Genworth Financial, Inc. $GNW Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its holdings in shares of Genworth Financial, Inc. (NYSE:GNW) by 3.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,981,948 shares of the financial services provider’s stock after selling 72,921 shares during the quarter. Principal Financial Group Inc.’s holdings in Genworth Financial were worth $17,639,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Norges Bank acquired a new position in Genworth Financial in the second quarter valued at approximately $26,992,000. Invesco Ltd. lifted its position in shares of Genworth Financial by 41.0% during the 2nd quarter. Invesco Ltd. now owns 4,291,220 shares of the financial services provider’s stock worth $33,386,000 after buying an additional 1,248,374 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Genworth Financial by 10.0% during the 2nd 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 last quarter. Arrowstreet Capital Limited Partnership boosted 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 in the last quarter. Finally, Hudson Bay Capital Management LP purchased a new position in shares of Genworth Financial in the 2nd quarter valued at $5,616,000. 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 1-year low of $5.99 and a 1-year high of $9.28. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.29 and a quick ratio of 0.29. The stock has a market cap of $3.60 billion, a P/E ratio of 17.02 and a beta of 1.01. The firm has a fifty day moving average price of $8.75 and a 200 day moving average price of $8.61.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in 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 Genworth Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.