Genpact Limited (NYSE:G) Stock Holdings Decreased by Corebridge Financial Inc.

Corebridge Financial Inc. reduced its position in shares of Genpact Limited (NYSE:G) by 5.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 183,671 shares of the business services provider’s stock after selling 10,263 shares during the period. Corebridge Financial Inc. owned about 0.10% of Genpact worth $7,889,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Genpact by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 16,962,496 shares of the business services provider’s stock worth $728,539,000 after buying an additional 61,376 shares during the period. LPL Financial LLC boosted its position in shares of Genpact by 42.3% during the 4th quarter. LPL Financial LLC now owns 36,268 shares of the business services provider’s stock valued at $1,558,000 after purchasing an additional 10,776 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in Genpact during the fourth quarter worth approximately $669,000. KLP Kapitalforvaltning AS acquired a new position in shares of Genpact in the 4th quarter worth $1,473,000. Finally, AXQ Capital LP increased its stake in Genpact by 60.2% in the 4th quarter. AXQ Capital LP now owns 25,801 shares of the business services provider’s stock worth $1,108,000 after purchasing an additional 9,696 shares in the last quarter. 96.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. TD Cowen upgraded shares of Genpact from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $45.00 to $60.00 in a research report on Friday, February 7th. Mizuho increased their price objective on Genpact from $45.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Needham & Company LLC raised their target price on Genpact from $55.00 to $65.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, Jefferies Financial Group upgraded Genpact from a “hold” rating to a “buy” rating and increased their price target for the company from $44.00 to $55.00 in a report on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Genpact currently has an average rating of “Hold” and an average target price of $48.44.

Insider Activity

In other Genpact news, SVP Piyush Mehta sold 12,000 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $42.83, for a total transaction of $513,960.00. Following the completion of the sale, the senior vice president now directly owns 151,182 shares of the company’s stock, valued at approximately $6,475,125.06. The trade was a 7.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Balkrishan Kalra sold 13,600 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $48.89, for a total transaction of $664,904.00. Following the transaction, the chief executive officer now owns 310,246 shares in the company, valued at approximately $15,167,926.94. The trade was a 4.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.80% of the stock is owned by insiders.

Genpact Stock Up 0.8 %

NYSE G opened at $50.76 on Friday. The stock’s 50 day simple moving average is $50.74 and its 200 day simple moving average is $44.94. Genpact Limited has a one year low of $30.23 and a one year high of $56.76. The firm has a market cap of $8.92 billion, a PE ratio of 17.87, a price-to-earnings-growth ratio of 1.84 and a beta of 1.16. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.16 and a quick ratio of 1.85.

Genpact (NYSE:G) last announced its earnings results on Thursday, February 6th. The business services provider reported $0.82 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.04). Genpact had a return on equity of 22.50% and a net margin of 10.77%. As a group, sell-side analysts forecast that Genpact Limited will post 3.21 earnings per share for the current fiscal year.

Genpact Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.34%. This is a positive change from Genpact’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Tuesday, March 11th. Genpact’s dividend payout ratio is presently 23.94%.

Genpact Company Profile

Genpact Limited provides business process outsourcing and information technology services in India, rest of Asia, North and Latin America, and Europe. It operates through three segments: Financial services; Consumer and Healthcare; and High Tech and Manufacturing. The Financial Services segment offers retail customer onboarding, customer service, collections, card servicing operations, loan and payment operations, commercial loan, equipment and auto loan, mortgage origination, compliance services, reporting and monitoring, and wealth management operations support; financial crime and risk management services; and underwriting support, new business processing, policy administration, claims management, catastrophe modeling and actuarial services, as well as property and casualty claims.