Genworth Financial Inc (GNW) Bonds Trading 0.7% Higher

An issue of Genworth Financial Inc (NYSE:GNW) bonds rose 0.7% as a percentage of their face value during trading on Friday. The debt issue has a 7.2% coupon and will mature on February 15, 2021. The bonds in the issue are now trading at $97.25 and were trading at $95.75 one week ago. Price moves in a company’s bonds in credit markets sometimes predict parallel moves in its share price.

GNW has been the subject of a number of research reports. Zacks Investment Research lowered shares of Genworth Financial from a “hold” rating to a “strong sell” rating in a research note on Monday, November 6th. Off Wall Street initiated coverage on shares of Genworth Financial in a research note on Monday, September 11th. They set a “buy” rating for the company. Wells Fargo & Company reiterated a “hold” rating and set a $3.75 target price on shares of Genworth Financial in a research note on Friday, November 3rd. BidaskClub lowered shares of Genworth Financial from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Finally, ValuEngine upgraded shares of Genworth Financial from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $3.92.

Genworth Financial Inc (NYSE GNW) opened at $3.57 on Friday. The firm has a market cap of $1,782.00, a price-to-earnings ratio of 7.60, a P/E/G ratio of 0.76 and a beta of 2.80. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.28. Genworth Financial Inc has a 1-year low of $3.12 and a 1-year high of $4.46.

Genworth Financial (NYSE:GNW) last issued its earnings results on Thursday, November 2nd. The financial services provider reported $0.15 earnings per share 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 company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.81) EPS. analysts expect that Genworth Financial Inc will post 0.94 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. NEXT Financial Group Inc boosted its holdings in shares of Genworth Financial by 0.5% during the 2nd quarter. NEXT Financial Group Inc now owns 31,651 shares of the financial services provider’s stock valued at $119,000 after purchasing an additional 151 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Genworth Financial by 1.1% in 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 acquiring an additional 418 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of Genworth Financial by 1.2% in the 2nd quarter. Amalgamated Bank now owns 71,452 shares of the financial services provider’s stock valued at $269,000 after acquiring an additional 818 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Genworth Financial by 0.3% in the 1st quarter. Wellington Management Group LLP now owns 292,904 shares of the financial services provider’s stock valued at $1,207,000 after acquiring an additional 1,002 shares during the last quarter. Finally, Comerica Bank lifted its holdings in shares of Genworth Financial by 0.6% in the 2nd quarter. Comerica Bank now owns 399,185 shares of the financial services provider’s stock valued at $1,365,000 after acquiring an additional 2,511 shares during the last quarter. 67.68% of the stock is owned by institutional investors and hedge funds.

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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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