Paradigm Capital Management Inc. NY purchased a new stake in Gen Digital Inc. (NASDAQ:GEN - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 36,000 shares of the company's stock, valued at approximately $896,000.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Assenagon Asset Management S.A. acquired a new stake in shares of Gen Digital during the second quarter worth about $25,920,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Gen Digital by 9.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,155,639 shares of the company's stock worth $30,128,000 after buying an additional 102,345 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Gen Digital by 3.8% in the 4th quarter. Legal & General Group Plc now owns 9,085,216 shares of the company's stock valued at $247,027,000 after acquiring an additional 334,156 shares during the period. National Pension Service raised its position in Gen Digital by 13.6% in the 4th quarter. National Pension Service now owns 934,892 shares of the company's stock valued at $25,420,000 after purchasing an additional 112,136 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Gen Digital by 17.9% in the first quarter. The Manufacturers Life Insurance Company now owns 384,754 shares of the company's stock valued at $7,245,000 after purchasing an additional 58,319 shares during the period. 81.38% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other Gen Digital news, insider Travis Michael Witteveen sold 30,000 shares of Gen Digital stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $29.42, for a total value of $882,600.00. Following the completion of the transaction, the insider directly owned 496,545 shares in the company, valued at $14,608,353.90. The trade was a 5.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ondrej Vlcek sold 100,000 shares of the company's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $28.00, for a total value of $2,800,000.00. Following the transaction, the director owned 3,732,724 shares of the company's stock, valued at approximately $104,516,272. The trade was a 2.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 230,440 shares of company stock worth $6,172,946. 9.70% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on GEN. Wall Street Zen lowered Gen Digital from a "buy" rating to a "hold" rating in a report on Sunday, August 16th. Argus raised Gen Digital to a "strong-buy" rating in a report on Friday, May 22nd. Barclays increased their target price 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 upgraded Gen Digital from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, July 15th. Finally, Jefferies Financial Group downgraded Gen Digital from a "strong-buy" rating to a "hold" rating in a report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Gen Digital presently has a consensus rating of "Hold" and an average target price of $31.67.
Read Our Latest Stock Report on GEN
Gen Digital Stock Up 0.6%
Shares of NASDAQ GEN opened at $29.11 on Tuesday. The firm has a fifty day moving average of $26.59 and a 200-day moving average of $23.62. The stock has a market capitalization of $17.42 billion, a PE ratio of 16.92 and a beta of 1.21. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 3.00. Gen Digital Inc. has a 52-week low of $17.78 and a 52-week high of $31.57.
Gen Digital (NASDAQ:GEN - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.69 by $0.02. Gen Digital had a return on equity of 55.93% and a net margin of 20.73%.The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period last year, the business posted $0.64 EPS. The company's revenue was up 6.3% on a year-over-year basis. 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, analysts anticipate that Gen Digital Inc. will post 2.64 EPS for the current year.
Gen Digital Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 17th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Monday, August 17th. Gen Digital's dividend payout ratio is 29.07%.
Gen Digital Company Profile
(
Free Report)
Gen Digital NASDAQ: GEN is a global cybersecurity company specializing in consumer- and small-business-focused security, privacy, and identity protection solutions. The company offers a suite of products designed to safeguard devices, networks, and personal information against malware, ransomware, phishing attacks and other digital threats. With a focus on user-friendly interfaces and cross-platform compatibility, Gen Digital develops antivirus software, VPN services, parental controls, password management tools, and comprehensive identity-theft monitoring services.
Gen Digital traces its origins to the consumer software division of Symantec Corporation, which was spun off in late 2019 under the NortonLifeLock name.
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