Bank of New York Mellon Corp Has $137.60 Million Stock Holdings in Gen Digital Inc. (NASDAQ:GEN)

Bank of New York Mellon Corp boosted its holdings in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,184,489 shares of the company's stock after buying an additional 117,013 shares during the period. Bank of New York Mellon Corp owned approximately 0.84% of Gen Digital worth $137,596,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Gen Digital in the fourth quarter valued at about $14,367,000. QSM Asset Management Ltd purchased a new stake in Gen Digital during the fourth quarter worth about $5,373,000. Brighton Jones LLC increased its holdings in Gen Digital by 5.4% during the fourth quarter. Brighton Jones LLC now owns 25,212 shares of the company's stock worth $690,000 after buying an additional 1,299 shares during the last quarter. Wellington Management Group LLP increased its holdings in Gen Digital by 98.8% during the fourth quarter. Wellington Management Group LLP now owns 114,699 shares of the company's stock worth $3,140,000 after buying an additional 56,993 shares during the last quarter. Finally, Kera Capital Partners Inc. increased its holdings in Gen Digital by 41.7% during the first quarter. Kera Capital Partners Inc. now owns 11,777 shares of the company's stock worth $313,000 after buying an additional 3,466 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company's stock.

Analysts Set New Price Targets

GEN has been the subject of a number of research analyst reports. Royal Bank Of Canada raised their price objective on shares of 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 decreased their price objective on shares of Gen Digital from $27.00 to $25.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Wall Street Zen downgraded shares of Gen Digital from a "strong-buy" rating to a "buy" rating in a report on Saturday. Finally, Evercore ISI started coverage on shares of Gen Digital in a research note on Tuesday, July 1st. They issued an "outperform" rating and a $35.00 target price for the company. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $30.00.

Gen Digital Trading Down 0.5%

NASDAQ:GEN opened at $29.94 on Wednesday. The company has a fifty day moving average of $28.70 and a 200 day moving average of $27.45. Gen Digital Inc. has a 52 week low of $22.74 and a 52 week high of $31.72. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 3.51. The firm has a market capitalization of $18.57 billion, a P/E ratio of 28.79, a P/E/G ratio of 1.12 and a beta of 1.01.

Gen Digital (NASDAQ:GEN - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 16.34% and a return on equity of 59.38%. Gen Digital's revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.53 earnings per share. On average, research analysts predict that Gen Digital Inc. will post 2.05 earnings per share for the current year.

Gen Digital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Monday, May 19th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date was Monday, May 19th. Gen Digital's payout ratio is 48.08%.

Insider Activity

In related news, Director Nora Denzel sold 31,646 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $28.76, for a total value of $910,138.96. Following the transaction, the director owned 34,860 shares of the company's stock, valued at approximately $1,002,573.60. This trade represents a 47.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 12.20% of the company's stock.

About Gen Digital

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.

Want to see what other hedge funds are holding GEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gen Digital Inc. (NASDAQ:GEN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.