Alaska Permanent Fund Corp Sells 41,915 Shares of Genpact Limited (NYSE:G)

Alaska Permanent Fund Corp trimmed its position in Genpact Limited (NYSE:G) by 66.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,093 shares of the business services provider’s stock after selling 41,915 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Genpact were worth $732,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Cornercap Investment Counsel Inc. bought a new stake in shares of Genpact during the fourth quarter worth $1,122,000. Old Well Partners LLC grew its stake in shares of Genpact by 10.8% during the third quarter. Old Well Partners LLC now owns 135,731 shares of the business services provider’s stock worth $4,913,000 after buying an additional 13,200 shares during the last quarter. Greenhaven Associates Inc. acquired a new position in shares of Genpact during the fourth quarter worth $10,510,000. Earnest Partners LLC lifted its holdings in shares of Genpact by 128,860.6% during the third quarter. Earnest Partners LLC now owns 42,557 shares of the business services provider’s stock worth $1,541,000 after purchasing an additional 42,524 shares during the period. Finally, Oak Thistle LLC acquired a new position in shares of Genpact during the fourth quarter worth $1,651,000. 96.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on G shares. StockNews.com lowered shares of Genpact from a “strong-buy” rating to a “buy” rating in a report on Friday, April 5th. Mizuho assumed coverage on shares of Genpact in a report on Tuesday, January 30th. They set a “neutral” rating and a $40.00 price target on the stock. JPMorgan Chase & Co. boosted their target price on shares of Genpact from $42.00 to $43.00 and gave the company an “underweight” rating in a report on Friday, February 9th. Needham & Company LLC restated a “buy” rating and issued a $40.00 target price on shares of Genpact in a report on Friday, February 9th. Finally, Citigroup dropped their target price on shares of Genpact from $36.00 to $33.00 and set a “neutral” rating on the stock in a report on Monday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Genpact presently has an average rating of “Hold” and an average price target of $39.78.

Genpact Stock Performance

NYSE G opened at $30.67 on Friday. The company’s 50 day simple moving average is $33.17 and its two-hundred day simple moving average is $34.16. The stock has a market capitalization of $5.53 billion, a PE ratio of 8.94, a P/E/G ratio of 1.49 and a beta of 1.07. Genpact Limited has a 1 year low of $29.41 and a 1 year high of $44.63. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.44 and a quick ratio of 1.44.

Genpact (NYSE:G) last issued its quarterly earnings results on Thursday, February 8th. The business services provider reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. Genpact had a net margin of 14.10% and a return on equity of 23.19%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.12 billion. Analysts predict that Genpact Limited will post 2.7 earnings per share for the current fiscal year.

Genpact Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Monday, March 11th were issued a dividend of $0.153 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $0.61 annualized dividend and a dividend yield of 2.00%. This is a positive change from Genpact’s previous quarterly dividend of $0.14. Genpact’s dividend payout ratio (DPR) is currently 17.78%.

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.