Principal Financial Group Inc. Grows Position in Genworth Financial, Inc. (NYSE:GNW)

Principal Financial Group Inc. lifted its position in Genworth Financial, Inc. (NYSE:GNW) by 2.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,126,240 shares of the financial services provider’s stock after purchasing an additional 55,085 shares during the quarter. Principal Financial Group Inc. owned about 0.51% of Genworth Financial worth $15,075,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Jones Financial Companies Lllp acquired a new stake in shares of Genworth Financial during the 4th quarter worth approximately $41,000. Byrne Asset Management LLC boosted its holdings in Genworth Financial by 69.5% during the first quarter. Byrne Asset Management LLC now owns 7,595 shares of the financial services provider’s stock worth $54,000 after buying an additional 3,115 shares in the last quarter. Pennington Partners & CO. LLC acquired a new stake in Genworth Financial during the fourth quarter valued at $84,000. Landscape Capital Management L.L.C. acquired a new stake in Genworth Financial during the fourth quarter valued at $85,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in Genworth Financial during the fourth quarter valued at $86,000. 81.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Keefe, Bruyette & Woods raised their price target on shares of Genworth Financial from $9.00 to $9.50 and gave the company an “outperform” rating in a research report on Wednesday. Wall Street Zen lowered shares of Genworth Financial from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd.

Genworth Financial Trading Down 1.6%

GNW stock opened at $7.30 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.16. Genworth Financial, Inc. has a 12-month low of $5.99 and a 12-month high of $8.08. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of 14.59 and a beta of 1.06. The business’s 50-day moving average is $7.26 and its 200 day moving average is $7.02.

Genworth Financial (NYSE:GNW) last posted its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.09). The business had revenue of $1.76 billion for the quarter. Genworth Financial had a return on equity of 2.53% and a net margin of 2.97%.

Genworth Financial Profile

Genworth Financial, Inc, together with its subsidiaries, provides mortgage and long-term care insurance products in the United States and internationally. It operates in three segments: Enact, Long-Term Care Insurance, and Life and Annuities. The Enact segment offers private mortgage insurance products primarily insuring prime-based, individually underwritten residential mortgage loans; and pool mortgage insurance products.