genworth financial inc-cl a
(GNW:New York)
genworth financial inc-cl a (GNW) Snapshot
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Open
$11.36
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Previous Close
$11.39
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Day High
$11.48
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Day Low
$11.23
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52 Week High
06/19/13 - $11.48
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52 Week Low
08/2/12 - $4.06
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Market Cap
5.6B
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Average Volume 10 Days
7.6M
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EPS TTM
$1.05
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Shares Outstanding
492.7M
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EX-Date
11/6/08
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P/E TM
10.7x
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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 the expansion of its family of SecureLiving(R) Fixed Index Annuities to include a five-year, single premium, fixed deferred annuity with a 4% guaranteed minimum accumulation value. As a fixed annuity, the contract value is protected against downturns in the S&P 500(R) Index, meaning that all premium and interest credited can never be lost due to index decline. SecureLiving Index 5 goes one step further and guarantees 104% of the premium at the end of the surrender charge period, less adjustments for withdrawals, even if there is an extended down market. This important benefit is included in every contract at no additional cost. Beginning in the second year, contract owners may withdraw up to 10% of the contract value each year without incurring a surrender charge or market value adjustment. As an added measure of security, a bailout provision allows the annuity owner to withdraw the entire contract value of the annuity, without penalty, if the declared annual cap on the annual cap strategy falls below the contract's bailout cap. The bailout cap is declared at contract issue and will not change during the life of the contract. SecureLiving(R) Index 5 has six interest-crediting strategies: two fixed rate options and four index crediting rate options, including Genworth's patent-pending CapMax(SM) interest crediting methodology. Available exclusively on Genworth's SecureLiving(R) Index Annuities, the CapMax option provides the potential for the contract value to grow more quickly than with traditional index crediting methods in years of consecutive positive index growth. Each year, SecureLiving Index annuity contract owners can change their strategy allocations.
Genworth Financial Inc. announced an expense reduction plan as it continues to work on improving the operating performance of its businesses. This plan will eliminate approximately 400 positions, including 150 open positions that will not be filled, and will reduce related information technology and program spend. When fully implemented, the company expects to realize approximately $80 to $90 million in annual pre-tax expense savings primarily related to these actions. Overall expense levels may vary for a variety of reasons, including changes in sales volume or other strategic actions the company may take. A pre-tax non-operating charge of approximately $15 to $20 million will be recorded in the second quarter of 2013 reflecting severance, outplacement and other associated costs.
Genworth Financial Inc. announced the launch of its Index Universal Life (IUL) insurance product, which combines a death benefit with tax-deferred cash accumulation and an optional Accelerated Benefit Rider for Long Term Care Services. Genworth developed its new Asset Builder IUL in response to consumers' demand for life insurance that is flexible enough to meet multiple needs in a single product. It also addresses consumers' desire for more growth potential than is currently available with traditional fixed life insurance products and less risk than variable universal life insurance. The result was an index UL insurance product that combines a death benefit for beneficiaries with: The opportunity for greater policy value growth by linking the crediting strategy with the S&P 500(R) Index. Protection from market downside: Even if the percentage change in the S&P 500(R) Index is negative, the minimum crediting rate is 0%. Monthly charges and fees will continue regardless of the crediting rate and will reduce policy value. Optional Accelerated Benefit Rider for Long Term Care Services, available at an additional cost.

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Industry Analysis
GNW
Industry Average
| Valuation | GNW | Industry Range |
| Price/Earnings | 13.7x |
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| Price/Sales | 0.6x |
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| Price/Book | 0.3x |
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| Price/Cash Flow | 14.8x |
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| TEV/Sales | NM | Not Meaningful |
Post a JobJobs
- Raleigh, NC | GenworthPosted: Apr 05
- Richmond, VA | Genworth FinancialPosted: Jun 16
- Raleigh, NC | Genworth FinancialPosted: Jun 16
- Richmond, VA | Genworth FinancialPosted: Jun 16
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