNW) last released its earnings results on Tuesday, July 31st. The financial services provider reported $0.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.13. Genworth Financial had a return on equity of 4.85% and a net margin of 9.32%. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the previous year, the company posted $0.30 earnings per share. The company’s revenue was down 2.9% compared to the same quarter last year. On average, equities analysts anticipate that Genworth Financial will post 1.11 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. raised its position in Genworth Financial by 2.8% during the second quarter. BlackRock Inc. now owns 56,496,536 shares of the financial services provider’s stock valued at $254,235,000 after acquiring an additional 1,550,742 shares in the last quarter. Miller Value Partners LLC increased its position in shares of Genworth Financial by 9.6% in the second quarter. Miller Value Partners LLC now owns 21,283,130 shares of the financial services provider’s stock valued at $95,774,000 after buying an additional 1,859,875 shares in the last quarter. FMR LLC increased its position in shares of Genworth Financial by 1.5% in the second quarter. FMR LLC now owns 15,401,017 shares of the financial services provider’s stock valued at $69,305,000 after buying an additional 234,100 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Genworth Financial by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 7,193,980 shares of the financial services provider’s stock valued at $32,372,000 after buying an additional 189,439 shares in the last quarter. Finally, Saba Capital Management L.P. increased its position in shares of Genworth Financial by 3.6% in the first quarter. Saba Capital Management L.P. now owns 4,372,434 shares of the financial services provider’s stock valued at $12,374,000 after buying an additional 151,200 shares in the last quarter. Institutional investors own 63.34% of the company’s stock.

Genworth Financial Company Profile

Genworth Financial, Inc provides insurance and homeownership solutions in the United States and internationally. It operates through five segments: U.S. Mortgage Insurance, Canada Mortgage Insurance, Australia Mortgage Insurance, U.S. Life Insurance, and Runoff. The U.S. Mortgage Insurance segment offers mortgage insurance products primarily insuring prime-based, individually underwritten residential mortgage loans.

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