During Genworth’s second fiscal quarter of 2016, the insurance giant achieved net income of $172 million – amounting to 34 cents per diluted share. The company has an Average Rating of 3.00 based on Thomson Reuters I/B/E/S scale of 1-5.
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Several other hedge funds have also recently bought and sold shares of the company. Nationwide Fund Advisors raised its stake in Genworth Financial by 428.8% in the fourth quarter.
Genworth exited the quarter with cash, cash equivalents and invested assets of $78.2 billion, up 3.2% from year-end 2015.
The company’s weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, weak operating cash flow, generally disappointing historical performance in the stock itself and poor profit margins. The business had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.09 billion. The previous close of the stock was called at $13.65. Comerica Bank now owns 347,973 shares of the company’s stock worth $1,075,000 after buying an additional 228,794 shares in the last quarter. The stock had a trading volume of 9.3 M shares.
Shares of Genworth Financial Inc.
The share price of the company (NYSE:GNW) was down -2.10%, with a high of 2.94 during the day and the volume of Genworth Financial Inc shares traded was 5356113. Genworth Financial Inc. has a 52 week low of $1.57 and a 52 week high of $7.11. The firm has a SMA 50 (Simple Moving Average) of $2.86 and a SMA 200-(Simple Moving Average) of $2.85.
Genworth Financial Inc (NYSE:GNW)currently has mean rating of 2.6 while 1 analyst have recommended the shares as “BUY”, 2 commented as “OUTPERFORM” and 5 commented as “HOLD”.
A number of analysts have weighed in on GNW shares. Morgan Stanley reiterated a “hold” rating on shares of Genworth Financial in a report on Saturday, April 30th. Finally, Zacks Investment Research downgraded shares of Genworth Financial from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 5th. 1 Month Ago, the stock has been rated as “Buy” from 2 Analysts.
05/06/2015 – Genworth Financial Inc had its “buy” rating reiterated by analysts at Jefferies.
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The Richmond, Virginia-based financial services company, which provides insurance, investment, wealth management and financial solutions, conducts its operations through its three business units: US Life Insurance, Global Mortgage Insurance, and Corporate and Other. The Company provides mortgage default insurance to Canadian residential mortgage lenders, making homeownership more accessible to first-time homebuyers.
