Principal Financial Group Inc. Purchases 594,289 Shares of Genpact Limited (NYSE:G)

Principal Financial Group Inc. increased its position in shares of Genpact Limited (NYSE:G) by 3,705.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 610,327 shares of the business services provider’s stock after acquiring an additional 594,289 shares during the period. Principal Financial Group Inc. owned approximately 0.33% of Genpact worth $27,727,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Captrust Financial Advisors increased its holdings in Genpact by 449.6% during the 1st quarter. Captrust Financial Advisors now owns 643 shares of the business services provider’s stock worth $28,000 after acquiring an additional 526 shares during the period. Lazard Asset Management LLC purchased a new position in Genpact in the 1st quarter worth approximately $47,000. Rockefeller Capital Management L.P. grew its stake in Genpact by 1,065.5% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 1,317 shares of the business services provider’s stock worth $59,000 after buying an additional 1,204 shares in the last quarter. Quadrant Capital Group LLC grew its stake in Genpact by 71.3% in the 1st quarter. Quadrant Capital Group LLC now owns 1,932 shares of the business services provider’s stock worth $83,000 after buying an additional 804 shares in the last quarter. Finally, Guardian Wealth Advisors LLC purchased a new position in Genpact in the 1st quarter worth approximately $114,000. 96.95% of the stock is currently owned by institutional investors and hedge funds.

Shares of G opened at $48.27 on Thursday. The stock has a market capitalization of $9.06 billion, a P/E ratio of 26.67, a PEG ratio of 1.65 and a beta of 1.41. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.70. The firm has a fifty day simple moving average of $50.38 and a two-hundred day simple moving average of $46.88. Genpact Limited has a twelve month low of $33.91 and a twelve month high of $52.75.

Genpact (NYSE:G) last announced its quarterly earnings results on Thursday, August 5th. The business services provider reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.10. The business had revenue of $988.13 million during the quarter, compared to analysts’ expectations of $965.21 million. Genpact had a net margin of 9.28% and a return on equity of 24.34%. Sell-side analysts expect that Genpact Limited will post 2.07 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 24th. Shareholders of record on Friday, September 10th will be given a dividend of $0.108 per share. The ex-dividend date is Thursday, September 9th. This represents a $0.43 annualized dividend and a yield of 0.89%. Genpact’s payout ratio is currently 23.24%.

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Genpact from $55.00 to $61.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 17th. Needham & Company LLC boosted their price target on shares of Genpact from $54.00 to $61.00 and gave the stock a “buy” rating in a research note on Friday, August 6th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Genpact currently has an average rating of “Buy” and a consensus price target of $52.00.

In related news, Director Carol Lindstrom sold 2,000 shares of the stock in a transaction dated Tuesday, August 10th. The shares were sold at an average price of $50.49, for a total value of $100,980.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Balkrishan Kalra sold 5,000 shares of the stock in a transaction dated Wednesday, September 15th. The stock was sold at an average price of $50.18, for a total transaction of $250,900.00. The disclosure for this sale can be found here. Corporate insiders own 2.39% of the company’s stock.

Genpact Profile

Genpact Ltd. engages in the business process management, outsourcing, shared services and information outsourcing. The company operates through the following segments: Banking, Capital Markets and Insurance (BCMI), Consumer Goods, Retail, Life Sciences, and Healthcare (CGRLH) and High Tech, Manufacturing, and Services (HMS).

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Institutional Ownership by Quarter for Genpact (NYSE:G)

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