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

Principal Financial Group Inc. lessened its holdings in shares of Genpact Limited (NYSE:G - Free Report) by 31.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 380,210 shares of the business services provider's stock after selling 171,926 shares during the period. Principal Financial Group Inc. owned 0.21% of Genpact worth $14,908,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Leeward Investments LLC MA grew its stake in shares of Genpact by 1.9% in the 3rd quarter. Leeward Investments LLC MA now owns 294,802 shares of the business services provider's stock worth $11,559,000 after buying an additional 5,571 shares during the last quarter. Concurrent Investment Advisors LLC bought a new stake in Genpact in the third quarter worth $278,000. QRG Capital Management Inc. grew its stake in shares of Genpact by 16.9% in the third quarter. QRG Capital Management Inc. now owns 79,893 shares of the business services provider's stock worth $3,133,000 after acquiring an additional 11,550 shares during the last quarter. Stephens Inc. AR bought a new position in shares of Genpact during the third quarter valued at $511,000. Finally, State of Alaska Department of Revenue raised its position in shares of Genpact by 0.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 336,682 shares of the business services provider's stock worth $13,200,000 after purchasing an additional 1,015 shares during the last quarter. 96.03% of the stock is owned by hedge funds and other institutional investors.

Genpact Stock Performance

Shares of G traded down $0.31 during trading hours on Friday, hitting $44.79. The stock had a trading volume of 1,148,666 shares, compared to its average volume of 1,328,538. The firm has a market capitalization of $7.98 billion, a PE ratio of 12.30, a PEG ratio of 1.63 and a beta of 1.13. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.85 and a quick ratio of 1.89. Genpact Limited has a 12 month low of $30.23 and a 12 month high of $47.98. The stock has a fifty day moving average price of $39.74 and a 200 day moving average price of $36.06.

Genpact Announces Dividend

The company 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 dividend of $0.1525 per share. The ex-dividend date is Monday, December 9th. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.36%. Genpact's dividend payout ratio is currently 16.76%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on G. Robert W. Baird increased their price objective on shares of Genpact from $44.00 to $48.00 and gave the company a "neutral" rating in a research report on Friday, November 8th. JPMorgan Chase & Co. raised their price target on shares of Genpact from $35.00 to $43.00 and gave the company a "neutral" rating in a research report on Friday, September 6th. BMO Capital Markets upped their price objective on Genpact from $38.00 to $42.00 and gave the company a "market perform" rating in a research report on Monday, August 12th. TD Cowen lifted their target price on Genpact from $40.00 to $45.00 and gave the stock a "hold" rating in a report on Friday, November 8th. Finally, Needham & Company LLC upped their price target on Genpact from $42.00 to $55.00 and gave the company a "buy" rating in a 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 stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $42.33.

Genpact 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.