Thrivent Financial for Lutherans Sells 1,497 Shares of Genpact Limited (NYSE:G)

Thrivent Financial for Lutherans decreased its position in shares of Genpact Limited (NYSE:G) by 3.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 38,511 shares of the business services provider’s stock after selling 1,497 shares during the period. Thrivent Financial for Lutherans’ holdings in Genpact were worth $1,510,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in Genpact by 34.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,326,054 shares of the business services provider’s stock valued at $107,065,000 after acquiring an additional 847,249 shares during the period. Vulcan Value Partners LLC grew its stake in shares of Genpact by 22.2% in the second quarter. Vulcan Value Partners LLC now owns 1,567,428 shares of the business services provider’s stock worth $50,456,000 after purchasing an additional 284,842 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Genpact by 8.9% in the second quarter. Bank of New York Mellon Corp now owns 1,512,259 shares of the business services provider’s stock valued at $48,680,000 after purchasing an additional 122,993 shares during the period. Greenhaven Associates Inc. raised its position in Genpact by 14.1% during the 2nd quarter. Greenhaven Associates Inc. now owns 1,240,775 shares of the business services provider’s stock worth $39,941,000 after purchasing an additional 153,140 shares during the last quarter. Finally, Pzena Investment Management LLC lifted its holdings in Genpact by 130.3% during the 2nd quarter. Pzena Investment Management LLC now owns 1,163,870 shares of the business services provider’s stock worth $37,465,000 after buying an additional 658,560 shares during the period. Institutional investors own 96.03% of the company’s stock.

Insider Activity

In other Genpact news, CEO Balkrishan Kalra sold 9,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.40, for a total value of $417,600.00. Following the completion of the sale, the chief executive officer now owns 267,404 shares of the company’s stock, valued at approximately $12,407,545.60. This trade represents a 3.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.80% of the company’s stock.

Genpact Stock Performance

NYSE:G opened at $46.16 on Friday. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.50. Genpact Limited has a twelve month low of $30.23 and a twelve month high of $47.98. The company has a fifty day moving average of $41.17 and a 200-day moving average of $37.00. The firm has a market capitalization of $8.14 billion, a P/E ratio of 12.68, a P/E/G ratio of 1.60 and a beta of 1.13.

Genpact Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Monday, December 9th will be paid a $0.1525 dividend. This represents a $0.61 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Monday, December 9th. Genpact’s dividend payout ratio (DPR) is currently 16.76%.

Analyst Ratings Changes

Several brokerages have recently weighed in on G. Robert W. Baird increased their price target on Genpact from $44.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. TD Cowen increased their target price on shares of Genpact from $40.00 to $45.00 and gave the company a “hold” rating in a research report on Friday, November 8th. Jefferies Financial Group upped their price objective on shares of Genpact from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Monday, September 9th. Needham & Company LLC increased their price objective on shares of Genpact from $42.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Genpact from $35.00 to $43.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $42.33.

About Genpact

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.