Principal Financial Group Inc. Trims Stock Position in Genworth Financial, Inc. $GNW

Principal Financial Group Inc. trimmed its holdings in Genworth Financial, Inc. (NYSE:GNW) by 3.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,981,948 shares of the financial services provider’s stock after selling 72,921 shares during the period. Principal Financial Group Inc. owned approximately 0.48% of Genworth Financial worth $17,639,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. American Century Companies Inc. boosted its stake in Genworth Financial by 10.0% during the second quarter. American Century Companies Inc. now owns 8,863,036 shares of the financial services provider’s stock worth $68,954,000 after buying an additional 806,502 shares during the period. Invesco Ltd. grew its stake in shares of Genworth Financial by 41.0% in the second quarter. Invesco Ltd. now owns 4,291,220 shares of the financial services provider’s stock valued at $33,386,000 after buying an additional 1,248,374 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Genworth Financial by 28.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,523,537 shares of the financial services provider’s stock valued at $27,413,000 after buying an additional 774,010 shares during the period. Norges Bank purchased a new position in Genworth Financial during the 2nd quarter valued at about $26,992,000. Finally, Cubist Systematic Strategies LLC grew its position in Genworth Financial by 4.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,835,764 shares of the financial services provider’s stock valued at $14,282,000 after acquiring an additional 70,157 shares in the last quarter. Hedge funds and other institutional investors own 81.85% of the company’s stock.

Genworth Financial Stock Up 0.8%

Shares of NYSE:GNW opened at $9.02 on Monday. Genworth Financial, Inc. has a fifty-two week low of $5.99 and a fifty-two week high of $9.28. The firm’s 50 day moving average price is $8.75 and its 200 day moving average price is $8.61. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.15. The stock has a market cap of $3.60 billion, a price-to-earnings ratio of 17.02 and a beta of 1.01.

Analyst Ratings Changes

Several analysts have recently issued reports on GNW shares. Weiss Ratings cut shares of Genworth Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, January 20th. Wall Street Zen upgraded shares of Genworth Financial from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $10.00.

Genworth Financial Company Profile

Genworth Financial (NYSE: GNW) is a leading financial security company offering a broad range of insurance products. Based in Richmond, Virginia, Genworth provides individuals and families with solutions designed to protect against long-term care expenses, secure life insurance needs and support homeownership through private mortgage insurance. With operations spanning the United States, Canada and Australia, the company serves both retail and institutional clients through a diversified portfolio of risk management services.

The company’s Private Mortgage Insurance (PMI) segment offers coverage to lenders and consumers in the US, Canada and Australia, enabling homebuyers to purchase properties with lower down payments.