Donald Smith & CO. Inc. Has $214.70 Million Stake in Genworth Financial, Inc. $GNW

Donald Smith & CO. Inc. lowered its position in shares of Genworth Financial, Inc. (NYSE:GNW) by 4.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,775,853 shares of the financial services provider’s stock after selling 1,200,231 shares during the quarter. Genworth Financial makes up about 4.0% of Donald Smith & CO. Inc.’s investment portfolio, making the stock its 4th largest position. Donald Smith & CO. Inc. owned approximately 0.06% of Genworth Financial worth $214,696,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in GNW. Norges Bank bought a new stake in shares of Genworth Financial during the fourth quarter worth $45,912,000. UBS Group AG raised its position in shares of Genworth Financial by 621.2% during the fourth quarter. UBS Group AG now owns 3,598,588 shares of the financial services provider’s stock worth $32,495,000 after acquiring an additional 3,099,582 shares during the last quarter. Invesco Ltd. raised its position in shares of Genworth Financial by 41.0% during the second 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. Hudson Bay Capital Management LP bought a new stake in shares of Genworth Financial during the second quarter worth $5,616,000. Finally, American Century Companies Inc. raised its position in shares of Genworth Financial by 7.9% during the third quarter. American Century Companies Inc. now owns 9,567,534 shares of the financial services provider’s stock worth $85,151,000 after acquiring an additional 704,498 shares during the last quarter. Institutional investors own 81.85% of the company’s stock.

Insider Transactions at Genworth Financial

In other Genworth Financial news, CEO Thomas J. Mcinerney sold 100,000 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $9.27, for a total value of $927,000.00. Following the completion of the transaction, the chief executive officer directly owned 5,368,883 shares of the company’s stock, valued at approximately $49,769,545.41. The trade was a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert P. Restrepo, Jr. sold 50,000 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $9.12, for a total value of $456,000.00. Following the completion of the transaction, the director directly owned 92,655 shares of the company’s stock, valued at approximately $845,013.60. The trade was a 35.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.80% of the stock is currently owned by insiders.

Genworth Financial Stock Up 2.6%

Shares of Genworth Financial stock opened at $8.93 on Thursday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.15. Genworth Financial, Inc. has a 12 month low of $6.75 and a 12 month high of $9.45. The business has a fifty day simple moving average of $8.81 and a 200 day simple moving average of $8.69. The stock has a market cap of $3.42 billion, a PE ratio of 17.18 and a beta of 0.86.

Genworth Financial (NYSE:GNW) last announced its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.10. Genworth Financial had a return on equity of 1.73% and a net margin of 2.96%.The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Research analysts predict that Genworth Financial, Inc. will post 0.44 EPS for the current year.

Analyst Ratings Changes

GNW has been the subject of a number of recent research reports. Keefe, Bruyette & Woods boosted their target price on Genworth Financial from $10.50 to $11.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Wall Street Zen cut Genworth Financial from a “hold” rating to a “sell” rating in a research note on Sunday, May 17th. Zacks Research raised Genworth Financial to a “hold” rating in a research note on Wednesday, May 27th. Finally, Weiss Ratings cut Genworth Financial from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, June 1st. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $11.00.

About Genworth Financial

Genworth Financial (NYSE: GNW) is a leading financial security company offering a broad range of insurance products. Based in Richmond, Virginia, Genworth provides individuals and families with solutions designed to protect against long-term care expenses, secure life insurance needs and support homeownership through private mortgage insurance. With operations spanning the United States, Canada and Australia, the company serves both retail and institutional clients through a diversified portfolio of risk management services.

The company’s Private Mortgage Insurance (PMI) segment offers coverage to lenders and consumers in the US, Canada and Australia, enabling homebuyers to purchase properties with lower down payments.