Genpact Limited (NYSE:G) Stake Cut by Corebridge Financial Inc.

Corebridge Financial Inc. lessened its position in Genpact Limited (NYSE:G - Free Report) by 5.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. SRH Advisors LLC acquired a new stake in Genpact in the 4th quarter worth about $26,000. Manchester Capital Management LLC purchased a new position in shares of Genpact during the 4th quarter worth about $38,000. Smartleaf Asset Management LLC boosted its position in shares of Genpact by 416.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 971 shares of the business services provider's stock worth $41,000 after acquiring an additional 783 shares during the last quarter. UMB Bank n.a. boosted its position in shares of Genpact by 55.7% in the fourth quarter. UMB Bank n.a. now owns 1,210 shares of the business services provider's stock worth $52,000 after acquiring an additional 433 shares during the last quarter. Finally, J.Safra Asset Management Corp grew its holdings in Genpact by 38.8% in the fourth quarter. J.Safra Asset Management Corp now owns 1,622 shares of the business services provider's stock valued at $69,000 after purchasing an additional 453 shares during the period. Hedge funds and other institutional investors own 96.03% of the company's stock.

Insider Activity

In related news, SVP Piyush Mehta sold 12,000 shares of the company's stock in a transaction on Friday, January 10th. The shares were sold at an average price of $42.83, for a total value of $513,960.00. Following the sale, the senior vice president now directly owns 151,182 shares of the company's stock, valued at $6,475,125.06. This represents a 7.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Balkrishan Kalra sold 13,600 shares of the stock in a transaction on 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 $15,167,926.94. This trade represents a 4.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.80% of the company's stock.

Analyst Upgrades and Downgrades

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

Genpact Stock Up 0.4 %

Shares of NYSE:G traded up $0.21 during mid-day trading on Tuesday, hitting $50.59. 932,031 shares of the company traded hands, compared to its average volume of 1,353,033. The firm's 50 day simple moving average is $51.03 and its 200 day simple moving average is $45.27. The firm has a market cap of $8.89 billion, a P/E ratio of 17.81, a PEG ratio of 1.84 and a beta of 1.16. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.85 and a current ratio of 2.16. Genpact Limited has a 52-week low of $30.23 and a 52-week high of $56.76.

Genpact (NYSE:G - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.86 by ($0.04). Genpact had a net margin of 10.77% and a return on equity of 22.50%. On average, equities analysts anticipate that Genpact Limited will post 3.21 EPS for the current year.

Genpact Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th were given a $0.17 dividend. This is a boost from Genpact's previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date 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.