Alberta Investment Management Corp Buys 300,000 Shares of Gen Digital Inc. $GEN

Key Points

• Alberta Investment Management Corp increased its Gen Digital stake by 24% in the fourth quarter, buying 300,000 additional shares and bringing its holdings to 1.55 million shares valued at about $42.1 million.
• Gen Digital reported better-than-expected quarterly results, with EPS of $0.67 versus $0.65 expected and revenue of $1.28 billion, up 27% year over year.
• The stock has drawn mixed analyst views, with a consensus rating of Hold and an average price target of $31.29, while shares were recently trading around $24.18.

Alberta Investment Management Corp lifted its stake in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 24.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,550,000 shares of the company's stock after acquiring an additional 300,000 shares during the quarter. Alberta Investment Management Corp owned approximately 0.26% of Gen Digital worth $42,144,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of GEN. International Assets Investment Management LLC bought a new stake in Gen Digital during the 4th quarter valued at $27,000. Clearstead Advisors LLC grew its holdings in Gen Digital by 48.6% during the 3rd quarter. Clearstead Advisors LLC now owns 1,223 shares of the company's stock worth $35,000 after acquiring an additional 400 shares in the last quarter. TD Private Client Wealth LLC grew its holdings in Gen Digital by 65.8% during the 4th quarter. TD Private Client Wealth LLC now owns 1,539 shares of the company's stock worth $42,000 after acquiring an additional 611 shares in the last quarter. Geneos Wealth Management Inc. increased its position in Gen Digital by 221.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company's stock valued at $46,000 after purchasing an additional 1,183 shares during the period. Finally, MUFG Securities EMEA plc purchased a new position in Gen Digital during the 2nd quarter valued at about $47,000. Institutional investors own 81.38% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on GEN shares. Barclays upped their price target on shares of Gen Digital from $26.00 to $27.00 and gave the stock an "equal weight" rating in a research report on Friday, May 8th. Wall Street Zen raised shares of Gen Digital from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Jefferies Financial Group downgraded shares of Gen Digital from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. Argus raised shares of Gen Digital to a "strong-buy" rating in a research note on Friday, May 22nd. Finally, Wells Fargo & Company assumed coverage on Gen Digital in a report on Tuesday, March 3rd. They set an "equal weight" rating and a $22.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Gen Digital presently has an average rating of "Hold" and a consensus price target of $31.29.

Gen Digital Trading Up 1.1%

NASDAQ:GEN opened at $24.18 on Friday. The stock has a market capitalization of $14.57 billion, a price-to-earnings ratio of 15.30 and a beta of 1.21. Gen Digital Inc. has a 52 week low of $17.78 and a 52 week high of $32.22. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 3.07. The firm has a 50 day moving average of $22.54 and a 200 day moving average of $23.52.

Gen Digital (NASDAQ:GEN - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.02. Gen Digital had a net margin of 19.46% and a return on equity of 55.47%. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the company earned $0.59 earnings per share. The business's revenue for the quarter was up 27.0% on a year-over-year basis. Gen Digital has set its Q1 2027 guidance at 0.680-0.700 EPS and its FY 2027 guidance at 2.850-2.950 EPS. As a group, sell-side analysts anticipate that Gen Digital Inc. will post 2.59 earnings per share for the current fiscal year.

Gen Digital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, May 18th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Monday, May 18th. Gen Digital's dividend payout ratio is currently 31.65%.

Insider Activity

In other Gen Digital news, Director Ondrej Vlcek sold 100,000 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $24.78, for a total value of $2,478,000.00. Following the completion of the sale, the director directly owned 3,832,724 shares in the company, valued at approximately $94,974,900.72. This trade represents a 2.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John C. Chrystal bought 3,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was bought at an average price of $27.06 per share, with a total value of $81,180.00. Following the completion of the purchase, the director directly owned 31,419 shares in the company, valued at $850,198.14. This represents a 10.56% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 9.30% of the company's stock.

Gen Digital Profile

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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