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TheStreet.com  Oct 21  Comment 
By Mike Yamamoto ofaOptionMonster NEW YORK -- Option traders are looking for a good earnings report from Genworth Financial following a huge selloff last summer.a OptionMonster's Heat Seeker tracking system shows that more than 3,700 Weekly...
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Benzinga  Oct 13  Comment 
Genworth Financial Inc (NYSE: GNW) was upgraded by Keefe, Bruyette & Woods from Market Perform to Outperform with price target lowered from $16.50 to $16. Analysts led by Ryan Krueger based the change on an "overly discounted valuation and...
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Benzinga  Oct 1  Comment 
Analysts at Northland Securities upgraded Angie's List (NASDAQ: ANGI) from Underperform to Market Perform. The target price for Angie's List has been raised from $6.75 to $8. Angie's List shares closed at $6.37 yesterday. Analysts at Jefferies...




 
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Genworth Financial (NYSE: GNW) provides domestic and international mortgage insurance, long-term care insurance, and life insurance products. Genworth's exposure to some of the recently maligned companies (like Fannie Mae (FNM), Freddie Mac (FRE), American International Group (AIG), Lehman Brothers (LEH), and Washington Mutual (WM)) totals roughly $630 million.[1]

In February 2008, Genworth reported a $93 million write-down due to underestimated risk in its actuarial models as well as losses due to investments in subprime securities.[2] Over the past year, Genworth's stock has steadily fallen from a high of 31.77 per share to a low of 4.85 per share as of September 29, 2008.[3]

That said, the company has maintained its "AA" credit rating while many of its competitors have been reduced to "A" ratings.[4] It maintains approximately $800 million in cash and has a roughly $1.8 billion credit facility available.[5] The company has even continued to issue a $0.10 quarterly dividend.[6]




References

  1. "Genworth says it may spin off its mortgage insurance business, MarketWatch, September 30, 2008
  2. "Zacks Industry Rank Analysis Highlights: AIG, FLIR, GNW, LNC, and NOC", BNET, February 14, 2008
  3. Google Finance GNW Page
  4. "Deutsche Bank analyst: Genworth well-capitalized", Forbes, September 26, 2008
  5. "Conseco shares slump 40% on exposure to AIG, Lehman, WaMu, ShareBuilder, September 17, 2008
  6. Reuters Key Development GNW
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