Assenagon Asset Management S.A. Sells 505,131 Shares of Gen Digital Inc. (NASDAQ:GEN)

Assenagon Asset Management S.A. lowered its holdings in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 72.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 189,534 shares of the company's stock after selling 505,131 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Gen Digital were worth $5,030,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Curat Global LLC purchased a new position in Gen Digital during the 1st quarter valued at $154,000. Merit Financial Group LLC purchased a new position in Gen Digital during the 1st quarter valued at $273,000. Kera Capital Partners Inc. boosted its holdings in Gen Digital by 41.7% during the 1st quarter. Kera Capital Partners Inc. now owns 11,777 shares of the company's stock valued at $313,000 after acquiring an additional 3,466 shares during the period. GAMMA Investing LLC boosted its holdings in Gen Digital by 15.1% during the 1st quarter. GAMMA Investing LLC now owns 12,139 shares of the company's stock valued at $322,000 after acquiring an additional 1,593 shares during the period. Finally, Vest Financial LLC boosted its holdings in Gen Digital by 61.9% during the 1st quarter. Vest Financial LLC now owns 13,689 shares of the company's stock valued at $363,000 after acquiring an additional 5,232 shares during the period. Hedge funds and other institutional investors own 81.38% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on GEN. Royal Bank of Canada upped their target price on Gen Digital from $28.00 to $30.00 and gave the stock a "sector perform" rating in a report on Wednesday, May 7th. Morgan Stanley lowered their target price on Gen Digital from $27.00 to $25.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th.

Insider Activity at Gen Digital

In related news, Director Nora Denzel sold 31,646 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $28.76, for a total transaction of $910,138.96. Following the sale, the director now directly owns 34,860 shares of the company's stock, valued at $1,002,573.60. This trade represents a 47.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.20% of the stock is currently owned by corporate insiders.

Gen Digital Trading Down 1.6%

Shares of NASDAQ GEN opened at $29.78 on Friday. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.35 and a quick ratio of 0.35. The stock has a market capitalization of $18.47 billion, a P/E ratio of 29.20, a price-to-earnings-growth ratio of 1.19 and a beta of 1.01. Gen Digital Inc. has a 1-year low of $22.74 and a 1-year high of $31.72. The business has a fifty day moving average price of $27.02 and a 200 day moving average price of $27.49.

Gen Digital (NASDAQ:GEN - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.59 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.01. The firm had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $999.48 million. Gen Digital had a return on equity of 58.83% and a net margin of 16.32%. The firm's quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 EPS. Equities research analysts expect that Gen Digital Inc. will post 2.05 EPS for the current fiscal year.

Gen Digital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Monday, May 19th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.68%. The ex-dividend date was Monday, May 19th. Gen Digital's dividend payout ratio is currently 48.08%.

Gen Digital 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.

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