Legal & General Group Plc Grows Position in Genpact Limited (NYSE:G)

Legal & General Group Plc raised its position in Genpact Limited (NYSE:G) by 77.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 333,333 shares of the business services provider’s stock after buying an additional 145,112 shares during the quarter. Legal & General Group Plc owned approximately 0.19% of Genpact worth $14,317,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Federated Hermes Inc. boosted its stake in shares of Genpact by 17.5% during the fourth quarter. Federated Hermes Inc. now owns 15,142 shares of the business services provider’s stock worth $650,000 after buying an additional 2,256 shares during the period. Aristides Capital LLC raised its stake in Genpact by 21.7% during the 4th quarter. Aristides Capital LLC now owns 82,133 shares of the business services provider’s stock valued at $3,528,000 after acquiring an additional 14,641 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC acquired a new stake in Genpact during the 4th quarter worth approximately $790,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Genpact in the 4th quarter valued at approximately $324,000. Finally, Wells Fargo & Company MN increased its holdings in shares of Genpact by 35.4% in the fourth quarter. Wells Fargo & Company MN now owns 16,838 shares of the business services provider’s stock valued at $723,000 after purchasing an additional 4,403 shares during the period. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Genpact Price Performance

G stock opened at $47.92 on Wednesday. The company has a market cap of $8.42 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 1.84 and a beta of 1.06. The company has a current ratio of 2.16, a quick ratio of 1.85 and a debt-to-equity ratio of 0.50. The firm has a 50 day moving average of $50.94 and a 200-day moving average of $45.91. Genpact Limited has a 12-month low of $30.23 and a 12-month high of $56.76.

Genpact (NYSE:G) last posted its earnings results on Thursday, February 6th. The business services provider reported $0.82 EPS for the quarter, missing analysts’ consensus estimates 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, equities analysts expect that Genpact Limited will post 3.21 EPS for the current fiscal year.

Genpact Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th were given a dividend of $0.17 per share. The ex-dividend date was Tuesday, March 11th. This represents a $0.68 dividend on an annualized basis and a yield of 1.42%. This is a boost from Genpact’s previous quarterly dividend of $0.15. Genpact’s payout ratio is presently 23.94%.

Insider Buying and Selling at Genpact

In related news, CEO Balkrishan Kalra sold 13,600 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $48.89, for a total value of $664,904.00. Following the completion of the transaction, the chief executive officer now owns 310,246 shares of the company’s stock, valued at approximately $15,167,926.94. The trade was a 4.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.80% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.