Genpact Limited (G) Announces Dividend Increase – $0.08 Per Share
Genpact Limited (NYSE:G) announced a quarterly dividend on Monday, February 12th, Zacks reports. Stockholders of record on Friday, March 9th will be given a dividend of 0.075 per share by the business services provider on Wednesday, March 21st. This represents a $0.30 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Thursday, March 8th. This is an increase from Genpact’s previous quarterly dividend of $0.06.
Genpact has a dividend payout ratio of 16.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Genpact to earn $1.75 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 13.7%.
Genpact (NYSE:G) traded up $0.38 on Friday, hitting $31.68. The stock had a trading volume of 560,695 shares, compared to its average volume of 787,672. The company has a market cap of $6,055.90, a P/E ratio of 23.64, a PEG ratio of 2.02 and a beta of 0.63. Genpact has a 52 week low of $23.34 and a 52 week high of $34.79. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.65 and a current ratio of 1.65.
Several research firms have recently issued reports on G. Zacks Investment Research downgraded Genpact from a “hold” rating to a “sell” rating in a research note on Thursday, February 15th. JPMorgan Chase & Co. decreased their price target on Genpact from $38.00 to $37.00 and set a “neutral” rating for the company in a research note on Wednesday, February 14th. Citigroup decreased their price target on Genpact from $39.00 to $37.50 and set a “buy” rating for the company in a research note on Tuesday, February 13th. BMO Capital Markets upped their price target on Genpact to $35.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 13th. Finally, Cantor Fitzgerald reiterated a “buy” rating and set a $36.00 price target on shares of Genpact in a research note on Tuesday, February 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $34.65.
In related news, Director James C. Madden sold 4,270 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $30.92, for a total transaction of $132,028.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider N. V. Tyagarajan sold 77,619 shares of the stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $32.23, for a total value of $2,501,660.37. Following the sale, the insider now owns 244,755 shares of the company’s stock, valued at approximately $7,888,453.65. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 127,434 shares of company stock valued at $4,140,631. 1.41% of the stock is owned by corporate insiders.
An institutional investor recently raised its position in Genpact stock. The Manufacturers Life Insurance Company boosted its holdings in shares of Genpact Limited (NYSE:G) by 7.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,508 shares of the business services provider’s stock after purchasing an additional 455 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Genpact were worth $181,000 at the end of the most recent quarter. 94.18% of the stock is currently owned by institutional investors.
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Genpact Company Profile
Genpact Limited is engaged in providing digitally powered business process management and services. The Company is also engaged in designing, transforming and running a combination of processes, as well as providing solutions that combine elements of its service offerings. The Company’s segments include Business process outsourcing and Information technology services.
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