107,272 Shares in Gen Digital Inc. (NASDAQ:GEN) Purchased by ASR Vermogensbeheer N.V.

Key Points

• ASR Vermogensbeheer N.V. acquired a new stake in Gen Digital Inc., purchasing 107,272 shares valued at approximately $2.85 million in the first quarter.
• Institutional investors hold 81.38% of Gen Digital's stock, with significant increases from firms such as Vanguard Group, which raised its stake by 3.7% to own nearly 69.7 million shares.
• Gen Digital recently declared a quarterly dividend of $0.125, translating to an annualized yield of 1.8%; it has also reported strong earnings surpassing analysts' expectations in its latest quarterly update.

ASR Vermogensbeheer N.V. purchased a new stake in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 107,272 shares of the company's stock, valued at approximately $2,847,000.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Gen Digital by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 69,690,768 shares of the company's stock worth $1,849,593,000 after purchasing an additional 2,513,464 shares in the last quarter. iA Global Asset Management Inc. increased its holdings in Gen Digital by 176.4% during the first quarter. iA Global Asset Management Inc. now owns 74,839 shares of the company's stock worth $1,986,000 after buying an additional 47,764 shares during the last quarter. Blair William & Co. IL raised its position in Gen Digital by 15.8% during the first quarter. Blair William & Co. IL now owns 8,796 shares of the company's stock worth $233,000 after acquiring an additional 1,201 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Gen Digital by 13.3% during the first quarter. PNC Financial Services Group Inc. now owns 53,462 shares of the company's stock worth $1,419,000 after acquiring an additional 6,287 shares in the last quarter. Finally, LSV Asset Management lifted its stake in Gen Digital by 1.5% in the first quarter. LSV Asset Management now owns 8,208,034 shares of the company's stock valued at $217,841,000 after acquiring an additional 119,354 shares during the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Nora Denzel sold 31,646 shares of Gen Digital stock in a transaction on Friday, May 16th. The stock was sold at an average price of $28.76, for a total transaction of $910,138.96. Following the completion of the sale, the director owned 34,860 shares of the company's stock, valued at approximately $1,002,573.60. This trade represents a 47.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

GEN has been the topic of several recent analyst reports. Morgan Stanley lowered their price objective on shares of Gen Digital from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. B. Riley initiated coverage on Gen Digital in a report on Monday, July 14th. They set a "buy" rating and a $46.00 price target for the company. Evercore ISI assumed coverage on Gen Digital in a research note on Tuesday, July 1st. They issued an "outperform" rating and a $35.00 price objective on the stock. Wall Street Zen cut Gen Digital from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 5th. Finally, Royal Bank Of Canada lifted their target price on Gen Digital from $28.00 to $30.00 and gave the stock a "sector perform" rating in a research note on Wednesday, May 7th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Gen Digital currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.60.

Gen Digital Stock Down 1.5%

Shares of GEN opened at $28.27 on Friday. The firm has a market cap of $17.41 billion, a P/E ratio of 27.18, a price-to-earnings-growth ratio of 1.05 and a beta of 1.00. The company has a debt-to-equity ratio of 3.51, a quick ratio of 0.51 and a current ratio of 0.51. Gen Digital Inc. has a 52 week low of $22.74 and a 52 week high of $31.72. The firm's 50-day simple moving average is $29.59 and its 200 day simple moving average is $27.81.

Gen Digital (NASDAQ:GEN - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.04. Gen Digital had a return on equity of 59.38% and a net margin of 16.34%. The company had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter in the previous year, the company posted $0.53 earnings per share. The business's revenue was up 30.3% on a year-over-year basis. On average, analysts forecast that Gen Digital Inc. will post 2.05 earnings per share for the current year.

Gen Digital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Monday, August 18th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.8%. Gen Digital's dividend payout ratio is 48.08%.

Gen Digital Profile

Gen Digital Inc engages in the provision of cyber safety solutions for consumers in the United States, Canada, Latin America, Europe, the Middle East, Africa, the Asia Pacific, and Japan. The company offers security and performance products under Norton, Avast, Avira, AVG, and CCleaner brands that provide real-time protection and maintenance for PCs, Macs, and mobile devices against malware, viruses, adware, and other online threats.

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