Asset Management One Co. Ltd. Grows Position in Gen Digital Inc. (NASDAQ:GEN)

Asset Management One Co. Ltd. boosted its position in Gen Digital Inc. (NASDAQ:GEN - Free Report) by 5.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 495,888 shares of the company's stock after buying an additional 27,129 shares during the period. Asset Management One Co. Ltd. owned approximately 0.08% of Gen Digital worth $13,161,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rhumbline Advisers increased its holdings in Gen Digital by 6.6% during the 1st quarter. Rhumbline Advisers now owns 1,116,301 shares of the company's stock worth $29,627,000 after purchasing an additional 69,558 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Gen Digital during the 4th quarter worth approximately $14,367,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its holdings in Gen Digital by 14.1% during the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 512,530 shares of the company's stock worth $13,603,000 after purchasing an additional 63,165 shares in the last quarter. GAMMA Investing LLC increased its holdings in Gen Digital by 2,954.9% during the 1st quarter. GAMMA Investing LLC now owns 322,169 shares of the company's stock worth $8,550,000 after purchasing an additional 311,623 shares in the last quarter. Finally, QSM Asset Management Ltd bought a new stake in Gen Digital during the 4th quarter worth approximately $5,373,000. 81.38% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Gen Digital 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 value of $910,138.96. Following the sale, the director now owns 34,860 shares of the company's stock, valued at $1,002,573.60. This trade represents a 47.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 12.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on GEN shares. Royal Bank Of Canada boosted their target price on Gen Digital from $28.00 to $30.00 and gave the stock a "sector perform" rating in a research note on Wednesday, May 7th. Morgan Stanley cut their price objective on Gen Digital from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th.

Gen Digital Stock Performance

Shares of GEN stock traded down $0.17 on Friday, hitting $29.28. 8,484,227 shares of the stock were exchanged, compared to its average volume of 3,768,306. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 3.51. The firm has a market capitalization of $18.16 billion, a PE ratio of 28.15, a P/E/G ratio of 1.09 and a beta of 1.01. Gen Digital Inc. has a one year low of $22.74 and a one year high of $31.72. The firm's 50 day moving average is $27.88 and its two-hundred day moving average is $27.42.

Gen Digital (NASDAQ:GEN - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.01. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $999.48 million. Gen Digital had a return on equity of 59.38% and a net margin of 16.34%. The firm's quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.53 EPS. Sell-side analysts expect that Gen Digital Inc. will post 2.05 earnings per share for the current fiscal year.

Gen Digital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Monday, May 19th were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.50 dividend on an annualized basis and a yield of 1.71%. Gen Digital's dividend payout ratio (DPR) is 48.08%.

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.