Donald Smith & CO. Inc. Buys New Position in Genworth Financial, Inc. $GNW

Donald Smith & CO. Inc. bought a new stake in shares of Genworth Financial, Inc. (NYSE:GNW) in the second quarter, HoldingsChannel reports. The institutional investor bought 22,482,191 shares of the financial services provider’s stock, valued at approximately $212,906,000. Genworth Financial makes up about 3.8% of Donald Smith & CO. Inc.’s portfolio, making the stock its 6th largest position. Donald Smith & CO. Inc. owned about 0.06% of Genworth Financial as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in GNW. Royal Bank of Canada boosted its stake in shares of Genworth Financial by 75.8% during the 1st quarter. Royal Bank of Canada now owns 118,058 shares of the financial services provider’s stock worth $837,000 after acquiring an additional 50,911 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Genworth Financial by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 252,152 shares of the financial services provider’s stock worth $1,788,000 after purchasing an additional 7,106 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Genworth Financial by 4.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,184,144 shares of the financial services provider’s stock worth $8,396,000 after purchasing an additional 55,071 shares during the period. Strs Ohio bought a new position in Genworth Financial in the 1st quarter worth $82,000. Finally, Invesco Ltd. lifted its position in Genworth Financial by 41.0% during the second quarter. Invesco Ltd. now owns 4,291,220 shares of the financial services provider’s stock valued at $33,386,000 after purchasing an additional 1,248,374 shares in the last quarter. 81.85% of the stock is currently owned by institutional investors.

Genworth Financial Trading Up 0.3%

Shares of GNW opened at $9.89 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.29 and a quick ratio of 0.29. Genworth Financial, Inc. has a 1 year low of $7.84 and a 1 year high of $10.28. The company has a 50 day simple moving average of $9.65 and a two-hundred day simple moving average of $9.01. The firm has a market cap of $3.74 billion, a P/E ratio of 19.02 and a beta of 0.87.

Genworth Financial (NYSE:GNW) last released its earnings results on Wednesday, August 5th. The financial services provider reported $0.29 EPS for the quarter, topping the consensus estimate of $0.28 by $0.01. Genworth Financial had a net margin of 2.87% and a return on equity of 1.06%. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.90 billion. On average, equities analysts expect that Genworth Financial, Inc. will post 1.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GNW has been the subject of several recent research reports. Keefe, Bruyette & Woods raised Genworth Financial from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, August 11th. Wall Street Zen raised Genworth Financial from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Zacks Research raised Genworth Financial to a “hold” rating in a research report on Wednesday, May 27th. Finally, Weiss Ratings downgraded Genworth Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Genworth Financial Company Profile

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.