106,381 Shares in Gen Digital Inc. $GEN Bought by Nykredit A S

Key Points

• Nykredit A S acquired 106,381 shares of Gen Digital in the second quarter, valued at approximately $2.65 million. Institutional investors collectively own 81.38% of the company.
• Gen Digital exceeded quarterly expectations, reporting $0.71 EPS and $1.34 billion in revenue, while revenue increased 6.3% year over year. The company also pays a quarterly dividend of $0.125, representing a 1.8% yield.
• Analysts maintain a consensus “Hold” rating with an average price target of $31.60, while insiders have sold 558,508 shares worth about $16.36 million over the past 90 days.

Nykredit A S bought a new stake in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 106,381 shares of the company's stock, valued at approximately $2,648,000.

A number of other hedge funds have also bought and sold shares of GEN. Legal & General Group Plc bought a new stake in shares of Gen Digital in the 2nd quarter worth about $225,169,000. Deutsche Bank AG purchased a new stake in Gen Digital in the 2nd quarter worth about $146,639,000. Bank of New York Mellon Corp bought a new stake in Gen Digital in the second quarter worth about $108,421,000. Arrowstreet Capital Limited Partnership lifted its stake in Gen Digital by 45.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 13,094,386 shares of the company's stock worth $246,567,000 after purchasing an additional 4,115,676 shares during the last quarter. Finally, Bank of America Corp DE purchased a new position in shares of Gen Digital during the second quarter valued at approximately $62,004,000. Institutional investors own 81.38% of the company's stock.

Insider Buying and Selling

In related news, COO Bryan Seuk Ko sold 28,248 shares of Gen Digital stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $30.67, for a total transaction of $866,366.16. Following the completion of the transaction, the chief operating officer directly owned 744,262 shares in the company, valued at approximately $22,826,515.54. This trade represents a 3.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Travis Witteveen sold 30,000 shares of Gen Digital stock in a transaction on Monday, August 10th. The shares were sold at an average price of $29.42, for a total transaction of $882,600.00. Following the completion of the transaction, the insider directly owned 496,545 shares of the company's stock, valued at $14,608,353.90. The trade was a 5.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 558,508 shares of company stock valued at $16,356,093 over the last ninety days. Company insiders own 9.70% of the company's stock.

Gen Digital Stock Performance

GEN stock opened at $27.29 on Wednesday. The company has a debt-to-equity ratio of 3.00, a quick ratio of 0.47 and a current ratio of 0.47. The firm has a market cap of $16.34 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 0.92 and a beta of 1.22. Gen Digital Inc. has a one year low of $17.78 and a one year high of $31.65. The firm has a 50-day simple moving average of $28.70 and a two-hundred day simple moving average of $24.67.

Gen Digital (NASDAQ:GEN - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.02. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.31 billion. Gen Digital had a return on equity of 55.93% and a net margin of 20.73%.The firm's quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.64 EPS. Gen Digital has set its FY 2027 guidance at 2.870-2.970 EPS and its Q2 2027 guidance at 0.710-0.730 EPS. On average, equities analysts forecast that Gen Digital Inc. will post 2.64 EPS for the current fiscal year.

Gen Digital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 9th. Stockholders of record on Monday, August 17th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Monday, August 17th. Gen Digital's dividend payout ratio is 29.07%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wells Fargo & Company upped their target price on Gen Digital from $22.00 to $28.00 and gave the company an "equal weight" rating in a research note on Friday, August 7th. Barclays raised their price target on Gen Digital from $27.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Friday, August 7th. Weiss Ratings raised Gen Digital from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, July 15th. Royal Bank Of Canada upped their price objective on Gen Digital from $27.00 to $30.00 and gave the company a "sector perform" rating in a research report on Friday, August 7th. Finally, Wall Street Zen lowered Gen Digital from a "buy" rating to a "hold" rating in a research note on Sunday, August 16th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Gen Digital has a consensus rating of "Hold" and a consensus price target of $31.60.

Gen Digital Company Profile

Gen Digital Inc NASDAQ: GEN is a global cybersecurity and consumer safety company that provides products designed to help individuals and families protect their devices, online identities, personal information and digital privacy. The company serves customers through a portfolio of consumer-focused cybersecurity and privacy brands.

Its products and services include antivirus and device security, identity theft protection, virtual private networks, password management, online privacy tools, scam protection and family safety features.

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