Ameriprise Financial Inc. Purchases 768,652 Shares of Gen Digital Inc. $GEN

Key Points

• Ameriprise Financial Inc. increased its holdings in Gen Digital Inc. by 3.8%, now owning 21,067,048 shares valued at approximately $559.13 million.
• Gen Digital reported a quarterly earnings per share (EPS) of $0.64, exceeding analysts' expectations, with revenue of $1.26 billion, a 30.3% increase year-over-year.
• The company announced a quarterly dividend of $0.125 per share, to be paid on September 10th, representing an annual yield of 1.6%.

Ameriprise Financial Inc. increased its position in Gen Digital Inc. (NASDAQ:GEN - Free Report) by 3.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,067,048 shares of the company's stock after acquiring an additional 768,652 shares during the period. Ameriprise Financial Inc. owned about 3.42% of Gen Digital worth $559,126,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Norinchukin Bank The raised its holdings in Gen Digital by 16.0% in the 1st quarter. Norinchukin Bank The now owns 29,542 shares of the company's stock worth $784,000 after acquiring an additional 4,083 shares during the last quarter. Capital Fund Management S.A. raised its stake in Gen Digital by 69.0% during the 1st quarter. Capital Fund Management S.A. now owns 86,340 shares of the company's stock valued at $2,291,000 after buying an additional 35,246 shares during the last quarter. Capital Analysts LLC purchased a new stake in Gen Digital during the 1st quarter valued at $85,000. Erste Asset Management GmbH raised its stake in Gen Digital by 6.6% during the 1st quarter. Erste Asset Management GmbH now owns 100,987 shares of the company's stock valued at $2,669,000 after buying an additional 6,219 shares during the last quarter. Finally, Credit Agricole S A raised its stake in Gen Digital by 11.5% during the 1st quarter. Credit Agricole S A now owns 188,762 shares of the company's stock valued at $5,010,000 after buying an additional 19,404 shares during the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on GEN. Wells Fargo & Company boosted their target price on shares of Gen Digital from $37.00 to $40.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Wall Street Zen lowered shares of Gen Digital from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th. B. Riley began coverage on shares of Gen Digital in a research note on Monday, July 14th. They set a "buy" rating and a $46.00 target price for the company. Barclays boosted their target price 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. Finally, Royal Bank Of Canada boosted their target price on shares of Gen Digital from $32.00 to $33.00 and gave the company a "sector perform" rating in a research note on Friday, August 8th. One equities research 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, the stock has a consensus rating of "Moderate Buy" and an average target price of $35.33.

Gen Digital Stock Performance

Shares of GEN stock traded up $0.39 during mid-day trading on Friday, reaching $31.58. 3,609,020 shares of the company's stock traded hands, compared to its average volume of 4,023,761. Gen Digital Inc. has a 12 month low of $22.74 and a 12 month high of $32.22. The firm has a 50 day moving average price of $30.07 and a two-hundred day moving average price of $28.12. 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 firm has a market capitalization of $19.45 billion, a PE ratio of 32.56, a price-to-earnings-growth ratio of 1.06 and a beta of 1.00.

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

Gen Digital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 18th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $0.50 annualized dividend and a yield of 1.6%. Gen Digital's dividend payout ratio is currently 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.