QUOTE AND NEWS
Forbes  Sep 14  Comment 
In trading on Wednesday, shares of Genworth MI Canada Inc (Toronto: MIC) were yielding above the 5% mark based on its quarterly dividend (annualized to $1.68), with the stock changing hands as low as $33.58 on the day. Dividends are particularly...
Benzinga  Sep 1  Comment 
Keefe, Bruyette & Woods analyzed the bull and bear cases for Genworth Financial Inc (NYSE: GNW) after the stock gained due to its second-quarter EPS beat. However, the analysts maintain its Market Perform rating and $3.5 target price on the...
newratings.com  Aug 31  Comment 
ADVA Optical Networking SE: Publication pursuant to §26a WpHG (the German Securities Trading Act) with the aim of pan-European distribution ADVA Optical Networking SE / ADVA Optical Networking SE: Publication pursuant to §26a WpHG (the German...
Motley Fool  Aug 3  Comment 
The insurance company smashed analyst expectations for the second quarter of 2016.
MarketWatch  Aug 2  Comment 
Genworth Financial Inc. shares rallied in the extended session Tuesday after the insurer topped Wall Street estimates for the quarter. Genworth shares jumped 18% to $3.25 a share after hours. The company reported fiscal second-quarter net...
newratings.com  Aug 2  Comment 
WASHINGTON (dpa-AFX) - Genworth Financial Inc. (GNW) announced a profit for its second quarter that increased compared to the same period last year. The company said its bottom line climbed to $123 million, or $0.25 per share. This was higher...
newratings.com  Jul 18  Comment 
Bellevue Group reports a profit of close to CHF 3 million after tax for the first half year 2016 Bellevue Group AG / Bellevue Group reports a profit of close to CHF 3 million after tax for the first half year 2016 . Processed and transmitted...




 
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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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