Assenagon Asset Management S.A. Purchases Shares of 1,041,384 Gen Digital Inc. $GEN

Key Points

• Assenagon Asset Management acquired 1.04 million Gen Digital shares in the second quarter, worth approximately $25.9 million and representing about 0.17% of the company. Institutional investors collectively own 81.38% of GEN.
• Gen Digital exceeded quarterly expectations, reporting adjusted EPS of $0.71 and revenue of $1.34 billion, up 6.3% year over year. Management raised fiscal 2027 EPS guidance to $2.87–$2.97, citing strong cybersecurity demand and bookings growth.
• Analyst sentiment remains mixed, with an average “Hold” rating and consensus price target of $31.67. The company also declared a quarterly dividend of $0.125 per share, equivalent to a 1.7% yield.

Assenagon Asset Management S.A. acquired a new stake in Gen Digital Inc. (NASDAQ:GEN - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,041,384 shares of the company's stock, valued at approximately $25,920,000. Assenagon Asset Management S.A. owned approximately 0.17% of Gen Digital as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. GAMMA Investing LLC grew its holdings in Gen Digital by 74.9% in the second quarter. GAMMA Investing LLC now owns 34,867 shares of the company's stock worth $868,000 after purchasing an additional 14,937 shares during the period. Grove Bank & Trust raised its position in shares of Gen Digital by 452.2% during the second quarter. Grove Bank & Trust now owns 1,132 shares of the company's stock worth $28,000 after purchasing an additional 927 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in shares of Gen Digital by 86.9% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,921 shares of the company's stock worth $48,000 after purchasing an additional 893 shares during the period. CX Institutional lifted its holdings in shares of Gen Digital by 33.0% in the 2nd quarter. CX Institutional now owns 22,905 shares of the company's stock worth $570,000 after purchasing an additional 5,687 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Gen Digital by 7.4% in the 1st quarter. Bank of America Corp DE now owns 2,559,425 shares of the company's stock worth $48,194,000 after purchasing an additional 175,835 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company's stock.

Wall Street Analysts Forecast Growth

GEN has been the subject of several research reports. Weiss Ratings raised shares of Gen Digital from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, July 15th. Argus upgraded Gen Digital to a "strong-buy" rating in a report on Friday, May 22nd. Wells Fargo & Company lifted their target price on Gen Digital from $22.00 to $28.00 and gave the company an "equal weight" rating in a research report on Friday. Royal Bank Of Canada upped their price target on Gen Digital from $27.00 to $30.00 and gave the stock a "sector perform" rating in a report on Friday. Finally, Wall Street Zen raised shares of Gen Digital from a "hold" rating to a "buy" rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $31.67.

Gen Digital Stock Performance

NASDAQ:GEN opened at $29.17 on Monday. The company has a debt-to-equity ratio of 3.00, a quick ratio of 0.40 and a current ratio of 0.47. Gen Digital Inc. has a 52-week low of $17.78 and a 52-week high of $32.22. The firm has a market cap of $17.46 billion, a price-to-earnings ratio of 16.96 and a beta of 1.21. The business's fifty day moving average is $25.96 and its 200 day moving average is $23.31.

Gen Digital (NASDAQ:GEN - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.71 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter last year, the company earned $0.64 EPS. The firm's 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. Research analysts predict that Gen Digital Inc. will post 2.61 EPS for the current year.

Gen Digital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 17th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Monday, August 17th. Gen Digital's payout ratio is 29.07%.

Insider Activity

In other Gen Digital news, 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 sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John C. Chrystal purchased 3,000 shares of the company's stock in a transaction dated Thursday, June 4th. The shares were acquired at an average price of $27.06 per share, with a total value of $81,180.00. Following the transaction, the director owned 31,419 shares in the company, valued at approximately $850,198.14. The trade was a 10.56% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 9.70% of the company's stock.

Key Stories Impacting Gen Digital

Here are the key news stories impacting Gen Digital this week:

• Positive Sentiment: Quarterly results exceeded expectations. Gen Digital reported fiscal Q1 2027 adjusted EPS of $0.71, versus the $0.69 consensus estimate, while revenue increased 6.3% year over year to $1.34 billion, topping expectations of $1.31 billion. EPS also improved from $0.64 a year earlier. Gen Digital quarterly earnings report
• Positive Sentiment: Management raised fiscal 2027 targets. Gen Digital now expects full-year EPS of $2.87 to $2.97 and revenue of $5.4 billion to $5.5 billion, above analyst consensus of $2.83 EPS and approximately $5.4 billion in revenue. Second-quarter EPS guidance of $0.71 to $0.73 also exceeds the $0.70 consensus estimate. Reuters report on Gen Digital's raised forecast
• Positive Sentiment: Cybersecurity demand remains supportive. The company cited strong demand for its family of digital-security products, double-digit bookings growth and increasing online threats powered by artificial intelligence. These trends support recurring revenue and Gen Digital’s growth outlook. Gen Digital fiscal Q1 2027 results release
• Positive Sentiment: Barclays raised its price target from $27 to $32 while maintaining an Equal Weight rating, suggesting additional potential upside based on the firm’s updated valuation. Benzinga analyst update
• Neutral Sentiment: Gen Digital declared a quarterly dividend of $0.125 per share. Investors of record on August 17 will receive payment on September 9. The dividend provides ongoing shareholder income, although the 1.7% yield is unlikely to be the primary catalyst for the stock.
• Negative Sentiment: Wells Fargo raised its price target from $22 to $28 but retained an Equal Weight rating. The new target remains below the stock’s current trading level, signaling valuation caution despite the improved earnings outlook. Benzinga analyst update

About Gen Digital

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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