Fifth Third Bancorp Sells 8,034 Shares of Genpact Limited (NYSE:G)

Fifth Third Bancorp lowered its holdings in Genpact Limited (NYSE:G) by 69.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,491 shares of the business services provider’s stock after selling 8,034 shares during the quarter. Fifth Third Bancorp’s holdings in Genpact were worth $121,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Gradient Investments LLC grew its position in Genpact by 1.9% in the 4th quarter. Gradient Investments LLC now owns 420,317 shares of the business services provider’s stock valued at $14,589,000 after purchasing an additional 7,714 shares during the period. Ellsworth Advisors LLC grew its position in Genpact by 5.3% in the 4th quarter. Ellsworth Advisors LLC now owns 98,654 shares of the business services provider’s stock valued at $3,424,000 after purchasing an additional 4,985 shares during the period. Sendero Wealth Management LLC grew its position in Genpact by 21.0% in the 4th quarter. Sendero Wealth Management LLC now owns 22,275 shares of the business services provider’s stock valued at $773,000 after purchasing an additional 3,865 shares during the period. Raymond James & Associates grew its position in Genpact by 160.1% in the 4th quarter. Raymond James & Associates now owns 275,195 shares of the business services provider’s stock valued at $9,552,000 after purchasing an additional 169,389 shares during the period. Finally, SG Americas Securities LLC grew its position in Genpact by 164.9% in the 4th quarter. SG Americas Securities LLC now owns 169,396 shares of the business services provider’s stock valued at $5,880,000 after purchasing an additional 105,454 shares during the period. Institutional investors and hedge funds own 96.03% of the company’s stock.

Genpact Trading Up 1.7 %

NYSE G opened at $32.36 on Wednesday. Genpact Limited has a one year low of $29.41 and a one year high of $45.99. The business’s fifty day moving average is $34.20 and its 200-day moving average is $34.55. The stock has a market capitalization of $5.84 billion, a price-to-earnings ratio of 9.43, a PEG ratio of 1.49 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 announced its quarterly earnings data on Thursday, February 8th. The business services provider reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. Genpact had a return on equity of 23.19% and a net margin of 14.10%. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Equities research analysts predict that Genpact Limited will post 2.7 EPS for the current year.

Genpact Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Monday, March 11th were paid a $0.153 dividend. This is a boost from Genpact’s previous quarterly dividend of $0.14. This represents a $0.61 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend was Friday, March 8th. Genpact’s payout ratio is currently 17.78%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on G. JPMorgan Chase & Co. raised their price objective on Genpact from $42.00 to $43.00 and gave the company an “underweight” rating in a research note on Friday, February 9th. Citigroup raised their price objective on Genpact from $35.00 to $36.00 and gave the company a “neutral” rating in a research note on Wednesday, January 17th. StockNews.com cut Genpact from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 5th. Robert W. Baird restated a “neutral” rating and set a $38.00 price objective on shares of Genpact in a research note on Friday, December 15th. Finally, Needham & Company LLC restated a “buy” rating and set a $40.00 price objective on shares of Genpact in a research note on Friday, February 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $40.11.

Insider Activity at Genpact

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

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.