Genworth Financial (GNW) Receives a Hold from BTIG


BTIG analyst Mark Palmer maintained a Hold rating on Genworth Financial (GNW) today. The company’s shares closed last Friday at $3.93.

According to TipRanks.com, Palmer is a 5-star analyst with an average return of 13.6% and a 63.7% success rate. Palmer covers the Financial sector, focusing on stocks such as International Money Express, Oportun Financial, and MGIC Investment.

The word on The Street in general, suggests a Hold analyst consensus rating for Genworth Financial.

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Based on Genworth Financial’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $2.15 billion and GAAP net loss of $441 million. In comparison, last year the company earned revenue of $1.99 billion and had a net profit of $168 million.

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Genworth Financial, Inc. is a financial services company, which engages in the provision of insurance, wealth management, investment and financial solutions. It operates through the following 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 predominantly insuring prime-based, individually underwritten residential mortgage loans. The Canada Mortgage Insurance segment offers flow mortgage insurance and also provides bulk mortgage insurance that aids in the sale of mortgages to the capital markets and helps lenders manage capital and risk in Canada. The Australia Mortgage Insurance segment offers flow mortgage insurance and selectively provides bulk mortgage insurance that aids in the sale of mortgages to the capital markets and helps lenders manage capital and risk. The U.S. Life Insurance segment offers long-term care insurance products as well as service traditional life insurance and fixed annuity products in the United States. The Runoff segment includes the results of non-strategic products which are no longer actively sold but continue to service its existing blocks of business. Its non-strategic products primarily include variable annuity, variable life insurance, institutional, corporate-owned life insurance and other accident and health insurance products. The company was founded in1871 and is headquartered in Richmond, VA.

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