Genworth Financial (NYSE:GNW) Lowered to “Strong Sell” at ValuEngine

Genworth Financial (NYSE:GNW) was downgraded by ValuEngine from a “sell” rating to a “strong sell” rating in a note issued to investors on Wednesday, ValuEngine reports.

Separately, Zacks Investment Research cut shares of Genworth Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, March 5th.

GNW opened at $3.21 on Wednesday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.27. Genworth Financial has a 52-week low of $2.89 and a 52-week high of $5.02. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 8.92 and a beta of 1.62.

Genworth Financial (NYSE:GNW) last posted its earnings results on Tuesday, April 30th. The financial services provider reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.02). Genworth Financial had a return on equity of 1.20% and a net margin of 2.12%. The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the firm posted $0.25 earnings per share. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, research analysts predict that Genworth Financial will post 0.98 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Genworth Financial by 3.0% during the fourth quarter. BlackRock Inc. now owns 58,673,934 shares of the financial services provider’s stock worth $273,420,000 after purchasing an additional 1,689,769 shares in the last quarter. FMR LLC lifted its position in shares of Genworth Financial by 4.4% during the fourth quarter. FMR LLC now owns 16,101,788 shares of the financial services provider’s stock worth $75,035,000 after purchasing an additional 680,311 shares in the last quarter. CNH Partners LLC lifted its position in shares of Genworth Financial by 13.6% during the first quarter. CNH Partners LLC now owns 11,462,117 shares of the financial services provider’s stock worth $43,900,000 after purchasing an additional 1,371,039 shares in the last quarter. First Manhattan Co. lifted its position in shares of Genworth Financial by 90.2% during the first quarter. First Manhattan Co. now owns 8,645,207 shares of the financial services provider’s stock worth $33,111,000 after purchasing an additional 4,100,602 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Genworth Financial by 0.8% during the first quarter. Northern Trust Corp now owns 7,965,402 shares of the financial services provider’s stock worth $30,507,000 after purchasing an additional 59,426 shares in the last quarter. 65.83% of the stock is currently owned by institutional investors and hedge funds.

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.

Featured Article: Futures Contract

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Genworth Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genworth Financial and related companies with MarketBeat.com's FREE daily email newsletter.