Genworth Financial (GNW) Debt Trading 1.5% Higher

An issue of Genworth Financial (NYSE:GNW) bonds rose 1.5% as a percentage of their face value during trading on Friday. The debt issue has a 6.5% coupon and will mature on June 15, 2034. The bonds in the issue are now trading at $77.50. Price moves in a company’s bonds in credit markets often anticipate parallel moves in its share price.

GNW has been the subject of several research analyst reports. ValuEngine lowered Genworth Financial from a “buy” rating to a “hold” rating in a research report on Thursday, March 1st. Zacks Investment Research lowered Genworth Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. Wells Fargo restated a “hold” rating on shares of Genworth Financial in a research report on Wednesday, February 21st. BTIG Research restated a “hold” rating on shares of Genworth Financial in a research report on Thursday, February 8th. Finally, TheStreet upgraded Genworth Financial from a “d+” rating to a “c” rating in a research report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. Genworth Financial has an average rating of “Hold” and a consensus target price of $3.50.

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Shares of NYSE GNW opened at $3.02 on Friday. The firm has a market capitalization of $1,507.57, a PE ratio of 2.17, a P/E/G ratio of 0.66 and a beta of 2.39. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.28 and a current ratio of 0.28. Genworth Financial has a 12-month low of $2.66 and a 12-month high of $4.15.

Genworth Financial (NYSE:GNW) last announced its quarterly earnings data on Tuesday, May 1st. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). The company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.15 billion. Genworth Financial had a net margin of 9.39% and a return on equity of 4.50%. The firm’s revenue was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.29 earnings per share. analysts anticipate that Genworth Financial will post 0.92 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Zeke Capital Advisors LLC acquired a new stake in shares of Genworth Financial in the first quarter valued at $105,000. Webster Bank N. A. acquired a new stake in shares of Genworth Financial in the fourth quarter valued at $110,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Genworth Financial by 82.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,837 shares of the financial services provider’s stock valued at $113,000 after acquiring an additional 18,036 shares in the last quarter. Xact Kapitalforvaltning AB acquired a new stake in shares of Genworth Financial in the fourth quarter valued at $162,000. Finally, Raymond James Financial Services Advisors Inc. raised its stake in shares of Genworth Financial by 52.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 55,077 shares of the financial services provider’s stock valued at $171,000 after acquiring an additional 18,868 shares in the last quarter. Institutional investors and hedge funds own 67.33% of the company’s stock.

About Genworth Financial

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.

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