Amundi Sells 826,732 Shares of Gen Digital Inc. $GEN

Amundi trimmed its position in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 19.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,325,613 shares of the company's stock after selling 826,732 shares during the quarter. Amundi owned about 0.56% of Gen Digital worth $82,775,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in Gen Digital during the fourth quarter valued at approximately $27,000. Grove Bank & Trust lifted its holdings in shares of Gen Digital by 452.2% during the 2nd quarter. Grove Bank & Trust now owns 1,132 shares of the company's stock valued at $28,000 after purchasing an additional 927 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of Gen Digital by 65.8% during the 4th quarter. TD Private Client Wealth LLC now owns 1,539 shares of the company's stock valued at $42,000 after purchasing an additional 611 shares during the last quarter. MUFG Securities EMEA plc acquired a new stake in shares of Gen Digital in the 2nd quarter worth $47,000. Finally, Geneos Wealth Management Inc. boosted its position in shares of Gen Digital by 221.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company's stock worth $46,000 after purchasing an additional 1,183 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors.

Gen Digital Stock Performance

Shares of GEN stock opened at $29.76 on Thursday. The firm has a market capitalization of $17.81 billion, a price-to-earnings ratio of 17.30, a price-to-earnings-growth ratio of 0.94 and a beta of 1.22. The company has a debt-to-equity ratio of 3.00, a current ratio of 0.47 and a quick ratio of 0.47. The business has a fifty day moving average of $28.06 and a 200 day moving average of $24.19. Gen Digital Inc. has a 1 year low of $17.78 and a 1 year high of $31.65.

Gen Digital (NASDAQ:GEN - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.02. Gen Digital had a return on equity of 55.93% and a net margin of 20.73%.The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the previous year, the business earned $0.64 EPS. The company's quarterly revenue was up 6.3% compared to the same quarter last year. Gen Digital has set its FY 2027 guidance at 2.870-2.970 EPS and its Q2 2027 guidance at 0.710-0.730 EPS. As a group, research analysts expect that Gen Digital Inc. will post 2.64 earnings per share for the current year.

Gen Digital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Monday, August 17th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.7%. The ex-dividend date was Monday, August 17th. Gen Digital's dividend payout ratio is 29.07%.

Insider Buying and Selling

In other Gen Digital news, Director Ondrej Vlcek sold 200,000 shares of the firm's stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $30.00, for a total transaction of $6,000,000.00. Following the completion of the transaction, the director directly owned 3,332,904 shares of the company's stock, valued at approximately $99,987,120. This trade represents a 5.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Bryan Seuk Ko sold 28,248 shares of Gen Digital stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $30.67, for a total transaction of $866,366.16. Following the sale, the chief operating officer owned 744,262 shares of the company's stock, valued at approximately $22,826,515.54. The trade was a 3.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 558,508 shares of company stock worth $16,356,093. 9.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

GEN has been the topic of several recent analyst reports. Royal Bank Of Canada upped their target price on Gen Digital from $27.00 to $30.00 and gave the company a "sector perform" rating in a research report on Friday, August 7th. Wall Street Zen downgraded Gen Digital from a "buy" rating to a "hold" rating in a report on Sunday, August 16th. Barclays raised their price target on Gen Digital from $27.00 to $32.00 and gave the stock an "equal weight" rating in a report on Friday, August 7th. Wells Fargo & Company boosted their price target on Gen Digital from $22.00 to $28.00 and gave the stock an "equal weight" rating in a research note on Friday, August 7th. Finally, Weiss Ratings upgraded shares of Gen Digital from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $31.60.

Gen Digital Company Profile

Gen Digital Inc NASDAQ: GEN is a global cybersecurity and consumer safety company that provides products designed to help individuals and families protect their devices, online identities, personal information and digital privacy. The company serves customers through a portfolio of consumer-focused cybersecurity and privacy brands.

Its products and services include antivirus and device security, identity theft protection, virtual private networks, password management, online privacy tools, scam protection and family safety features.

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