HB Wealth Management Llc Lowers Position in Genpact Limited, Announces New Quarterly Dividend
As the fourth quarter of 2020 came to a close, HB Wealth Management LLC lowered its position in shares of Genpact Limited (NYSE:G) by 10.9%. This was reported on the company’s most recent Form 13F filing with the Securities and Exchange Commission. During the quarter, the firm sold 3,283 shares, resulting in ownership of only 26,957 shares at the end of the period.
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According to public records, this shift may have saved HB Wealth around $1,249,000 over time. Looking back even further, Genpact recently announced an increase in its quarterly dividend. Shareholders were issued a dividend of $0.1375 per share on Friday, March 24th – an improvement from previous quarters where only $0.13 was issued each time.
Despite these changes in stock ownership and issuance rates; however insiders have been selling shares as well.
SVP Heather White sold nearly 25% of her stake in Genpact Limited earlier this year for approximately $244k worth of shares while SVP Balkrishan Kalra divested himself of $946k worth more latterly. The two executives combined for additional insider sales totaling more than $10 million over three months. These actions are significant despite representing just under three percent of corporate insiders’ holdings overall
There is no saying how such moves could impact long-term investments or trends across relevant markets; however, it is worth noting that many industry analysts view them as cautious but necessary because they indicate both confidence and concern about where those stocks may be headed next. Whatever happens next – investors will undoubtedly keep their eyes fixed firmly on firms like Genpact as uncertainty continues to reign supreme across global markets and economies alike.
Genpact: Institutional Investments, Ratings & Quarterly Dividend Recap
Genpact: An Overview of Institutional Investments, Ratings & Quarterly Dividend
Genpact Limited (NYSE: G), a global business services provider, has recently garnered the attention of several institutional investors and hedge funds. Ronal Blue Trust Inc., Exchange Traded Concepts LLC, Cullen Frost Bankers Inc., IFP Advisors Inc., and Castleview Partners LLC have all added to or reduced their stakes in the company. Hedge funds and other institutional investors now own 95.17% of Genpact’s stock.
The company has also received positive ratings from multiple equities analysts in recent months. Citigroup upped its price target on Genpact from $52 to $54 per share, while StockNews.com upgraded its rating from a “buy” to a “strong buy”. Meanwhile, BMO Capital Markets increased its price target from $51 to $53 and gave the stock a “market perform” rating. Though JPMorgan Chase & Co. downgraded Genpact from “overweight” to “neutral,” Needham & Company LLC reiterated its “buy” rating with a target price of $56 per share.
Despite mixed opinions among analysts, shareholders were encouraged by Genpact’s decision to increase its quarterly dividend by half a cent per share, paying out $0.1375 per share on Friday, March 24th. Shareholders of record as of March 10th were eligible for the new payout amount. The dividend yield now sits at 1.21%, which signals continued growth for the long term.
Genpact’s stock opened at $45.52 on Friday and trades with an average volume of over one million shares per day. With a market capitalization of $8.36 billion, a P/E ratio of 24.21 and a beta of 1.21, Genpact is poised to remain a strong competitor within its industry.
The company’s most recent earnings release showcased impressive results, with earnings per share (EPS) surpassing consensus estimates by $0.03. Revenue during the quarter was $1.10 billion, which also exceeded analyst expectations.
While Genpact’s ratings have varied in recent months, its ability to deliver consistently positive results and increase shareholder value has earned it a “Moderate Buy” consensus rating and an average target price of $52.50 according to Bloomberg.
The post HB Wealth Management LLC Lowers Position in Genpact Limited, Announces New Quarterly Dividend amidst Insider Selling appeared first on Best Stocks.
