NEW YORK, October 31, 2016 /PRNewswire/ --
Focus today is on the global Life Insurance space, which is expected to continue improving over the next five years due to demand driven by rising disposable income levels. The Global Life and Health Insurance Industry revenue is also forecasted to rise 3.8% to $3.9 trillion this year. Pre-market, Stock-Callers.com takes a look at the performances of Genworth Financial Inc. (NYSE: GNW), MetLife Inc. (NYSE: MET), ING Groep N.V. (NYSE: ING), and Prudential Financial Inc. (NYSE: PRU). Download the free research reports on these stocks today:
Virginia headquartered Genworth Financial Inc.'s stock finished last Friday's session 7.66% lower at $3.98. A total volume of 19.31 million shares was traded, which was above their three months average volume of 10.44 million shares. The Company's shares have gained 42.14% over the previous three months and 6.70% on an YTD basis. The stock is trading above its 200-day moving average by 17.58%. Additionally, shares of Genworth Financial, which provides insurance and homeownership solutions in the US and internationally, have a Relative Strength Index (RSI) of 23.60.
On October 23rd, 2016, China Oceanwide Holdings Group Co., Ltd. announced that it will acquire all of the outstanding shares of Genworth Financial for a total transaction value of approximately $2.7 billion, or $5.43 per share in cash. As part of the transaction, China Oceanwide has additionally committed to contribute to Genworth $600 million of cash to address the debt maturing in 2018, on or before its maturity, as well as $525 million of cash to the U.S. life insurance businesses. See our free and comprehensive research report on GNW at:
On Friday, shares in New York-based MetLife Inc. ended the session 1.49% lower at $46.98. The stock recorded a trading volume of 7.49 million shares, which was higher than its three months average volume of 7.09 million shares. The Company's shares have gained 7.60% in the last one month, 11.43% in the previous three months, and 0.13% on an YTD basis. The stock is trading 5.68% above its 50-day moving average and 10.46% above its 200-day moving average. Moreover, shares of MetLife, which provides life insurance, annuities, employee benefits, and asset management products in the US, Japan, Latin America, Asia, Europe, and the Middle East, have an RSI of 58.18.
On October 7th, 2016, research firm Credit Suisse initiated a 'Neutral' rating on the Company's stock.
On October 25th, 2016, MetLife announced that its board of directors has declared a Q4 2016 common stock dividend of $0.40 per share. The dividend will be payable on December 13th, 2016, to shareholders of record as of November 7th, 2016. MET free research report PDF is just a click away at:
The Netherlands-based ING Groep N.V.'s stock gained 0.15%, closing the session at $13.13. A total volume of 3.73 million shares was traded, which was above their three months average volume of 2.55 million shares. The Company's shares have gained 10.62% in the last one month, 23.02% over the previous three months, and 3.65% since the start of this year. The stock is trading 5.82% and 14.04% above its 50-day and 200-day moving averages, respectively. Additionally, shares of ING Groep, which operates as a financial services company that provides banking, investments, life insurance, and retirement services worldwide, have an RSI of 64.14.
On October 3rd, 2016, Bloomberg reported that ING Groep plans to eliminate about 5,800 jobs, or 11% of its workforce, as the largest Dutch lender seeks to cut costs and accelerate its digital transformation. As per the article, the bank expects to save about 900 million euros ($1 billion) a year through the program, which includes about 2,300 cuts in the Netherlands and about 3,500 reductions in Belgium, over five years. Sign up for your complimentary report on ING at:
On Friday, New Jersey headquartered Prudential Financial Inc.'s stock recorded a trading volume of 2.46 million shares, and ended the day 0.32% lower at $84.50. The Company's shares have advanced 5.66% in the past month, 13.93% over the previous three months, and 6.84% since the start of this year. The stock is trading above its 50-day and 200-day moving averages by 4.45% and 14.07%, respectively. Furthermore, shares of Prudential Financial, which through its subsidiaries, provides insurance, investment management, and other financial products and services in the US and internationally, have an RSI of 58.59.
On October 18th, 2016, research firm FBR & Co. downgraded the Company's stock rating from 'Outperform' to 'Market Perform', issuing a target price of $86 per share.
On October 24th, 2016, Prudential Advisors President Caroline Feeney was named P&L Executive of the Year by the National Association for Female Executives' 2016 Women of Excellence Awards. Feeney also serves as head of Prudential Financial's enterprise-wide multicultural marketing initiative. Register for free on Stock-Callers.com and download the latest research report on PRU at:
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