MetLife Investment Management LLC Sells 2,443 Shares of Genpact Limited (NYSE:G)

MetLife Investment Management LLC reduced its holdings in Genpact Limited (NYSE:G) by 2.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 84,929 shares of the business services provider’s stock after selling 2,443 shares during the quarter. MetLife Investment Management LLC’s holdings in Genpact were worth $3,330,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. CWM LLC grew its holdings in shares of Genpact by 160.8% during the second quarter. CWM LLC now owns 952 shares of the business services provider’s stock worth $31,000 after buying an additional 587 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its stake in Genpact by 54.3% in the second quarter. Massmutual Trust Co. FSB ADV now owns 2,797 shares of the business services provider’s stock valued at $90,000 after purchasing an additional 984 shares in the last quarter. Venturi Wealth Management LLC grew its stake in Genpact by 74.6% in the third quarter. Venturi Wealth Management LLC now owns 2,623 shares of the business services provider’s stock valued at $103,000 after purchasing an additional 1,121 shares in the last quarter. GAMMA Investing LLC grew its stake in Genpact by 221.3% in the third quarter. GAMMA Investing LLC now owns 3,329 shares of the business services provider’s stock valued at $131,000 after purchasing an additional 2,293 shares in the last quarter. Finally, Centaurus Financial Inc. bought a new position in Genpact in the third quarter valued at approximately $159,000. 96.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Genpact news, CEO Balkrishan Kalra sold 9,000 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $46.40, for a total transaction of $417,600.00. Following the transaction, the chief executive officer now owns 267,404 shares in the company, valued at $12,407,545.60. This trade represents a 3.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.80% of the stock is currently owned by insiders.

Genpact Stock Performance

NYSE:G opened at $45.65 on Wednesday. The stock has a market cap of $8.05 billion, a P/E ratio of 12.54, a PEG ratio of 1.60 and a beta of 1.18. The stock has a 50 day simple moving average of $41.45 and a 200 day simple moving average of $37.18. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.50. Genpact Limited has a 1-year low of $30.23 and a 1-year high of $47.98.

Genpact Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Monday, December 9th will be issued a dividend of $0.1525 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.61 annualized dividend and a yield of 1.34%. Genpact’s payout ratio is currently 16.76%.

Analysts Set New Price Targets

G has been the subject of a number of analyst reports. Needham & Company LLC raised their price target on Genpact from $42.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Robert W. Baird raised their price target on Genpact from $44.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. raised their price target on Genpact from $35.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. TD Cowen raised their price objective on Genpact from $40.00 to $45.00 and gave the company a “hold” rating in a research report on Friday, November 8th. Finally, BMO Capital Markets raised their price objective on Genpact from $38.00 to $42.00 and gave the company a “market perform” rating in a research report on Monday, August 12th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $42.33.

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.