Truist Financial Corp Trims Position in Genpact Limited (NYSE:G)

Truist Financial Corp cut its holdings in shares of Genpact Limited (NYSE:G) by 6.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 29,260 shares of the business services provider’s stock after selling 2,117 shares during the quarter. Truist Financial Corp’s holdings in Genpact were worth $1,257,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. SRH Advisors LLC acquired a new stake in shares of Genpact during the 4th quarter worth approximately $26,000. Manchester Capital Management LLC acquired a new stake in shares of Genpact during the 4th quarter worth approximately $38,000. UMB Bank n.a. grew its stake in shares of Genpact by 55.7% during the 4th quarter. UMB Bank n.a. now owns 1,210 shares of the business services provider’s stock worth $52,000 after purchasing an additional 433 shares during the period. Venturi Wealth Management LLC grew its stake in shares of Genpact by 74.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,623 shares of the business services provider’s stock worth $103,000 after purchasing an additional 1,121 shares during the period. Finally, Versant Capital Management Inc grew its stake in shares of Genpact by 17.0% during the 4th quarter. Versant Capital Management Inc now owns 3,178 shares of the business services provider’s stock worth $136,000 after purchasing an additional 461 shares during the period. 96.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

G has been the topic of a number of research analyst reports. Jefferies Financial Group raised shares of Genpact from a “hold” rating to a “buy” rating and lifted their price target for the company from $44.00 to $55.00 in a research note on Tuesday, January 21st. TD Cowen raised shares of Genpact from a “hold” rating to a “buy” rating and lifted their price target for the company from $45.00 to $60.00 in a research note on Friday, February 7th. Mizuho lifted their price target on shares of Genpact from $45.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Needham & Company LLC lifted their price target on shares of Genpact from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Finally, Robert W. Baird lifted their price target on shares of Genpact from $44.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $48.44.

Insider Transactions at Genpact

In other news, SVP Piyush Mehta sold 12,000 shares of Genpact stock in a transaction on Friday, January 10th. The stock was sold at an average price of $42.83, for a total transaction of $513,960.00. Following the transaction, the senior vice president now owns 151,182 shares in the company, valued at $6,475,125.06. The trade was a 7.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Balkrishan Kalra sold 13,600 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $44.60, for a total transaction of $606,560.00. Following the completion of the sale, the chief executive officer now owns 267,404 shares in the company, valued at approximately $11,926,218.40. This trade represents a 4.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.

Genpact Trading Up 1.0 %

Shares of G stock opened at $53.22 on Friday. The stock’s fifty day moving average is $47.78 and its two-hundred day moving average is $43.26. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.85 and a current ratio of 2.16. The firm has a market capitalization of $9.39 billion, a P/E ratio of 18.74, a PEG ratio of 1.84 and a beta of 1.20. Genpact Limited has a fifty-two week low of $30.23 and a fifty-two week high of $56.76.

Genpact (NYSE:G) last announced its quarterly earnings data on Thursday, February 6th. The business services provider reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.04). Genpact had a net margin of 10.77% and a return on equity of 22.50%. Research analysts expect that Genpact Limited will post 3.21 earnings per share for the current fiscal year.

Genpact Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Tuesday, March 11th. This is a positive change from Genpact’s previous quarterly dividend of $0.15. Genpact’s payout ratio is currently 23.94%.

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.