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

Principal Financial Group Inc. lessened its holdings in Genworth Financial, Inc. (NYSE:GNW - Free Report) by 5.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 approximately 0.47% of Genworth Financial worth $13,951,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Assenagon Asset Management S.A. raised its stake in shares of Genworth Financial by 138.3% during the second quarter. Assenagon Asset Management S.A. now owns 4,233,541 shares of the financial services provider's stock valued at $25,571,000 after acquiring an additional 2,456,816 shares during the last quarter. D. E. Shaw & Co. Inc. increased its holdings in Genworth Financial by 93.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 4,052,621 shares of the financial services provider's stock valued at $24,478,000 after purchasing an additional 1,958,632 shares during the period. Cubist Systematic Strategies LLC grew its position in shares of Genworth Financial by 3,395.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,780,098 shares of the financial services provider's stock valued at $10,752,000 after buying an additional 1,729,167 shares during the last quarter. Millennium Management LLC increased its stake in shares of Genworth Financial by 51.5% in the second quarter. Millennium Management LLC now owns 2,778,921 shares of the financial services provider's stock valued at $16,785,000 after buying an additional 944,677 shares during the period. Finally, Donald Smith & CO. Inc. raised its position in shares of 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 worth $171,355,000 after acquiring an additional 901,485 shares during the last quarter. Institutional investors own 81.85% of the company's stock.

Genworth Financial Stock Up 1.2 %

NYSE GNW traded up $0.09 on Friday, hitting $7.35. 4,002,313 shares of the company were exchanged, compared to its average volume of 2,559,082. Genworth Financial, Inc. has a 12 month low of $5.67 and a 12 month high of $7.48. 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 company has a market cap of $3.14 billion, a PE ratio of 35.00 and a beta of 0.95. The stock has a fifty day moving average of $6.90 and a 200-day moving average of $6.59.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Genworth Financial news, CEO Thomas J. Mcinerney sold 150,000 shares of Genworth Financial stock in a transaction on Monday, August 26th. The shares were sold at an average price of $6.88, for a total transaction of $1,032,000.00. Following the transaction, the chief executive officer now directly owns 4,532,954 shares of the company's stock, valued at $31,186,723.52. The trade was a 3.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.80% of the company's stock.

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.