Genworth Financial, Inc. (NYSE:GNW) Shares Bought by Donald Smith & CO. Inc.

Key Points

• Donald Smith & CO. Inc. increased its stake in Genworth Financial by 4.5% in Q1, making it the firm's 3rd largest position with 27.1 million shares valued at approximately $192 million.
• Genworth Financial reported a net profit of $0.16 per share for the latest quarter, surpassing the consensus estimate of $0.05, with total revenues reaching $1.80 billion.
• Despite a recent downgrade from "hold" to "sell" by Wall Street Zen, Keefe, Bruyette & Woods raised their price target for Genworth Financial from $9.00 to $9.50, maintaining an "outperform" rating.

Donald Smith & CO. Inc. boosted its stake in shares of Genworth Financial, Inc. (NYSE:GNW - Free Report) by 4.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,114,581 shares of the financial services provider's stock after purchasing an additional 1,165,112 shares during the quarter. Genworth Financial comprises 4.7% of Donald Smith & CO. Inc.'s portfolio, making the stock its 3rd largest holding. Donald Smith & CO. Inc. owned approximately 6.54% of Genworth Financial worth $192,242,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in GNW. Byrne Asset Management LLC boosted its position in shares of Genworth Financial by 69.5% in the first quarter. Byrne Asset Management LLC now owns 7,595 shares of the financial services provider's stock valued at $54,000 after acquiring an additional 3,115 shares during the period. Abel Hall LLC bought a new stake in shares of Genworth Financial in the first quarter valued at approximately $71,000. Blueshift Asset Management LLC bought a new stake in shares of Genworth Financial in the first quarter valued at approximately $71,000. Pennington Partners & CO. LLC bought a new stake in shares of Genworth Financial in the fourth quarter valued at approximately $84,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of Genworth Financial in the fourth quarter valued at approximately $86,000. Institutional investors own 81.85% of the company's stock.

Genworth Financial Price Performance

Genworth Financial stock traded down $0.04 during mid-day trading on Thursday, hitting $8.55. 2,587,785 shares of the company were exchanged, compared to its average volume of 6,288,629. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.16. The business has a fifty day moving average of $7.64 and a 200 day moving average of $7.16. Genworth Financial, Inc. has a 1-year low of $5.99 and a 1-year high of $8.60. The company has a market capitalization of $3.51 billion, a PE ratio of 18.99 and a beta of 1.12.

Genworth Financial (NYSE:GNW - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.11. Genworth Financial had a return on equity of 1.91% and a net margin of 2.61%. The firm had revenue of $1.80 billion during the quarter.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wall Street Zen cut Genworth Financial from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Keefe, Bruyette & Woods raised their target price on Genworth Financial from $9.00 to $9.50 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th.

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.