We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Genworth Financial Poised To Grow On Strategic Initiatives (Revised)
Read MoreHide Full Article
Genworth Financial, Inc. (GNW - Free Report) saw its shares gaining 60.42% over the last one year, significantly outperforming the Life Insurance industry’s growth of 21.09%. The company remains poised for growth owing to a number of positives.
Genworth offers insurance and homeownership solutions in the U.S. and worldwide. The company has maintained its industry-leading position in the nation through the diversification of its international presence. The insurer caters to life and lifestyle protection, retirement income, and the investment and mortgage insurance needs of its customers.
The life insurer remains optimistic about its pending acquisition by China Ocenawide, which is expected to improve value for its customers through better services than what Genworth currently offers. Therefore, Genworth is set to reap benefits from this buyout, which in turn, will accelerate its growth in the long term. Genworth will remain focused toward its key financial priorities of strengthening the balance sheet and stabilizing and improving ratings over time, particularly in its U.S. MI business
Moreover, the Zacks Rank #2 (Buy) life insurer’s mortgage insurance segment has been generating profits after incurring losses over a extended period. This apart, the company’s U.S. Mortgage Insurance business has been displaying better results, mainly driven by lower new delinquency development and effective loss mitigation programs as well as changes in aging of existing delinquencies.
In addition, Genworth aimed to lower cash expenses by $150 million by the end of 2016 in U.S. Life Insurance. Also, the company is intensifying focus on streamlining and rationalizing business to mainly improve performance, enhance financial and strategic flexibility.
Interestingly, Genworth Financial carries a VGM score of A. Here V stands for Value, G for Growth and M for Momentum and the score is a weighted combination of these three scores. The company also has witnessed 2017 estimates moving up by 1.1% in the last 60 days.
Other Stocks to Consider
Investors interested in the same space might consider other well-ranked stocks like Health Insurance Innovations, Inc. , Fidelity & Guaranty Life and Lincoln National Corporation (LNC - Free Report) .
Health Insurance Innovations operates as a developer, distributor, and administrator of cloud-based individual health and family insurance plans, and supplemental products in the U.S. The company delivered positive surprises in all of the last four quarters with an average beat of 270.84%. It sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Fidelity & Guaranty Life offers annuities and life insurance products in the United States. The company delivered positive surprises in one of the last four quarters with an average beat of 7.55%. The company sports a Zacks Rank #1.
Lincoln National deals in multiple insurance and retirement businesses in the United States. The company has delivered positive surprises in one of the last four quarters, but with an average miss of 0.81%. The company holds a Zacks Rank #2.
(We are reissuing this article to correct a mistake. The original article, issued on Jan 9, 2017, should no longer be relied upon.)
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Genworth Financial Poised To Grow On Strategic Initiatives (Revised)
Genworth Financial, Inc. (GNW - Free Report) saw its shares gaining 60.42% over the last one year, significantly outperforming the Life Insurance industry’s growth of 21.09%. The company remains poised for growth owing to a number of positives.
Genworth offers insurance and homeownership solutions in the U.S. and worldwide. The company has maintained its industry-leading position in the nation through the diversification of its international presence. The insurer caters to life and lifestyle protection, retirement income, and the investment and mortgage insurance needs of its customers.
The life insurer remains optimistic about its pending acquisition by China Ocenawide, which is expected to improve value for its customers through better services than what Genworth currently offers. Therefore, Genworth is set to reap benefits from this buyout, which in turn, will accelerate its growth in the long term. Genworth will remain focused toward its key financial priorities of strengthening the balance sheet and stabilizing and improving ratings over time, particularly in its U.S. MI business
Moreover, the Zacks Rank #2 (Buy) life insurer’s mortgage insurance segment has been generating profits after incurring losses over a extended period. This apart, the company’s U.S. Mortgage Insurance business has been displaying better results, mainly driven by lower new delinquency development and effective loss mitigation programs as well as changes in aging of existing delinquencies.
In addition, Genworth aimed to lower cash expenses by $150 million by the end of 2016 in U.S. Life Insurance. Also, the company is intensifying focus on streamlining and rationalizing business to mainly improve performance, enhance financial and strategic flexibility.
Interestingly, Genworth Financial carries a VGM score of A. Here V stands for Value, G for Growth and M for Momentum and the score is a weighted combination of these three scores. The company also has witnessed 2017 estimates moving up by 1.1% in the last 60 days.
Other Stocks to Consider
Investors interested in the same space might consider other well-ranked stocks like Health Insurance Innovations, Inc. , Fidelity & Guaranty Life and Lincoln National Corporation (LNC - Free Report) .
Health Insurance Innovations operates as a developer, distributor, and administrator of cloud-based individual health and family insurance plans, and supplemental products in the U.S. The company delivered positive surprises in all of the last four quarters with an average beat of 270.84%. It sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Fidelity & Guaranty Life offers annuities and life insurance products in the United States. The company delivered positive surprises in one of the last four quarters with an average beat of 7.55%. The company sports a Zacks Rank #1.
Lincoln National deals in multiple insurance and retirement businesses in the United States. The company has delivered positive surprises in one of the last four quarters, but with an average miss of 0.81%. The company holds a Zacks Rank #2.
(We are reissuing this article to correct a mistake. The original article, issued on Jan 9, 2017, should no longer be relied upon.)