Stock Update (NYSE:GNW): Genworth Financial Inc Completes Redemption Of Outstanding 2016 Senior Notes

Genworth Financial Inc (NYSE:GNW) announced that it has completed the redemption of all $298 million aggregate principal amount of its outstanding 8.625% Senior Notes (the Notes) due 2016. Cash used for the redemption was approximately $321 million, which included the aggregate principal amount of the Notes being redeemed, plus a make-whole premium and accrued and unpaid interest to, but excluding, the redemption date. (Original Source)

Shares of Genworth Financial closed today at $2.35, down $0.13 or -5.24%. GNW has a 1-year high of $9.19 and a 1-year low of $2.24. The stock’s 50-day moving average is $3.68 and its 200-day moving average is $5.03.

On the ratings front, Genworth Financial has been the subject of a number of recent research reports. In a report issued on November 4, UBS analyst Suneet Kamath downgraded GNW to Sell, with a price target of $4.25, which implies an upside of 81% from current levels. Separately, on November 2, Compass Point’s Kenneth Billingsley reiterated a Buy rating on the stock and has a price target of $7.50.

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Suneet Kamath and Kenneth Billingsley have a total average return of 3.7% and -10.8% respectively. Kamath has a success rate of 54.2% and is ranked #1049 out of 3582 analysts, while Billingsley has a success rate of 42.6% and is ranked #3299.

Genworth Financial Inc is a financial security company. It provides insurance, wealth management, investment and financial solutions.


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