Genworth Financial Inc (GNW) Debt Trading 0.7% Lower

An issue of Genworth Financial Inc (NYSE:GNW) debt fell 0.7% against its face value during trading on Tuesday. The high-yield debt issue has a 7.7% coupon and is set to mature on June 15, 2020. The bonds in the issue are now trading at $97.14 and were trading at $100.00 one week ago. Price moves in a company’s debt in credit markets often predict parallel moves in its share price.

Several brokerages have commented on GNW. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $4.00 price target on shares of Genworth Financial in a report on Tuesday, October 3rd. Zacks Investment Research downgraded shares of Genworth Financial from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. ValuEngine raised shares of Genworth Financial from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Wells Fargo & Company reissued a “hold” rating on shares of Genworth Financial in a report on Monday, October 2nd. Finally, BTIG Research reissued a “neutral” rating on shares of Genworth Financial in a report on Saturday, September 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $4.27.

Genworth Financial Inc (GNW) traded up 3.51% during mid-day trading on Tuesday, hitting $3.83. 3,400,605 shares of the stock were exchanged. The company has a 50-day moving average of $3.65 and a 200-day moving average of $3.69. Genworth Financial Inc has a 52 week low of $3.12 and a 52 week high of $5.25. The stock’s market capitalization is $1.91 billion.

Genworth Financial (NYSE:GNW) last issued its earnings results on Tuesday, August 1st. The financial services provider reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.08. Genworth Financial had a negative net margin of 1.66% and a negative return on equity of 1.63%. The firm had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the prior year, the business earned $0.39 earnings per share. Genworth Financial’s revenue for the quarter was down .6% on a year-over-year basis. On average, equities analysts predict that Genworth Financial Inc will post $1.03 EPS for the current fiscal year.

Several large investors have recently modified their holdings of the stock. Fondren Management LP bought a new position in shares of Genworth Financial during the second quarter worth $189,000. Capital Returns Management LLC bought a new position in shares of Genworth Financial during the second quarter worth $2,793,000. Cetera Investment Advisers boosted its position in shares of Genworth Financial by 59.6% during the second quarter. Cetera Investment Advisers now owns 84,730 shares of the financial services provider’s stock worth $320,000 after acquiring an additional 31,655 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Genworth Financial by 1.1% during the second quarter. The Manufacturers Life Insurance Company now owns 1,107,745 shares of the financial services provider’s stock worth $4,176,000 after acquiring an additional 11,670 shares during the last quarter. Finally, Alpine Global Management LLC boosted its position in shares of Genworth Financial by 153.3% during the second quarter. Alpine Global Management LLC now owns 253,526 shares of the

Several brokerages have commented on GNW. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $4.00 price target on shares of Genworth Financial in a report on Tuesday, October 3rd. Zacks Investment Research downgraded shares of Genworth Financial from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. ValuEngine raised shares of Genworth Financial from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Wells Fargo & Company reissued a “hold” rating on shares of Genworth Financial in a report on Monday, October 2nd. Finally, BTIG Research reissued a “neutral” rating on shares of Genworth Financial in a report on Saturday, September 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $4.27.

Genworth Financial Inc (GNW) traded up 3.51% during mid-day trading on Tuesday, hitting $3.83. 3,400,605 shares of the stock were exchanged. The company has a 50-day moving average of $3.65 and a 200-day moving average of $3.69. Genworth Financial Inc has a 52 week low of $3.12 and a 52 week high of $5.25. The stock’s market capitalization is $1.91 billion.

Genworth Financial (NYSE:GNW) last issued its earnings results on Tuesday, August 1st. The financial services provider reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.08. Genworth Financial had a negative net margin of 1.66% and a negative return on equity of 1.63%. The firm had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the prior year, the business earned $0.39 earnings per share. Genworth Financial’s revenue for the quarter was down .6% on a year-over-year basis. On average, equities analysts predict that Genworth Financial Inc will post $1.03 EPS for the current fiscal year.

Several large investors have recently modified their holdings of the stock. Fondren Management LP bought a new position in shares of Genworth Financial during the second quarter worth $189,000. Capital Returns Management LLC bought a new position in shares of Genworth Financial during the second quarter worth $2,793,000. Cetera Investment Advisers boosted its position in shares of Genworth Financial by 59.6% during the second quarter. Cetera Investment Advisers now owns 84,730 shares of the financial services provider’s stock worth $320,000 after acquiring an additional 31,655 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Genworth Financial by 1.1% during the second quarter. The Manufacturers Life Insurance Company now owns 1,107,745 shares of the financial services provider’s stock worth $4,176,000 after acquiring an additional 11,670 shares during the last quarter. Finally, Alpine Global Management LLC boosted its position in shares of Genworth Financial by 153.3% during the second quarter. Alpine Global Management LLC now owns 253,526 shares of the financial services provider’s stock worth $956,000 after acquiring an additional 153,426 shares during the last quarter. Hedge funds and other institutional investors own 67.58% of the company’s stock.

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About Genworth Financial

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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