Principal Financial Group Inc. Has $17.77 Million Holdings in Genpact Limited (NYSE:G)

Principal Financial Group Inc. trimmed its holdings in shares of Genpact Limited (NYSE:G) by 11.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 552,136 shares of the business services provider’s stock after selling 71,580 shares during the period. Principal Financial Group Inc.’s holdings in Genpact were worth $17,773,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. EdgeRock Capital LLC acquired a new stake in shares of Genpact in the fourth quarter worth $25,000. EverSource Wealth Advisors LLC lifted its position in Genpact by 106.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 914 shares of the business services provider’s stock worth $32,000 after acquiring an additional 471 shares during the last quarter. CWM LLC boosted its holdings in Genpact by 160.8% during 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 lifted its holdings in shares of Genpact by 120.0% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,813 shares of the business services provider’s stock worth $60,000 after buying an additional 989 shares during the last quarter. Finally, Parallel Advisors LLC boosted its position in shares of Genpact by 22.6% in the fourth quarter. Parallel Advisors LLC now owns 1,882 shares of the business services provider’s stock valued at $65,000 after acquiring an additional 347 shares during the period. 96.03% of the stock is currently owned by institutional investors.

Genpact Trading Up 0.6 %

Shares of G opened at $38.99 on Thursday. The stock has a 50 day simple moving average of $35.04 and a 200-day simple moving average of $33.62. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.52. The stock has a market cap of $7.02 billion, a PE ratio of 11.14, a PEG ratio of 1.64 and a beta of 1.11. Genpact Limited has a 1 year low of $29.41 and a 1 year high of $39.95.

Genpact (NYSE:G) last released its quarterly earnings data on Thursday, August 8th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.05. Genpact had a return on equity of 22.28% and a net margin of 14.12%. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.15 billion. On average, sell-side analysts predict that Genpact Limited will post 2.85 EPS for the current fiscal year.

Genpact Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 11th will be paid a dividend of $0.1525 per share. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $0.61 annualized dividend and a yield of 1.56%. Genpact’s dividend payout ratio is 17.43%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on G shares. Wedbush reiterated a “neutral” rating and set a $35.00 target price on shares of Genpact in a research note on Friday, May 10th. TD Cowen increased their target price on shares of Genpact from $35.00 to $36.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Needham & Company LLC lifted their target price on Genpact from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. BMO Capital Markets upped their price target on Genpact from $38.00 to $42.00 and gave the company a “market perform” rating in a report on Monday, August 12th. Finally, JPMorgan Chase & Co. raised Genpact from an “underweight” rating to a “neutral” rating and decreased their price objective for the stock from $43.00 to $40.00 in a report on Wednesday, July 17th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $38.25.

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.