Allianz Asset Management GmbH Lowers Stock Position in Gen Digital Inc. $GEN

Allianz Asset Management GmbH reduced its stake in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 35.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 495,257 shares of the company's stock after selling 268,420 shares during the period. Allianz Asset Management GmbH owned 0.08% of Gen Digital worth $14,561,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. New York State Teachers Retirement System lifted its holdings in Gen Digital by 4.8% in the 2nd quarter. New York State Teachers Retirement System now owns 538,111 shares of the company's stock worth $15,820,000 after purchasing an additional 24,536 shares in the last quarter. Sagespring Wealth Partners LLC lifted its holdings in Gen Digital by 5.7% in the 2nd quarter. Sagespring Wealth Partners LLC now owns 8,452 shares of the company's stock worth $248,000 after purchasing an additional 454 shares in the last quarter. Cornerstone Wealth Group LLC lifted its holdings in Gen Digital by 10.6% in the 2nd quarter. Cornerstone Wealth Group LLC now owns 15,706 shares of the company's stock worth $462,000 after purchasing an additional 1,503 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in Gen Digital in the 2nd quarter worth approximately $341,000. Finally, Vest Financial LLC lifted its holdings in Gen Digital by 15.3% in the 2nd quarter. Vest Financial LLC now owns 15,788 shares of the company's stock worth $464,000 after purchasing an additional 2,099 shares in the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on GEN shares. B. Riley started coverage on Gen Digital in a report on Monday, July 14th. They issued a "buy" rating and a $46.00 price target on the stock. Wells Fargo & Company lifted their price objective on Gen Digital from $37.00 to $40.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Evercore ISI started coverage on Gen Digital in a research note on Tuesday, July 1st. They issued an "outperform" rating and a $35.00 price objective on the stock. Morgan Stanley lifted their price objective on Gen Digital from $25.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Tuesday, September 2nd. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Gen Digital in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $35.71.

Gen Digital Stock Performance

NASDAQ GEN opened at $26.70 on Tuesday. The company has a market cap of $16.44 billion, a P/E ratio of 27.53, a P/E/G ratio of 0.89 and a beta of 0.94. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.50 and a current ratio of 0.50. The business's 50 day moving average price is $29.17 and its 200-day moving average price is $28.50. Gen Digital Inc. has a fifty-two week low of $22.74 and a fifty-two week high of $32.22.

Gen Digital (NASDAQ:GEN - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.04. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.19 billion. Gen Digital had a return on equity of 57.99% and a net margin of 14.12%.The company's revenue for the quarter was up 30.3% compared to the same quarter last year. During the same quarter in the previous year, the company 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. Sell-side analysts predict that Gen Digital Inc. will post 2.05 earnings per share for the current year.

Gen Digital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Monday, August 18th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $0.50 annualized dividend and a dividend yield of 1.9%. Gen Digital's payout ratio is currently 51.55%.

About Gen Digital

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.

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