Bank of New York Mellon Corp Has $133.44 Million Position in Gen Digital Inc. $GEN

Key Points

• Bank of New York Mellon boosted its Gen Digital stake by 6.0% in the fourth quarter, ending with 4.91 million shares valued at about $133.4 million.
• Gen Digital reported better-than-expected quarterly results, with EPS of $0.67 versus $0.65 expected and revenue of $1.28 billion, up 27% year over year.
• The company declared a quarterly dividend of $0.125 per share, and analysts currently have a consensus rating of Hold with a target price of $31.29.

Bank of New York Mellon Corp increased its stake in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 6.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,907,527 shares of the company's stock after purchasing an additional 278,010 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.80% of Gen Digital worth $133,436,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new position in Gen Digital during the 4th quarter worth approximately $27,000. Clearstead Advisors LLC grew its holdings in Gen Digital by 48.6% during the 3rd quarter. Clearstead Advisors LLC now owns 1,223 shares of the company's stock worth $35,000 after acquiring an additional 400 shares during the last quarter. TD Private Client Wealth LLC grew its holdings in Gen Digital by 65.8% during the 4th quarter. TD Private Client Wealth LLC now owns 1,539 shares of the company's stock worth $42,000 after acquiring an additional 611 shares during the last quarter. MUFG Securities EMEA plc bought a new stake in shares of Gen Digital in the 2nd quarter valued at $47,000. Finally, Geneos Wealth Management Inc. boosted its stake in shares of Gen Digital by 221.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company's stock valued at $46,000 after purchasing an additional 1,183 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Gen Digital Trading Down 0.9%

NASDAQ GEN opened at $26.28 on Friday. The company has a market cap of $15.83 billion, a price-to-earnings ratio of 16.63 and a beta of 1.21. Gen Digital Inc. has a 52 week low of $17.78 and a 52 week high of $32.22. The business has a 50 day moving average price of $21.52 and a 200-day moving average price of $23.65. 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 (NASDAQ:GEN - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.67 EPS 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 firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the company posted $0.59 earnings per share. The company's quarterly revenue was up 27.0% on a year-over-year basis. 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. As a group, equities analysts expect that Gen Digital Inc. will post 2.59 earnings per share for the current fiscal year.

Gen Digital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Monday, May 18th will be issued a dividend of $0.125 per share. The ex-dividend date is Monday, May 18th. This represents a $0.50 annualized dividend and a yield of 1.9%. Gen Digital's dividend payout ratio is presently 31.65%.

Insiders Place Their Bets

In other Gen Digital news, Director John C. Chrystal acquired 3,000 shares of the stock in a transaction on Thursday, June 4th. The shares were purchased at an average price of $27.06 per share, for a total transaction of $81,180.00. Following the completion of the acquisition, the director owned 31,419 shares in the company, valued at approximately $850,198.14. This represents a 10.56% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 9.30% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on GEN. Zacks Research raised shares of Gen Digital from a "strong sell" rating to a "hold" rating in a research note on Wednesday, February 18th. Barclays upped their price objective on shares of Gen Digital from $26.00 to $27.00 and gave the company an "equal weight" rating in a research note on Friday, May 8th. Argus raised shares of Gen Digital to a "strong-buy" rating in a research note on Friday, May 22nd. Wells Fargo & Company began coverage on shares of Gen Digital in a research note on Tuesday, March 3rd. They issued an "equal weight" rating and a $22.00 price objective on the stock. Finally, Jefferies Financial Group lowered shares of Gen Digital from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $31.29.

Gen Digital Company 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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