JPMorgan Chase & Co. Has $122.70 Million Holdings in Genpact Limited (NYSE:G)

JPMorgan Chase & Co. grew its holdings in shares of Genpact Limited (NYSE:G) by 192.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,129,341 shares of the business services provider’s stock after acquiring an additional 2,060,595 shares during the quarter. JPMorgan Chase & Co.’s holdings in Genpact were worth $122,701,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its holdings in shares of Genpact by 34.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,326,054 shares of the business services provider’s stock valued at $107,065,000 after acquiring an additional 847,249 shares in the last quarter. Pzena Investment Management LLC boosted its stake in shares of Genpact by 130.3% during the second quarter. Pzena Investment Management LLC now owns 1,163,870 shares of the business services provider’s stock valued at $37,465,000 after purchasing an additional 658,560 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Genpact during the third quarter worth about $19,779,000. Tandem Investment Advisors Inc. bought a new stake in shares of Genpact during the third quarter worth about $17,025,000. Finally, Geode Capital Management LLC increased its stake in shares of Genpact by 12.6% in the third quarter. Geode Capital Management LLC now owns 3,691,406 shares of the business services provider’s stock valued at $148,142,000 after buying an additional 413,646 shares during the period. Institutional investors own 96.03% of the company’s stock.

Insider Activity

In other Genpact news, CEO Balkrishan Kalra sold 9,000 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $46.40, for a total value of $417,600.00. Following the transaction, the chief executive officer now directly owns 267,404 shares of the company’s stock, valued at approximately $12,407,545.60. This trade represents a 3.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 23,058 shares of company stock worth $1,044,715 in the last three months. Company insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on G. Jefferies Financial Group boosted their target price on shares of Genpact from $35.00 to $40.00 and gave the stock a “hold” rating in a report on Monday, September 9th. Needham & Company LLC increased their price objective on Genpact from $42.00 to $55.00 and gave the company a “buy” rating in a report on Monday, November 11th. Robert W. Baird lifted their target price on Genpact from $44.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. TD Cowen increased their price target on Genpact from $40.00 to $45.00 and gave the company a “hold” rating in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. lifted their price objective on Genpact from $35.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Genpact has a consensus rating of “Hold” and a consensus price target of $42.33.

Genpact Stock Up 0.7 %

Shares of Genpact stock opened at $42.95 on Thursday. The firm has a market cap of $7.57 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 1.56 and a beta of 1.17. Genpact Limited has a one year low of $30.23 and a one year high of $47.98. The stock’s 50-day moving average is $43.40 and its 200 day moving average is $38.71. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.85 and a quick ratio of 1.85.

Genpact Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Monday, December 9th were paid a dividend of $0.1525 per share. This represents a $0.61 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend was Monday, December 9th. Genpact’s dividend payout ratio is presently 16.76%.

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.