Donald Smith & CO. Inc. Sells 916,301 Shares of Genworth Financial, Inc. $GNW

Donald Smith & CO. Inc. trimmed its holdings in shares of Genworth Financial, Inc. (NYSE:GNW) by 3.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,198,280 shares of the financial services provider’s stock after selling 916,301 shares during the period. Genworth Financial comprises 4.8% of Donald Smith & CO. Inc.’s holdings, making the stock its 3rd largest position. Donald Smith & CO. Inc. owned approximately 6.38% of Genworth Financial worth $203,823,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of GNW. Nuveen LLC acquired a new position in Genworth Financial during the first quarter worth approximately $24,661,000. Norges Bank acquired a new position in shares of Genworth Financial during the 2nd quarter worth approximately $26,992,000. Invesco Ltd. increased its holdings in shares of Genworth Financial by 41.0% during the 2nd quarter. Invesco Ltd. now owns 4,291,220 shares of the financial services provider’s stock worth $33,386,000 after acquiring an additional 1,248,374 shares during the last quarter. American Century Companies Inc. raised its stake in Genworth Financial by 11.6% in the 1st quarter. American Century Companies Inc. now owns 8,056,534 shares of the financial services provider’s stock valued at $57,121,000 after acquiring an additional 836,192 shares during the period. Finally, Trexquant Investment LP lifted its holdings in Genworth Financial by 162.4% during the 1st quarter. Trexquant Investment LP now owns 1,330,661 shares of the financial services provider’s stock valued at $9,434,000 after purchasing an additional 823,470 shares during the last quarter. Institutional investors own 81.85% of the company’s stock.

Genworth Financial Price Performance

NYSE:GNW opened at $8.67 on Friday. Genworth Financial, Inc. has a 52 week low of $5.99 and a 52 week high of $9.15. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.29 and a current ratio of 0.29. The firm’s 50-day simple moving average is $8.61 and its 200 day simple moving average is $8.15. The firm has a market cap of $3.46 billion, a price-to-earnings ratio of 16.35 and a beta of 1.02.

Genworth Financial (NYSE:GNW) last announced its earnings results on Wednesday, November 5th. The financial services provider reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). Genworth Financial had a return on equity of 1.56% and a net margin of 3.01%.The business had revenue of $1.04 billion for the quarter.

Analyst Ratings Changes

GNW has been the topic of several research reports. Wall Street Zen upgraded shares of Genworth Financial from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Keefe, Bruyette & Woods increased their price target on shares of Genworth Financial from $9.50 to $10.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Genworth Financial in a research report on Monday, December 1st. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Genworth Financial has an average rating of “Buy” and an average price target of $10.00.

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.