Arrowstreet Capital Limited Partnership Has $244.13 Million Position in Gen Digital Inc. $GEN

Key Points

• Arrowstreet Capital increased its Gen Digital stake by 36% in the fourth quarter, bringing its holdings to 8.98 million shares valued at about $244.1 million.
• Gen Digital reported quarterly earnings of $0.67 per share, topping estimates, while revenue rose 27% year over year to $1.28 billion.
• Analysts remain mostly cautious on the stock, with an overall “Hold” rating and average price target of $31.29; the company also paid a quarterly dividend of $0.125 per share, or a 2.1% annualized yield.

Arrowstreet Capital Limited Partnership raised its stake in Gen Digital Inc. (NASDAQ:GEN - Free Report) by 36.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,978,710 shares of the company's stock after buying an additional 2,377,874 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 1.48% of Gen Digital worth $244,131,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Kestra Advisory Services LLC boosted its position in Gen Digital by 41.0% during the 4th quarter. Kestra Advisory Services LLC now owns 14,762 shares of the company's stock worth $401,000 after acquiring an additional 4,289 shares during the last quarter. Maverick Capital Ltd. bought a new position in Gen Digital during the fourth quarter worth $529,000. Quartz Partners LLC boosted its position in Gen Digital by 3.0% during the fourth quarter. Quartz Partners LLC now owns 175,399 shares of the company's stock worth $4,769,000 after purchasing an additional 5,031 shares during the period. The Manufacturers Life Insurance Company boosted its position in Gen Digital by 2.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 326,435 shares of the company's stock worth $8,878,000 after purchasing an additional 6,453 shares during the period. Finally, Quarry LP bought a new position in Gen Digital during the fourth quarter worth $90,000. Institutional investors own 81.38% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Royal Bank Of Canada lifted their price objective on shares of Gen Digital from $22.00 to $24.00 and gave the stock a "sector perform" rating in a research report on Friday, May 8th. Barclays lifted their price objective 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. Wells Fargo & Company assumed coverage on shares of Gen Digital in a research report on Tuesday, March 3rd. They set an "equal weight" rating and a $22.00 price objective for the company. Zacks Research raised shares of Gen Digital from a "strong sell" rating to a "hold" rating in a research report on Wednesday, February 18th. Finally, Jefferies Financial Group cut Gen Digital from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $31.29.

Gen Digital Stock Performance

NASDAQ:GEN opened at $24.32 on Monday. The stock's 50-day simple moving average is $22.13 and its 200 day simple moving average is $23.58. The firm has a market capitalization of $14.65 billion, a PE ratio of 15.39 and a beta of 1.20. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 3.07. Gen Digital Inc. has a twelve month low of $17.78 and a twelve month high of $32.22.

Gen Digital (NASDAQ:GEN - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.02. Gen Digital had a return on equity of 55.47% and a net margin of 19.46%.The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period last year, the firm posted $0.59 earnings per share. Gen Digital's revenue was up 27.0% compared to the same quarter last year. 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. On average, analysts anticipate that Gen Digital Inc. will post 2.59 EPS for the current fiscal year.

Gen Digital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Monday, May 18th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Monday, May 18th. Gen Digital's dividend payout ratio (DPR) is presently 31.65%.

Insider Transactions at Gen Digital

In related news, Director John C. Chrystal acquired 3,000 shares of the stock in a transaction dated Thursday, June 4th. The stock was bought at an average cost of $27.06 per share, for a total transaction of $81,180.00. Following the completion of the transaction, the director directly owned 31,419 shares of the company's stock, valued at $850,198.14. The trade was a 10.56% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ondrej Vlcek sold 100,000 shares of the firm's 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 transaction, the director owned 3,832,724 shares of the company's stock, valued at $94,974,900.72. This trade represents a 2.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company 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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