Principal Financial Group Inc. Sells 122,398 Shares of Genworth Financial, Inc. (NYSE:GNW)

Principal Financial Group Inc. cut its position in shares of Genworth Financial, Inc. (NYSE:GNW) by 5.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 0.47% of Genworth Financial worth $13,951,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of GNW. Covestor Ltd boosted its holdings in Genworth Financial by 11.5% during the first quarter. Covestor Ltd now owns 18,131 shares of the financial services provider’s stock valued at $117,000 after purchasing an additional 1,868 shares in the last quarter. Sage Rhino Capital LLC boosted its stake in Genworth Financial by 9.8% in the 2nd quarter. Sage Rhino Capital LLC now owns 21,899 shares of the financial services provider’s stock valued at $132,000 after buying an additional 1,950 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Genworth Financial by 72.1% in the second quarter. EverSource Wealth Advisors LLC now owns 4,828 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 2,022 shares during the period. RMR Wealth Builders grew its position in Genworth Financial by 20.2% in the second quarter. RMR Wealth Builders now owns 12,620 shares of the financial services provider’s stock valued at $76,000 after acquiring an additional 2,120 shares during the period. Finally, Inspire Investing LLC raised its stake in Genworth Financial by 4.0% during the second quarter. Inspire Investing LLC now owns 57,835 shares of the financial services provider’s stock worth $349,000 after acquiring an additional 2,241 shares in the last quarter. 81.85% of the stock is currently owned by institutional investors.

Genworth Financial Stock Performance

NYSE GNW opened at $7.35 on Friday. Genworth Financial, Inc. has a 1-year low of $5.67 and a 1-year high of $7.48. The company has a 50 day moving average of $6.90 and a 200-day moving average of $6.58. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.17. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of 35.00 and a beta of 0.95.

Insider Buying and Selling

In other Genworth Financial news, CEO Thomas J. Mcinerney sold 150,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $6.88, for a total value of $1,032,000.00. Following the completion of the sale, the chief executive officer now owns 4,532,954 shares in the company, valued at approximately $31,186,723.52. This trade represents a 3.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Genworth Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th.

Genworth Financial Company 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.