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

Principal Financial Group Inc. trimmed its holdings in Genworth Financial, Inc. (NYSE:GNW) by 5.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,036,607 shares of the financial services provider’s stock after selling 122,398 shares during the period. Principal Financial Group Inc. owned about 0.48% of Genworth Financial worth $13,951,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Barclays PLC raised its holdings in Genworth Financial by 291.2% in the third quarter. Barclays PLC now owns 744,853 shares of the financial services provider’s stock valued at $5,103,000 after acquiring an additional 554,462 shares in the last quarter. Y Intercept Hong Kong Ltd raised its stake in shares of Genworth Financial by 12.5% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 117,351 shares of the financial services provider’s stock valued at $804,000 after purchasing an additional 13,042 shares in the last quarter. XTX Topco Ltd lifted its position in shares of Genworth Financial by 33.4% during the third quarter. XTX Topco Ltd now owns 125,438 shares of the financial services provider’s stock worth $859,000 after purchasing an additional 31,379 shares during the last quarter. Kovitz Investment Group Partners LLC acquired a new position in Genworth Financial in the third quarter worth about $142,000. Finally, Whitefort Capital Management LP increased its holdings in Genworth Financial by 49.6% in the third quarter. Whitefort Capital Management LP now owns 2,986,960 shares of the financial services provider’s stock valued at $20,461,000 after buying an additional 990,000 shares during the last quarter. 81.85% of the stock is currently owned by hedge funds and other institutional investors.

Genworth Financial Trading Down 1.8 %

Genworth Financial stock opened at $6.97 on Friday. Genworth Financial, Inc. has a 1 year low of $5.67 and a 1 year high of $7.90. The firm’s 50-day moving average is $7.24 and its 200-day moving average is $6.81. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market cap of $2.98 billion, a P/E ratio of 33.19 and a beta of 0.99.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Genworth Financial from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th.

About Genworth Financial

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.