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Genworth Financial, Inc. Message Board

  • su_dongpo su_dongpo Mar 28, 2013 10:06 AM Flag

    S and P maintains buy on GNW

    S&P KEEPS BUY OPINION ON SHARES OF GENWORTH FINANCIAL
    We raise our target price to $12 from $10 on our revised P/E analysis. GNW annouced that it would sell its Wealth Management business to a partnership of Aquiline Capital Partners and Genstar Capital for about $413 million. We expect the transaction, subject to customary closing conditions, to close in the second quarter of 2013. We see management using the proceeds to reduce leverage and believe the disposition will allow the company to focus more attention on core life insurance and mortgage insurance businesses.

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