Genworth Financial Inc (GNW) Shares Gap Down to $4.01

Genworth Financial Inc (NYSE:GNW) gapped down prior to trading on Thursday . The stock had previously closed at $4.10, but opened at $4.01. Genworth Financial shares last traded at $3.98, with a volume of 3,761,856 shares trading hands.

GNW has been the subject of a number of analyst reports. ValuEngine raised Genworth Financial from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. BidaskClub raised Genworth Financial from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Zacks Investment Research downgraded Genworth Financial from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Finally, Wells Fargo & Company reissued a “hold” rating on shares of Genworth Financial in a report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $4.27.

The firm’s market capitalization is $1.99 billion. The company’s 50-day moving average price is $3.50 and its 200 day moving average price is $3.73.

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

Several institutional investors have recently bought and sold shares of GNW. Relative Value Partners Group LLC increased its stake in shares of Genworth Financial by 55.7% in the first quarter. Relative Value Partners Group LLC now owns 25,150 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 9,000 shares during the period. Tiedemann Wealth Management LLC increased its stake in shares of Genworth Financial by 72.0% in the first quarter. Tiedemann Wealth Management LLC now owns 26,041 shares of the financial services provider’s stock worth $107,000 after purchasing an additional 10,901 shares during the period. NEXT Financial Group Inc increased its stake in shares of Genworth Financial by 0.5% in the second quarter. NEXT Financial Group Inc now owns 31,651 shares of the financial services provider’s stock worth $119,000 after purchasing an additional 151 shares during the period. Bayesian Capital Management LP bought a new position in shares of Genworth Financial in the second quarter worth about $126,000. Finally, Shelton Capital Management bought a new position in shares of Genworth Financial in the second quarter worth about $140,000. Institutional investors and hedge funds own 67.59% of the company’s stock.

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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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