Genworth Financial (NYSE:GNW) Announces Earnings Results

Key Points

• Genworth Financial reported quarterly earnings of $0.16 per share, exceeding analyst expectations of $0.05 by $0.11, with total revenue of $1.80 billion.
• Despite strong earnings, Genworth Financial's stock is down 0.9% and has a 52-week trading range between $5.99 and $8.28.
• Analysts have varied views on Genworth Financial, with Keefe, Bruyette & Woods raising their price target to $9.50, while Wall Street Zen downgraded the stock to a "sell" rating.

Genworth Financial (NYSE:GNW - Get Free Report) issued its quarterly earnings results on Wednesday. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.11, Zacks reports. The business had revenue of $1.80 billion for the quarter. Genworth Financial had a net margin of 2.61% and a return on equity of 1.92%.

Genworth Financial Stock Down 0.9%

Shares of NYSE:GNW opened at $7.86 on Friday. Genworth Financial has a fifty-two week low of $5.99 and a fifty-two week high of $8.28. The firm's 50 day moving average price is $7.42 and its 200 day moving average price is $7.08. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.16. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of 17.47 and a beta of 1.06.

Analysts Set New Price Targets

GNW has been the topic of a number of research reports. Keefe, Bruyette & Woods increased their target price on shares of Genworth Financial from $9.00 to $9.50 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Wall Street Zen cut Genworth Financial from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd.

Institutional Trading of Genworth Financial

A number of institutional investors have recently bought and sold shares of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Genworth Financial by 4.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,184,144 shares of the financial services provider's stock valued at $8,396,000 after purchasing an additional 55,071 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Genworth Financial by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 252,152 shares of the financial services provider's stock valued at $1,788,000 after buying an additional 7,106 shares in the last quarter. Royal Bank of Canada grew its position in shares of Genworth Financial by 75.8% in the 1st quarter. Royal Bank of Canada now owns 118,058 shares of the financial services provider's stock valued at $837,000 after buying an additional 50,911 shares during the last quarter. Finally, Strs Ohio acquired a new stake in Genworth Financial during the 1st quarter worth $82,000. 81.85% of the stock is owned by hedge funds and other institutional investors.

Genworth Financial Company Profile

Genworth Financial, Inc, together with its subsidiaries, provides mortgage and long-term care insurance products in the United States and internationally. It operates in three segments: Enact, Long-Term Care Insurance, and Life and Annuities. The Enact segment offers private mortgage insurance products primarily insuring prime-based, individually underwritten residential mortgage loans; and pool mortgage insurance products.

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