Principal Financial Group Inc. Decreases Stake in Genworth Financial, Inc. (NYSE:GNW)

Principal Financial Group Inc. lowered its position in Genworth Financial, Inc. (NYSE:GNW – Get Rating) by 2.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,033,876 shares of the financial services provider’s stock after selling 71,024 shares during the period. Principal Financial Group Inc.’s holdings in Genworth Financial were worth $16,049,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Formidable Asset Management LLC raised its holdings in Genworth Financial by 1.6% in the 3rd quarter. Formidable Asset Management LLC now owns 428,975 shares of the financial services provider’s stock valued at $1,545,000 after acquiring an additional 6,881 shares during the last quarter. Swiss National Bank increased its position in shares of Genworth Financial by 0.5% during the fourth quarter. Swiss National Bank now owns 1,216,286 shares of the financial services provider’s stock valued at $6,434,000 after acquiring an additional 5,700 shares during the last quarter. Donald Smith & CO. Inc. boosted its position in shares of Genworth Financial by 6.5% during the third quarter. Donald Smith & CO. Inc. now owns 18,416,792 shares of the financial services provider’s stock worth $64,459,000 after buying an additional 1,129,777 shares during the period. Duality Advisers LP purchased a new position in shares of Genworth Financial during the third quarter worth $72,000. Finally, Monaco Asset Management SAM boosted its position in shares of Genworth Financial by 102.2% during the fourth quarter. Monaco Asset Management SAM now owns 835,000 shares of the financial services provider’s stock worth $4,417,000 after buying an additional 421,985 shares during the period. Institutional investors and hedge funds own 75.91% of the company’s stock.

Insider Activity at Genworth Financial

In related news, CEO Thomas J. Mcinerney sold 125,000 shares of the stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $5.52, for a total value of $690,000.00. Following the transaction, the chief executive officer now owns 4,649,974 shares of the company’s stock, valued at $25,667,856.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.99% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Genworth Financial in a research report on Thursday, May 18th. They set a “hold” rating on the stock.

Genworth Financial Stock Up 0.2 %

Genworth Financial stock opened at $5.50 on Wednesday. Genworth Financial, Inc. has a twelve month low of $3.43 and a twelve month high of $6.40. The firm has a market capitalization of $2.63 billion, a P/E ratio of 5.39 and a beta of 1.03. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.19. The stock’s fifty day simple moving average is $5.40 and its 200-day simple moving average is $5.38.

Genworth Financial (NYSE:GNW – Get Rating) last posted its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $0.17 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.03). The firm had revenue of $1.85 billion for the quarter. Genworth Financial had a return on equity of 5.64% and a net margin of 6.99%. During the same period in the previous year, the business earned $0.29 EPS.

About Genworth Financial

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Genworth Financial, Inc is a financial services company, which engages in the provision of insurance, wealth management, investment and financial solutions. It operates through the following segments: U.S. Mortgage Insurance, Australia Mortgage Insurance, U.S. Life Insurance, and Runoff. The U.S. Mortgage Insurance segment offers mortgage insurance products predominantly insuring prime-based, individually underwritten residential mortgage loans.