The Manufacturers Life Insurance Company Reduces Stock Holdings in Genpact Limited (NYSE:G)

The Manufacturers Life Insurance Company lowered its stake in shares of Genpact Limited (NYSE:G) by 1.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 132,670 shares of the business services provider’s stock after selling 2,506 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.07% of Genpact worth $4,271,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. CWM LLC boosted its holdings in shares of Genpact by 160.8% in the second quarter. CWM LLC now owns 952 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 587 shares during the period. Massmutual Trust Co. FSB ADV grew its position in Genpact by 120.0% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,813 shares of the business services provider’s stock worth $60,000 after purchasing an additional 989 shares during the last quarter. Quarry LP increased its stake in Genpact by 530.1% in the fourth quarter. Quarry LP now owns 2,073 shares of the business services provider’s stock valued at $72,000 after purchasing an additional 1,744 shares during the period. Versant Capital Management Inc raised its holdings in shares of Genpact by 4,717.8% in the second quarter. Versant Capital Management Inc now owns 2,168 shares of the business services provider’s stock valued at $70,000 after buying an additional 2,123 shares during the last quarter. Finally, Covestor Ltd boosted its stake in shares of Genpact by 132.8% during the first quarter. Covestor Ltd now owns 4,340 shares of the business services provider’s stock worth $143,000 after buying an additional 2,476 shares during the period. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Genpact Price Performance

Shares of NYSE:G opened at $39.56 on Tuesday. The firm has a market capitalization of $7.12 billion, a price-to-earnings ratio of 11.30, a price-to-earnings-growth ratio of 1.63 and a beta of 1.13. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.89 and a quick ratio of 1.89. The business’s 50 day simple moving average is $37.90 and its 200-day simple moving average is $34.32. Genpact Limited has a 12 month low of $29.41 and a 12 month high of $39.95.

Genpact (NYSE:G) last posted its earnings results on Thursday, August 8th. The business services provider reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. Genpact had a return on equity of 22.28% and a net margin of 14.12%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.15 billion. As a group, equities analysts forecast that Genpact Limited will post 2.85 earnings per share for the current fiscal year.

Genpact Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 11th were issued a $0.1525 dividend. This represents a $0.61 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend was Wednesday, September 11th. Genpact’s dividend payout ratio (DPR) is presently 17.43%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on G shares. TD Cowen boosted their price target on Genpact from $35.00 to $36.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Needham & Company LLC increased their price target on Genpact from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, August 9th. BMO Capital Markets boosted their price objective on shares of Genpact from $38.00 to $42.00 and gave the company a “market perform” rating in a research note on Monday, August 12th. Jefferies Financial Group raised their target price on shares of Genpact from $35.00 to $40.00 and gave the stock a “hold” rating in a research note on Monday, September 9th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Genpact from $35.00 to $43.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $38.78.

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.