Assenagon Asset Management S.A. Sells 78,018 Shares of Gen Digital Inc. $GEN

Key Points

• Assenagon Asset Management S.A. reduced its holdings in Gen Digital Inc. by 41.2%, selling 78,018 shares and leaving it with 111,516 shares valued at approximately $3.28 million.
• Gen Digital posted a quarterly earnings report showing an EPS of $0.64, exceeding analysts' expectations of $0.60, and achieved revenues of $1.26 billion, surpassing the forecast of $1.19 billion.
• The company recently declared a quarterly dividend of $0.125 per share, resulting in an annualized dividend yield of 1.7%.

Assenagon Asset Management S.A. decreased its position in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 41.2% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 111,516 shares of the company's stock after selling 78,018 shares during the period. Assenagon Asset Management S.A.'s holdings in Gen Digital were worth $3,279,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Catalyst Capital Advisors LLC grew 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 valued at $42,000 after purchasing an additional 854 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Gen Digital by 221.5% during the first quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company's stock valued at $46,000 after buying an additional 1,183 shares during the period. Tsfg LLC bought a new position in shares of Gen Digital during the first quarter valued at approximately $52,000. Rise Advisors LLC raised its holdings in shares of Gen Digital by 19.2% in the first quarter. Rise Advisors LLC now owns 2,361 shares of the company's stock worth $63,000 after buying an additional 381 shares during the period. Finally, Capital Analysts LLC purchased a new stake in shares of Gen Digital in the first quarter worth approximately $85,000. Hedge funds and other institutional investors own 81.38% of the company's stock.

Gen Digital Stock Performance

Shares of NASDAQ:GEN opened at $29.09 on Thursday. The firm has a 50 day moving average of $30.03 and a 200 day moving average of $28.42. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 3.63. The company has a market capitalization of $17.92 billion, a price-to-earnings ratio of 29.99, a price-to-earnings-growth ratio of 0.98 and a beta of 0.99. Gen Digital Inc. has a 52 week low of $22.74 and a 52 week high of $32.22.

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

Gen Digital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Monday, August 18th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, August 18th. Gen Digital's dividend payout ratio is presently 51.55%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GEN. Wall Street Zen cut Gen Digital from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 5th. Royal Bank Of Canada upped their price target on shares of Gen Digital from $32.00 to $33.00 and gave the stock a "sector perform" rating in a report on Friday, August 8th. B. Riley started coverage on shares of Gen Digital in a report on Monday, July 14th. They set a "buy" rating and a $46.00 price objective for the company. Morgan Stanley upped their target price on shares of Gen Digital from $25.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Tuesday, September 2nd. Finally, Evercore ISI initiated coverage on shares of Gen Digital in a research note on Tuesday, July 1st. They set an "outperform" rating and a $35.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $36.50.

Gen Digital Company 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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