Mirae Asset Global Investments Co. Ltd. Acquires 18,917 Shares of Genpact Limited (NYSE:G)

Mirae Asset Global Investments Co. Ltd. increased its holdings in Genpact Limited (NYSE:G) by 39.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,415 shares of the business services provider’s stock after buying an additional 18,917 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Genpact were worth $2,305,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Fred Alger Management LLC boosted its holdings in shares of Genpact by 136.7% in the 4th quarter. Fred Alger Management LLC now owns 878 shares of the business services provider’s stock valued at $41,000 after buying an additional 507 shares in the last quarter. Janiczek Wealth Management LLC purchased a new position in Genpact in the third quarter worth $48,000. State of Wyoming acquired a new position in shares of Genpact during the fourth quarter worth $66,000. Belpointe Asset Management LLC boosted its position in shares of Genpact by 27.6% in the 1st quarter. Belpointe Asset Management LLC now owns 1,446 shares of the business services provider’s stock worth $67,000 after purchasing an additional 313 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its position in shares of Genpact by 5,162.1% in the 4th quarter. Lazard Asset Management LLC now owns 1,526 shares of the business services provider’s stock worth $70,000 after purchasing an additional 1,497 shares in the last quarter. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Genpact Trading Up 1.1 %

NYSE G opened at $30.89 on Friday. Genpact Limited has a 1 year low of $29.41 and a 1 year high of $45.38. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.44 and a quick ratio of 1.44. The company has a market capitalization of $5.57 billion, a PE ratio of 9.01, a P/E/G ratio of 1.44 and a beta of 1.07. The company has a fifty day moving average of $33.69 and a 200 day moving average of $34.34.

Genpact (NYSE:G) last released 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 return on equity of 23.19% and a net margin of 14.10%. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.12 billion. Research analysts forecast that Genpact Limited will post 2.7 earnings per share for the current year.

Genpact Increases Dividend

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

Analyst Upgrades and Downgrades

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

Insider Transactions at Genpact

In other news, SVP Heather White sold 11,450 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $36.00, for a total transaction of $412,200.00. Following the sale, the senior vice president now directly owns 21,175 shares of the company’s stock, valued at approximately $762,300. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.80% of the company’s stock.

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.