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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...
Benzinga  Oct 1  Comment 
Analysts at Macquarie upgraded Genworth Financial (NYSE: GNW) from Neutral to Outperform. The target price for Genworth Financial has been lowered from $17 to $16. Genworth Financial shares have gained 1.95% over the past 52 weeks, while the...
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Bellevue Group concludes acquisition of Adamant Biomedical Investments AG from Zürcher Kantonalbank Bellevue Group AG / Bellevue Group concludes acquisition of Adamant Biomedical Investments AG from Zürcher Kantonalbank . Processed and...
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Notification in accordance with section 26 paragraph 1 WpHG with the objective of Europe-wide distribution ADVA Optical Networking SE / Notification in accordance with section 26 paragraph 1 WpHG with the objective of Europe-wide distribution...
Motley Fool  Sep 29  Comment 
With one of the cheapest valuations in the market and a huge future opportunity, maybe it's time to take a change on the long-term care leader.




 
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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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