genworth financial inc-cl a
(GNW:New York)
genworth financial inc-cl a (GNW) Snapshot
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Open
$10.82
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Previous Close
$10.78
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Day High
$10.85
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Day Low
$10.61
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52 Week High
05/15/13 - $11.13
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52 Week Low
08/2/12 - $4.06
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Market Cap
5.3B
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Average Volume 10 Days
9.5M
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EPS TTM
$0.95
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Shares Outstanding
492.7M
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EX-Date
11/6/08
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P/E TM
11.3x
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Dividend
--
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Dividend Yield
--
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Related News
genworth financial inc-cl a (GNW) Related Businessweek News
genworth financial inc-cl a (GNW) Details
Genworth Financial, Inc., a financial services company, provides insurance, wealth management, investment, and financial solutions in the United States and internationally. The company's U.S. Life Insurance segment offers and manages various life insurance, long-term care insurance, and fixed annuity products. Its International Mortgage Insurance segment provides mortgage insurance products and related services in Canada and Australia and also participates in select European and other countries. This segment’s products insure prime-based, individually underwritten residential mortgage loans, also known as flow mortgage insurance. The company's U.S. Mortgage Insurance segment offers mortgage insurance products insuring prime-based, individually underwritten residential mortgage loans, also known as flow mortgage insurance. Its International Protection segment provides payment protection coverages in multiple European countries. This segment’s lifestyle protection insurance products primarily help consumers meet specified payment obligations should they become unable to pay due to accident, illness, involuntary unemployment, disability, or death. The company's Wealth Management segment offers and manages wealth management products that include managed account programs together with advisor support and financial planning services. Its Runoff segment covers non-strategic products, which primarily include variable annuity, variable life insurance, institutional, corporate-owned life insurance, and Medicare supplement insurance products. This segment’s institutional products consist of funding agreements, funding agreements backing notes, and guaranteed investment contracts. Genworth Financial, Inc. distributes its products and services through financial intermediaries, advisors, independent distributors, affinity groups, and dedicated sales specialists. The company was founded in 2003 and is headquartered in Richmond, Virginia.
genworth financial inc-cl a (GNW) Top Compensated Officers
genworth financial inc-cl a (GNW) Key Developments
Genworth Financial Inc. announced that it will expand its Life Quick Request(SM) (LQR) platform to include its soon-to-be-released index universal life insurance (IUL) product, making it the only IUL product in the industry available on a comprehensive front-to-back electronic platform that features electronic ticket drop, fulfillment and policy delivery. Genworth's Life Quick Request significantly streamlines the life insurance application and fulfillment cycle, cutting processing times in half -- to 13 days for term life insurance cases and 16 days for universal life cases. Life Quick Request can also increase placement rate by up to 8%. To complement its LQR platform, Genworth recently launched ePolicy Delivery and check image deposit. ePolicy Delivery is an electronic policy delivery workflow for life insurance products, which during the pilot period reduced delivery cycle times from 25 days to an average of eight days and, in some cases, a matter of hours.
Annual Meeting of Stockholders
Genworth Financial Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported net income of $103 million or $0.21 per diluted share compared with net income of $46 million or $0.09 per diluted share in the first quarter of 2012. Net operating income was $151 million or $0.30 per diluted share compared with net operating income of $17 million or $0.03 per diluted share, in the first quarter of 2012. Book value per share was $32.90 against $29.89 a year ago. Total revenues were $2,303 million against $2,315 million a year ago. Income from continuing operations before income taxes was $237 million against $82 million a year ago. Income from continuing operations was $161 million against $67 million a year ago. Basic and diluted income from continuing operations available to company's common stockholders was $0.25 against $0.07 a year ago. The company still expects that annual overall earnings will increase in 2013 over 2012 as U.S. Mortgage Insurance business recovery continues. Assuming no significant deterioration in the U.S. housing market or material economic downturns, overall performance in U.S. MI should be much improved over 2012, given the 2009 and the forward books of business should comprise 40% to 45% of the risk in force by the end of the year. International Mortgage Insurance earnings should be generally stable as those businesses operate in steady economic environments with quality portfolios and continue to maintain margins. While the U.S. Life Insurance Division faces headwinds, such as the low interest rate environment, it is taking actions should improve performance in future years, such as the long-term care insurance rate actions and the rollout of a new long-term care and life insurance products. After adjusting for last year's life block transactions, the company expects that overall U.S. Life Insurance Division earnings in 2013 will be comparable to those of 2012. Finally, the company expects that the Corporate and Other division quarterly results for the remainder of this year should be down slightly from the first quarter results, given the good equity market performance saw in the quarter.
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Industry Analysis
GNW
Industry Average
| Valuation | GNW | Industry Range |
| Price/Earnings | 12.9x |
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| Price/Sales | 0.5x |
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| Price/Book | 0.3x |
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| Price/Cash Flow | 14.0x |
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| TEV/Sales | NM | Not Meaningful |
Post a JobJobs
- Pleasant Hill, CA | Genworth FinancialPosted: May 19
- Encino, CA | Genworth FinancialPosted: May 18
- Richmond, VA | Genworth FinancialPosted: May 16
- Portland, OR | Genworth FinancialPosted: May 15
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To contact GENWORTH FINANCIAL INC-CL A, please visit www.genworth.com. Company data is provided by Capital IQ. Please use this form to report any data issues.
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