What Next for Genworth Financial, Inc. (GNW) After Forming Bullish Double Top Chart Pattern?

Genworth Financial, Inc. (NYSE:GNW) Logo

Investors sentiment increased to 1.08 in 2018 Q2. Its up 0.12, from 0.96 in 2018Q1. It increased, as 24 investors sold Genworth Financial, Inc. shares while 76 reduced holdings. 43 funds opened positions while 65 raised stakes. 298.21 million shares or 4.08% less from 310.88 million shares in 2018Q1 were reported.
Balyasny Asset Management Lc, Illinois-based fund reported 100,366 shares. Parallax Volatility Advisers L P holds 0% or 952 shares in its portfolio. Us Financial Bank De stated it has 0% in Genworth Financial, Inc. (NYSE:GNW). Highlander Capital Mngmt Limited Liability Co holds 0.01% or 3,975 shares in its portfolio. Zeke Cap reported 0.02% in Genworth Financial, Inc. (NYSE:GNW). Brigade Mgmt Ltd Partnership reported 0.03% stake. California Pub Employees Retirement Sys invested in 1.95M shares or 0.01% of the stock. Asset Management owns 37,313 shares. Teachers Retirement Sys Of The State Of Kentucky accumulated 114,160 shares or 0.01% of the stock. Stratos Wealth Prns Ltd stated it has 18,854 shares or 0% of all its holdings. State Of New Jersey Common Pension Fund D holds 3.40M shares. Atria Invests Ltd holds 0.01% or 41,672 shares in its portfolio. 143,130 are owned by Gam Ag. Fmr Ltd Llc stated it has 15.40 million shares. Walleye Trading reported 55,973 shares.

The chart of Genworth Financial, Inc. (GNW) shows a double top with $4.50 target or 4.00 % above today’s $4.33 share price. The 5 months chart pattern indicates low risk for the $2.17B company. It was reported on Dec, 6 by Finviz.com. If the $4.50 price target is reached, the company will be worth $86.72 million more. Double tops are rare but powerful chart patterns.

The stock decreased 4.84% or $0.22 during the last trading session, reaching $4.33. About 5.15 million shares traded or 35.17% up from the average. Genworth Financial, Inc. (NYSE:GNW) has risen 14.11% since December 6, 2017 and is uptrending. It has underperformed by 1.51% the S&P500.

Analysts await Genworth Financial, Inc. (NYSE:GNW) to report earnings on February, 5. They expect $0.23 EPS, down 64.62 % or $0.42 from last year’s $0.65 per share. GNW’s profit will be $115.16 million for 4.71 P/E if the $0.23 EPS becomes a reality. After $0.29 actual EPS reported by Genworth Financial, Inc. for the previous quarter, Wall Street now forecasts -20.69 % negative EPS growth.

Genworth Financial, Inc. (NYSE:GNW) Ratings Coverage

Among 2 analysts covering Genworth Financial (NYSE:GNW), 0 have Buy rating, 0 Sell and 2 Hold. Therefore 0 are positive. Genworth Financial had 2 analyst reports since June 11, 2018 according to SRatingsIntel. The rating was maintained by BTIG Research on Monday, June 11 with “Hold”. The firm earned “Market Perform” rating on Monday, June 11 by Wells Fargo.

Genworth Financial, Inc. provides insurance and homeownership solutions in the United States and internationally. The company has market cap of $2.17 billion. It operates through five divisions: U.S. It has a 2.71 P/E ratio. Mortgage Insurance, Canada Mortgage Insurance, Australia Mortgage Insurance, U.S.

Genworth Financial, Inc. (NYSE:GNW) Institutional Positions Chart

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