Principal Financial Group Inc. Trims Holdings in Genworth Financial, Inc. (NYSE:GNW)

Principal Financial Group Inc. lowered its position in Genworth Financial, Inc. (NYSE:GNW - Free Report) by 5.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,036,607 shares of the financial services provider's stock after selling 122,398 shares during the quarter. Principal Financial Group Inc. owned 0.48% of Genworth Financial worth $13,951,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Verition Fund Management LLC lifted its stake in shares of Genworth Financial by 900.7% in the 3rd quarter. Verition Fund Management LLC now owns 970,185 shares of the financial services provider's stock valued at $6,646,000 after purchasing an additional 873,237 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Genworth Financial by 19.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,171,821 shares of the financial services provider's stock valued at $14,877,000 after buying an additional 348,627 shares during the period. Donald Smith & CO. Inc. lifted its position in Genworth Financial by 3.7% during the third quarter. Donald Smith & CO. Inc. now owns 25,015,294 shares of the financial services provider's stock valued at $171,355,000 after buying an additional 901,485 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Genworth Financial by 155.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 431,129 shares of the financial services provider's stock worth $2,953,000 after buying an additional 262,027 shares during the period. Finally, Algert Global LLC increased its position in shares of Genworth Financial by 23.4% in the third quarter. Algert Global LLC now owns 731,705 shares of the financial services provider's stock worth $5,012,000 after acquiring an additional 138,674 shares in the last quarter. Hedge funds and other institutional investors own 81.85% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Genworth Financial from a "buy" rating to a "hold" rating in a report on Wednesday, November 20th.

Genworth Financial Stock Down 1.8 %

Shares of NYSE:GNW traded down $0.13 during mid-day trading on Friday, hitting $6.97. 3,495,268 shares of the company traded hands, compared to its average volume of 2,832,723. The firm's 50 day simple moving average is $7.24 and its 200 day simple moving average is $6.81. The firm has a market cap of $2.98 billion, a P/E ratio of 33.19 and a beta of 0.99. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.29 and a current ratio of 0.29. Genworth Financial, Inc. has a 52-week low of $5.67 and a 52-week high of $7.90.

Genworth Financial 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.