Advisors Asset Management Inc. Boosts Position in Gen Digital Inc. $GEN

Key Points

• Advisors Asset Management Inc. increased its stake in Gen Digital Inc. by 51.6%, owning 78,092 shares worth approximately $2,073,000 as of the latest filing.
• Gen Digital reported $0.64 earnings per share (EPS) for the most recent quarter, exceeding expectations of $0.60, with revenue increasing by 30.3% year-over-year.
• The company also announced a quarterly dividend of $0.125 per share, reflecting an annualized dividend yield of 1.7% and a payout ratio of 51.55%.

Advisors Asset Management Inc. raised its position in Gen Digital Inc. (NASDAQ:GEN - Free Report) by 51.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 78,092 shares of the company's stock after acquiring an additional 26,571 shares during the quarter. Advisors Asset Management Inc.'s holdings in Gen Digital were worth $2,073,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its stake in Gen Digital by 132.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 599,821 shares of the company's stock worth $16,039,000 after acquiring an additional 341,533 shares during the last quarter. Mather Group LLC. lifted its position in shares of Gen Digital by 26.6% during the 1st quarter. Mather Group LLC. now owns 3,730 shares of the company's stock worth $99,000 after buying an additional 783 shares during the last quarter. Cornerstone Wealth Group LLC purchased a new stake in shares of Gen Digital during the 1st quarter worth approximately $377,000. Wellington Management Group LLP lifted its position in shares of Gen Digital by 98.8% during the 4th quarter. Wellington Management Group LLP now owns 114,699 shares of the company's stock worth $3,140,000 after buying an additional 56,993 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in shares of Gen Digital by 52.4% during the 1st quarter. Exchange Traded Concepts LLC now owns 11,146 shares of the company's stock worth $296,000 after buying an additional 3,830 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company's stock.

Wall Street Analysts Forecast Growth

GEN has been the subject of several recent analyst reports. Morgan Stanley boosted their price objective on shares of Gen Digital from $25.00 to $32.00 and gave the stock an "equal weight" rating in a research report on Tuesday, September 2nd. Barclays boosted their price objective on shares of Gen Digital from $32.00 to $33.00 and gave the company an "equal weight" rating in a research note on Friday, August 8th. B. Riley initiated coverage on shares of Gen Digital in a research note on Monday, July 14th. They set a "buy" rating and a $46.00 price target on the stock. Wall Street Zen cut shares of Gen Digital from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th. Finally, Evercore ISI began coverage on shares of Gen Digital in a research note on Tuesday, July 1st. They set an "outperform" rating and a $35.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $36.50.

Gen Digital Trading Down 1.4%

Shares of GEN stock traded down $0.43 during trading hours on Friday, hitting $29.25. 783,057 shares of the company were exchanged, compared to its average volume of 4,084,143. The firm has a market cap of $18.01 billion, a PE ratio of 30.16, a PEG ratio of 0.98 and a beta of 0.99. Gen Digital Inc. has a 1 year low of $22.74 and a 1 year high of $32.22. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 3.63. The firm has a fifty day moving average of $30.21 and a 200 day moving average of $28.34.

Gen Digital (NASDAQ:GEN - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.04. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.19 billion. Gen Digital had a net margin of 14.12% and a return on equity of 57.99%. The company's revenue was up 30.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 EPS. Gen Digital has set its Q2 2026 guidance at 0.600-0.620 EPS. FY 2026 guidance at 2.490-2.560 EPS. Analysts expect that Gen Digital Inc. will post 2.05 earnings per share for the current year.

Gen Digital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Monday, August 18th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Monday, August 18th. Gen Digital's dividend payout ratio is presently 51.55%.

Gen Digital Company 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.