Amundi Lowers Position in Gen Digital Inc. $GEN

Key Points

• Amundi significantly reduced its stake in Gen Digital Inc. by 62.6% during Q1, selling 1,928,095 shares and holding 1,152,901 shares valued at approximately $30 million.
• Several institutional investors increased their positions in Gen Digital during the same period, including Nuveen LLC which purchased shares valued at $299.6 million.
• The company's stock has fluctuated recently, with a current price of $29.50, and it is backed by a consensus rating of "Moderate Buy" from analysts, who have set an average target price of $36.50.

Amundi reduced its stake in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 62.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,152,901 shares of the company's stock after selling 1,928,095 shares during the period. Amundi owned about 0.19% of Gen Digital worth $29,975,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Alps Advisors Inc. increased its holdings in Gen Digital by 1.5% during the 1st quarter. Alps Advisors Inc. now owns 31,540 shares of the company's stock worth $837,000 after purchasing an additional 465 shares in the last quarter. Greenleaf Trust increased its holdings in Gen Digital by 3.9% during the 1st quarter. Greenleaf Trust now owns 18,001 shares of the company's stock worth $478,000 after purchasing an additional 668 shares in the last quarter. Mather Group LLC. increased its holdings in 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 purchasing an additional 783 shares in the last quarter. Catalyst Capital Advisors LLC increased its holdings in Gen Digital by 117.6% during the 1st quarter. Catalyst Capital Advisors LLC now owns 1,580 shares of the company's stock worth $42,000 after purchasing an additional 854 shares in the last quarter. Finally, Empirical Finance LLC increased its holdings in Gen Digital by 4.5% during the 1st quarter. Empirical Finance LLC now owns 20,151 shares of the company's stock worth $535,000 after purchasing an additional 863 shares in the last quarter. 81.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GEN has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price on Gen Digital from $37.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Evercore ISI initiated coverage on Gen Digital in a report on Tuesday, July 1st. They issued an "outperform" rating and a $35.00 target price for the company. B. Riley initiated coverage on Gen Digital in a report on Monday, July 14th. They issued a "buy" rating and a $46.00 target price for the company. Barclays upped their target price on Gen Digital from $32.00 to $33.00 and gave the company an "equal weight" rating in a report on Friday, August 8th. Finally, Wall Street Zen lowered Gen Digital from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 5th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $36.50.

Gen Digital Stock Performance

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

Gen Digital (NASDAQ:GEN - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.60 by $0.04. Gen Digital had a return on equity of 57.99% and a net margin of 14.12%.The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the company earned $0.53 earnings per share. The business's revenue for the quarter was up 30.3% on a year-over-year basis. 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, analysts anticipate that Gen Digital Inc. will post 2.05 earnings per share for the current fiscal year.

Gen Digital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Monday, August 18th were paid 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 yield of 1.7%. 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.