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Donald Smith Sells Shares in Insurance Companies

Guru Donald Smith ( Trades , Portfolio ), CIO of Donald Smith ( Trades , Portfolio ) & Co., added to some stakes and bought a few new ones in the first quarter, but his biggest transactions were divestitures and reductions, many of them in the insurance industry.

In his most noteworthy transaction of the quarter, Smith trimmed his stake in XL Group PLC ( XL ), an insurance company based in Dublin, by more than 64%. Smith sold ',……9,57- shares for an average price of $'5.6 per share in a deal that had a -'.…7% impact on his portfolio.

The remaining stake of -,66','88 shares is ….57% of XL Group's outstanding shares and -.7-% of Smith's total assets. XL Group's leading shareholder among the gurus is Richard Pzena ( Trades , Portfolio ) with a stake of 5,695,677 shares. The stake is -.95% of XL Group's outstanding shares and -.'8% of Pzena's total assets.

XL Group has a P/E of 8.-, a forward P/E of 9.4, a P/B of ….7 and a P/S of -. GuruFocus gives XL Group a Financial Strength rating of 4/-… and a Profitability and Growth rating of 6/-….

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XL Group sold for $'-.47 per share Wednesday afternoon.

Smith reduced his stake in American National Insurance Company ( ANAT ), a Galveston, Texas-based insurance and financial services company, by more than '-%. Smith sold 4-5,8…9 shares for an average price of $-…-.-- per share. The transaction had a --.-'% impact on Smith's portfolio.

The remaining stake of 9'7,'48 shares is '.49% of American National Insurance's outstanding shares and '.…'% of Smith's total assets. Smith is American National Insurance's leading shareholder among the gurus.

American National Insurance has a P/E of -8.5, a P/B of ….7 and a P/S of -.-. GuruFocus gives American National Insurance a Financial Strength rating of 5/-… and a Profitability and Growth rating of 5/-….

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American National Insurance sold for $--6.-8 per share Wednesday afternoon.

Smith sold 5--,754 shares, nearly 6% of his stake, in AerCap Holdings NV ( AER ), an aircraft leasing company based in Dublin, for an average price of $'4.46 per share. The deal had a -….59% impact on Smith's portfolio.

The remaining stake of 8,95-,-56 shares is 4.47% of AerCap's outstanding shares and 9.7-% of Smith's total assets. Smith is AerCap's leading shareholder among the gurus.

AerCap Holdings has a P/E of 6.9, a forward P/E of 6.-, a P/B of - and a P/S of -.5. GuruFocus gives AerCap a Financial Strength rating of 7/-… and a Profitability and Growth rating of 9/-….

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AerCap sold for $'9.59 per share Wednesday afternoon.

Smith sold more than -5% of his stake in JetBlue Airways Corp. ( JBLU ), a low-cost airline based in Long Island City, New York. Smith sold 997,8…9 shares for an average price of $--.…6 per share. The deal had a -….59% impact on Smith's portfolio.

The remaining stake of 5,5'6,667 shares is -.7-% of JetBlue's outstanding shares and '.-7% of Smith's total assets. PRIMECAP Management ( Trades , Portfolio

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This article first appeared on GuruFocus .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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