Todays Report: The Virginia Retirement Systems ET AL Acquires New Position in Genworth Financial Inc. (GNW)

The Virginia Retirement Systems ET AL Acquires New Position in Genworth Financial Inc. (GNW)

Virginia Retirement Systems ET AL acquired a new stake in shares of Genworth Financial Inc. (NYSE:GNW) during the second quarter, Holdings Channel reports. The firm acquired 65,500 shares of the company’s stock, valued at approximately $169,000.

Several other hedge funds have also modified their holdings of GNW. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Genworth Financial during the second quarter valued at approximately $102,000. Oppenheimer & Co. Inc. raised its stake in shares of Genworth Financial by 81.6% in the second quarter. Oppenheimer & Co. Inc. now owns 39,826 shares of the company’s stock valued at $103,000 after buying an additional 17,900 shares in the last quarter. Springbok Capital Management LLC acquired a new stake in shares of Genworth Financial during the first quarter valued at approximately $120,000. Investors Capital Advisory Services raised its stake in shares of Genworth Financial by 284.9% in the second quarter. Investors Capital Advisory Services now owns 52,644 shares of the company’s stock valued at $135,000 after buying an additional 38,965 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its stake in shares of Genworth Financial by 8.2% in the second quarter. Teacher Retirement System of Texas now owns 68,879 shares of the company’s stock valued at $178,000 after buying an additional 5,230 shares in the last quarter. Hedge funds and other institutional investors own 71.89% of the company’s stock.

Genworth Financial Inc. (NYSE:GNW) opened at 5.16 on Thursday. Genworth Financial Inc. has a 1-year low of $1.57 and a 1-year high of $5.74. The stock’s market cap is $2.57 billion. The firm’s 50 day moving average price is $4.89 and its 200-day moving average price is $3.60.

Genworth Financial (NYSE:GNW) last issued its earnings results on Tuesday, August 2nd. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. The firm earned $2.24 billion during the quarter, compared to the consensus estimate of $2.09 billion. Genworth Financial had a negative net margin of 4.24% and a positive return on equity of 1.32%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.24 earnings per share. On average, equities analysts anticipate that Genworth Financial Inc. will post $0.88 earnings per share for the current year.

GNW has been the subject of a number of research analyst reports. Morgan Stanley restated a “neutral” rating on shares of Genworth Financial in a research note on Wednesday, August 3rd. Zacks Investment Research upgraded Genworth Financial from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 13th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $3.50 target price on shares of Genworth Financial in a research note on Monday, September 5th. Compass Point lowered Genworth Financial from a “buy” rating to a “neutral” rating in a research note on Monday, September 19th. Finally, BTIG Research lowered Genworth Financial from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $5.75 to $1.57 in a research note on Wednesday, October 5th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $4.80.

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.

Related posts

Leave a Comment