SSgA Funds Management, Inc. recently announced the acquisition of new stake in Genworth Financial Inc. (NYSE:GNW). The institutional investor has increased its shareholding in the Financial company by 6.06% to 19.6 million shares with purchase of 1.12 million shares. This fresh investment now brings its stake to 3.88% valued currently at $39.98 million. In addition, Grantham, Mayo, Van Otterloo & Co.. raised its holdings by 4.96 million to 9.5 million shares. And Shah Capital Management, Inc. has lifted its position by 27.57% or 1.83 million shares – to 8.48 million shares.
With over 4.89 million Genworth Financial Inc. (GNW) shares trading Friday and a closing price of $2.37 on the day, the dollar volume was approximately $11.59 million. The shares have shown a negative weekly performance of -9.20% and its price on 08/28/20 lost nearly -6.32%. Currently, there are 505.40M common shares owned by the public and among those 499.56M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 3 analysts who have offered their price forecasts for GNW have a consensus price objective of $3.00. The analysts have set the share’s price value over the next 12 months at a high of $3.00 and a low of $3.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Genworth Financial Inc. stock is 3.00 for the next 12 months. The average price target is 32.29% above its last price level and an upside to the estimated low will see the stock gain 21.0% over that period. But an upside of 21.0% will see the stock hit the forecast high price target while mean target price for the stock is $3.00.
Insiders at the company have transacted a total of 32 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 16 of these insider trades were purchases, accounting for 2,864,840 shares. Insider sales of the common stock occurred on 16 occasions, with total insider shares sold totaling 1,126,544 shares.
The top 3 mutual fund holders in Genworth Financial Inc. are Vanguard Total Stock Market Index, iShares Core S&P Mid Cap ETF, and Vanguard Small Cap Index Fund. Vanguard Total Stock Market Index owns 14.35 million shares of the company’s stock, all valued at over $29.27 million. The company sold 10661.0 shares recently to bring their total holdings to about 2.84% of the shares outstanding. iShares Core S&P Mid Cap ETF sold 25677.0 shares to see its total holdings shrink to 13.42 million shares valued at over $27.37 million and representing 2.66% of the shares outstanding. Vanguard Small Cap Index Fund sold 74419.0 shares to bring its total holdings to over 12.55 million shares at a value of $25.6 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.48% of the shares outstanding.
Shares of Genworth Financial Inc. (NYSE: GNW) opened at $2.55, up $0.02 from a prior closing price of $2.53. However, the script later closed the day at $2.37, down -6.32%. The company’s stock has a 5-day price change of -9.20% and -25.47% over the past three months. GNW shares are trading -46.14% year to date (YTD), with the 12-month market performance down to -46.98% lower. It has a 12-month low price of $1.87 and touched a high of $4.93 over the same period. Currently, 4.89 million shares have been traded, compared to an average intraday trading volume of 5.05 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.38%, 0.61%, and -31.56% respectively.
Institutional ownership of Genworth Financial Inc. (NYSE: GNW) shares accounts for 60.90% of the company’s 505.40M shares outstanding. Mutual fund holders own 35.56%, while other institutional holders and individual stakeholders account for 36.63% and 1.51% respectively.
It has a market capitalization of $1.50B and a beta (3y monthly) value of 1.13. The stock’s trailing 12-month PE ratio is 6.83, while the earnings-per-share (ttm) stands at $0.35. The company has a PEG of 1.37 and the debt-to-equity ratio at 0.19. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.49% over the week and 7.23% over the month.
Analysts forecast that Genworth Financial Inc. (GNW) will achieve an EPS of $0.01 for the current quarter, $0.04 for the next quarter and $0.28 for 2021. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0.03. Comparatively, EPS for the current quarter was $0.04 a year ago. Earnings per share for the fiscal year are expected to decrease by -71.60%, and 115.80% over the next financial year. EPS should shrink at an annualized rate of 5.00% over the next five years, compared to 18.30% over the past 5-year period.
Looking at the support for the GNW, a number of firms have released research notes about the stock. Wells Fargo stated their Market Perform rating for the stock in a research note on September 23, 2016, with the firm’s price target at. Compass Point coverage for the Genworth Financial Inc. (GNW) stock in a research note released on May 05, 2016 offered a Buy rating with a price target of $5.25. Compass Point was of a view on February 08, 2016 that the stock is Buy, while Goldman gave the stock Neutral rating on November 17, 2015, issuing a price target of $5. UBS on their part issued Sell rating on November 04, 2015.