General Electric’s initial public offering of its insurance unit, Genworth Financial, got a slow start out of the gate, with its initial price of $19.50 falling below the company estimates of $21 to $23 per share. The company raised only $2.83 billion, half-a-billion less than earlier estimates of $3.34 billion.

Trading went as low as $18.75 soon after it opened but has leveled off at $19.50.

"I don't think [Genworth has] got great upside," Frederic Burke, president of Johnston Lemon Asset Management, told Reuters. "It's not a Google."


Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.