Boston Partners Grows Holdings in Gen Digital Inc. (NASDAQ:GEN)

Key Points

• Boston Partners increased its stake in Gen Digital Inc. by 37.3%, acquiring over 3.6 million shares, bringing their total holding to approximately $354 million.
• Gen Digital reported an EPS of $0.64 for the last quarter, exceeding analysts’ expectations, with revenues reaching $1.26 billion, a year-over-year increase of 30.3%.
• The company declared a quarterly dividend of $0.125 per share, indicating an annualized rate of $0.50 which reflects a dividend yield of 1.6%.

Boston Partners grew its holdings in Gen Digital Inc. (NASDAQ:GEN - Free Report) by 37.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,358,167 shares of the company's stock after acquiring an additional 3,631,052 shares during the period. Boston Partners owned about 2.17% of Gen Digital worth $354,456,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of GEN. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Gen Digital in the fourth quarter valued at $14,367,000. QSM Asset Management Ltd acquired a new position in Gen Digital in the fourth quarter valued at $5,373,000. Brighton Jones LLC boosted its stake in Gen Digital by 5.4% in the fourth quarter. Brighton Jones LLC now owns 25,212 shares of the company's stock valued at $690,000 after acquiring an additional 1,299 shares in the last quarter. Wellington Management Group LLP boosted its stake in Gen Digital by 98.8% in the fourth quarter. Wellington Management Group LLP now owns 114,699 shares of the company's stock valued at $3,140,000 after acquiring an additional 56,993 shares in the last quarter. Finally, Kera Capital Partners Inc. boosted its stake in Gen Digital by 41.7% in the first 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 in the last quarter. Institutional investors and hedge funds own 81.38% of the company's stock.

Gen Digital Price Performance

Shares of GEN traded down $0.04 during mid-day trading on Friday, reaching $31.47. 3,274,486 shares of the company's stock were exchanged, compared to its average volume of 3,853,979. The company has a quick ratio of 0.51, a current ratio of 0.50 and a debt-to-equity ratio of 3.63. The company has a 50-day simple moving average of $29.90 and a two-hundred day simple moving average of $27.97. Gen Digital Inc. has a 52-week low of $22.74 and a 52-week high of $32.22. The company has a market cap of $19.38 billion, a price-to-earnings ratio of 32.44, a PEG ratio of 1.05 and a beta of 1.00.

Gen Digital (NASDAQ:GEN - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.04. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.19 billion. Gen Digital had a net margin of 14.12% and a return on equity of 57.99%. Gen Digital's revenue was up 30.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.53 earnings per share. On average, sell-side analysts predict 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 will be paid on Wednesday, September 10th. Stockholders of record on Monday, August 18th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, August 18th. Gen Digital's dividend payout ratio (DPR) is currently 51.55%.

Analyst Ratings Changes

GEN has been the subject of several recent research reports. Barclays increased their target price on shares of Gen Digital from $32.00 to $33.00 and gave the stock an "equal weight" rating in a research note on Friday, August 8th. Royal Bank Of Canada increased their target price on shares of Gen Digital from $32.00 to $33.00 and gave the stock a "sector perform" rating in a research note on Friday, August 8th. Wall Street Zen cut shares of Gen Digital from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 5th. Evercore ISI assumed coverage on shares of Gen Digital in a report on Tuesday, July 1st. They set an "outperform" rating and a $35.00 price target for the company. Finally, Wells Fargo & Company increased their price target on shares of Gen Digital from $37.00 to $40.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $35.33.

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.