201,947 Shares in Gen Digital Inc. $GEN Bought by Leuthold Group LLC

Leuthold Group LLC purchased a new stake in Gen Digital Inc. (NASDAQ:GEN - Free Report) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 201,947 shares of the company's stock, valued at approximately $4,447,000.

Several other institutional investors also recently made changes to their positions in GEN. Legal & General Group Plc acquired a new stake in shares of Gen Digital during the 2nd quarter worth $225,169,000. Deutsche Bank AG acquired a new position in Gen Digital in the second quarter valued at $146,639,000. Bank of New York Mellon Corp acquired a new position in Gen Digital in the second quarter valued at $108,421,000. Arrowstreet Capital Limited Partnership grew its position in Gen Digital by 45.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 13,094,386 shares of the company's stock valued at $246,567,000 after acquiring an additional 4,115,676 shares during the period. Finally, Bank of America Corp DE purchased a new stake in Gen Digital during the second quarter valued at about $62,004,000. 81.38% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Travis Witteveen sold 30,000 shares of the business's stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $29.75, for a total transaction of $892,500.00. Following the transaction, the insider directly owned 466,545 shares of the company's stock, valued at approximately $13,879,713.75. The trade was a 6.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Bryan Seuk Ko sold 28,248 shares of the company's stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $30.67, for a total value of $866,366.16. Following the completion of the transaction, the chief operating officer owned 744,262 shares of the company's stock, valued at approximately $22,826,515.54. This represents a 3.66% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 558,508 shares of company stock worth $16,365,993. 9.70% of the stock is currently owned by corporate insiders.

Gen Digital Stock Performance

NASDAQ:GEN opened at $29.80 on Tuesday. The firm's fifty day simple moving average is $26.55 and its 200 day simple moving average is $24.52. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.57. Gen Digital Inc. has a twelve month low of $17.78 and a twelve month high of $31.65. The firm has a market capitalization of $17.68 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 0.97 and a beta of 1.24.

Gen Digital (NASDAQ:GEN - Get Free Report) last announced its quarterly earnings results on Wednesday, October 28th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.02. Gen Digital had a return on equity of 56.80% and a net margin of 23.07%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the prior year, the firm earned $0.62 EPS. The firm's quarterly revenue was up 12.2% compared to the same quarter last year. As a group, equities research analysts expect that Gen Digital Inc. will post 2.65 earnings per share for the current fiscal year.

Gen Digital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 9th. Stockholders of record on Monday, November 16th will be given a $0.1250 dividend. The ex-dividend date of this dividend is Monday, November 16th. This represents a $0.50 annualized dividend and a dividend yield of 1.7%. Gen Digital's dividend payout ratio is presently 25.13%.

Analyst Upgrades and Downgrades

Several brokerages have commented on GEN. Weiss Ratings upgraded Gen Digital from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, November 4th. Wells Fargo & Company lifted their price objective 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. Morgan Stanley boosted their target price on Gen Digital from $32.00 to $34.00 and gave the stock an "equal weight" rating in a report on Thursday, October 29th. Barclays increased their target price on shares of Gen Digital from $27.00 to $32.00 and gave the stock an "equal weight" rating in a research report on Friday, August 7th. Finally, Royal Bank Of Canada raised their price target on shares of Gen Digital from $24.00 to $27.00 and gave the company a "sector perform" rating in a report on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $30.25.

Gen Digital Company Profile

Gen Digital Inc is a global cybersecurity company that provides digital safety and identity protection services to consumers and small businesses. Its products include antivirus and malware protection, virtual private networks, password managers, scam protection, and identity monitoring and recovery services.

The company offers services through brands including Norton, Avast, LifeLock, Avira, AVG, and CCleaner. Its products are available in markets around the world through direct subscriptions and other distribution channels.

Gen Digital was formed in 2022 when NortonLifeLock completed its acquisition of Avast and adopted the Gen name.

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