Mirae Asset Global Investments Co. Ltd. Raises Holdings in Genpact Limited (NYSE:G)

Mirae Asset Global Investments Co. Ltd. boosted its stake in Genpact Limited (NYSE:G) by 39.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,415 shares of the business services provider’s stock after purchasing an additional 18,917 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Genpact were worth $2,305,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in G. New York State Teachers Retirement System boosted its holdings in shares of Genpact by 10.2% during the fourth quarter. New York State Teachers Retirement System now owns 173,701 shares of the business services provider’s stock worth $6,029,000 after purchasing an additional 16,080 shares during the period. Ballentine Partners LLC grew its position in shares of Genpact by 26.9% in the 4th quarter. Ballentine Partners LLC now owns 9,116 shares of the business services provider’s stock worth $316,000 after buying an additional 1,932 shares during the last quarter. DAVENPORT & Co LLC increased its stake in shares of Genpact by 328.8% during the fourth quarter. DAVENPORT & Co LLC now owns 133,239 shares of the business services provider’s stock valued at $4,621,000 after buying an additional 102,169 shares during the period. Oak Thistle LLC bought a new position in shares of Genpact during the fourth quarter valued at approximately $1,651,000. Finally, JLB & Associates Inc. lifted its stake in Genpact by 4.4% in the fourth quarter. JLB & Associates Inc. now owns 51,674 shares of the business services provider’s stock worth $1,794,000 after acquiring an additional 2,168 shares during the period. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Genpact Trading Up 1.1 %

Genpact stock opened at $30.89 on Friday. Genpact Limited has a one year low of $29.41 and a one year high of $45.38. The business’s fifty day moving average is $33.69 and its 200 day moving average is $34.34. The stock has a market capitalization of $5.57 billion, a PE ratio of 9.01, a price-to-earnings-growth ratio of 1.44 and a beta of 1.07. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.44 and a quick ratio of 1.44.

Genpact (NYSE:G) last issued its quarterly earnings data on Thursday, February 8th. The business services provider reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. Genpact had a net margin of 14.10% and a return on equity of 23.19%. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.12 billion. On average, sell-side analysts predict that Genpact Limited will post 2.7 EPS for the current year.

Genpact Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Monday, March 11th were given a dividend of $0.153 per share. The ex-dividend date was Friday, March 8th. This represents a $0.61 annualized dividend and a dividend yield of 1.98%. This is a positive change from Genpact’s previous quarterly dividend of $0.14. Genpact’s dividend payout ratio is presently 17.78%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on G shares. StockNews.com lowered Genpact from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 5th. Citigroup raised their price objective on Genpact from $35.00 to $36.00 and gave the company a “neutral” rating in a research report on Wednesday, January 17th. Mizuho began coverage on shares of Genpact in a research report on Tuesday, January 30th. They issued a “neutral” rating and a $40.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and set a $40.00 price target on shares of Genpact in a research report on Friday, February 9th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Genpact from $42.00 to $43.00 and gave the stock an “underweight” rating in a research note on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $40.11.

Insider Buying and Selling

In other news, SVP Heather White sold 11,450 shares of Genpact stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $36.00, for a total transaction of $412,200.00. Following the transaction, the senior vice president now owns 21,175 shares in the company, valued at approximately $762,300. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.80% of the stock is currently owned by insiders.

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.