361,310 Shares in Gen Digital Inc. $GEN Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company acquired a new stake in Gen Digital Inc. (NASDAQ:GEN - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 361,310 shares of the company's stock, valued at approximately $8,993,000. The Manufacturers Life Insurance Company owned 0.06% of Gen Digital as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in GEN. Larson Financial Group LLC raised its position in shares of Gen Digital by 20.9% in the third quarter. Larson Financial Group LLC now owns 2,255 shares of the company's stock valued at $64,000 after buying an additional 390 shares in the last quarter. Trust Co. of Vermont acquired a new stake in Gen Digital during the second quarter worth approximately $32,000. EverSource Wealth Advisors LLC grew its position in Gen Digital by 14.5% during the first quarter. EverSource Wealth Advisors LLC now owns 3,376 shares of the company's stock worth $64,000 after buying an additional 427 shares in the last quarter. Vident Advisory LLC increased its stake in Gen Digital by 1.6% during the 3rd quarter. Vident Advisory LLC now owns 26,906 shares of the company's stock worth $764,000 after acquiring an additional 428 shares during the period. Finally, Fisher Asset Management LLC raised its holdings in Gen Digital by 5.9% in the 4th quarter. Fisher Asset Management LLC now owns 7,735 shares of the company's stock valued at $210,000 after acquiring an additional 430 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company's stock.

Gen Digital Trading Up 1.7%

Shares of GEN opened at $31.02 on Friday. Gen Digital Inc. has a 52-week low of $17.78 and a 52-week high of $31.29. The business's fifty day moving average is $27.06 and its 200-day moving average is $23.81. 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 $18.57 billion, a price-to-earnings ratio of 18.03 and a beta of 1.21.

Gen Digital (NASDAQ:GEN - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.02. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.31 billion. Gen Digital had a return on equity of 55.93% and a net margin of 20.73%.Gen Digital's revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the company earned $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. Equities analysts anticipate that Gen Digital Inc. will post 2.64 EPS for the current fiscal year.

Gen Digital Announces Dividend

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 issued a $0.125 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.6%. Gen Digital's dividend payout ratio is 29.07%.

Insider Activity

In related news, Director John C. Chrystal purchased 3,000 shares of the firm's stock in a transaction that occurred on Thursday, June 4th. The shares were bought at an average cost of $27.06 per share, with a total value of $81,180.00. Following the acquisition, the director owned 31,419 shares of the company's stock, valued at $850,198.14. This trade represents a 10.56% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ondrej Vlcek sold 200,000 shares of the company's stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $30.00, for a total transaction of $6,000,000.00. Following the transaction, the director owned 3,332,904 shares of the company's stock, valued at approximately $99,987,120. This represents a 5.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 630,260 shares of company stock worth $17,967,726. Corporate insiders own 9.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GEN shares. Weiss Ratings upgraded Gen Digital from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, July 15th. Wall Street Zen downgraded Gen Digital from a "buy" rating to a "hold" rating in a research note on Sunday, August 16th. Argus raised shares of Gen Digital to a "strong-buy" rating in a research report on Friday, May 22nd. Wells Fargo & Company increased their price objective on shares of Gen Digital from $22.00 to $28.00 and gave the stock an "equal weight" rating in a research note on Friday, August 7th. Finally, Royal Bank Of Canada raised their target price on shares of Gen Digital from $27.00 to $30.00 and gave the company a "sector perform" rating in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $31.67.

About Gen Digital

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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