Principal Financial Group Inc. Cuts Stock Position in Genpact Limited (NYSE:G)

Principal Financial Group Inc. cut its holdings in shares of Genpact Limited (NYSE:G) by 31.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 380,210 shares of the business services provider’s stock after selling 171,926 shares during the quarter. Principal Financial Group Inc. owned approximately 0.22% of Genpact worth $14,908,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Venturi Wealth Management LLC boosted its position in shares of Genpact by 74.6% during the third quarter. Venturi Wealth Management LLC now owns 2,623 shares of the business services provider’s stock worth $103,000 after acquiring an additional 1,121 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Genpact by 221.3% during the 3rd quarter. GAMMA Investing LLC now owns 3,329 shares of the business services provider’s stock valued at $131,000 after purchasing an additional 2,293 shares during the last quarter. Centaurus Financial Inc. purchased a new position in shares of Genpact during the third quarter valued at about $159,000. M&T Bank Corp purchased a new stake in shares of Genpact in the third quarter worth about $206,000. Finally, Greenleaf Trust purchased a new stake in shares of Genpact in the third quarter worth about $210,000. Institutional investors own 96.03% of the company’s stock.

Genpact Stock Performance

Shares of Genpact stock opened at $42.91 on Friday. The company has a market capitalization of $7.57 billion, a PE ratio of 11.79, a P/E/G ratio of 1.56 and a beta of 1.18. The company has a 50-day simple moving average of $43.05 and a two-hundred day simple moving average of $38.36. Genpact Limited has a one year low of $30.23 and a one year high of $47.98. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.85 and a current ratio of 1.85.

Genpact Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Monday, December 9th were given a $0.1525 dividend. The ex-dividend date was Monday, December 9th. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.42%. Genpact’s payout ratio is 16.76%.

Insider Buying and Selling

In other Genpact news, CEO Balkrishan Kalra sold 13,600 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $44.60, for a total transaction of $606,560.00. Following the transaction, the chief executive officer now owns 267,404 shares in the company, valued at approximately $11,926,218.40. This represents a 4.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 23,058 shares of company stock worth $1,044,715 in the last ninety days. 2.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on G shares. Jefferies Financial Group lifted their price objective on shares of Genpact from $35.00 to $40.00 and gave the stock a “hold” rating in a research note on Monday, September 9th. JPMorgan Chase & Co. boosted their price objective on Genpact from $35.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Robert W. Baird raised their price objective 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 boosted their target price on Genpact from $40.00 to $45.00 and gave the company a “hold” rating in a research report on Friday, November 8th. Finally, Needham & Company LLC raised their price target on Genpact from $42.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $42.33.

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.