Cerity Partners LLC Acquires 14,707 Shares of Gen Digital Inc. (NASDAQ:GEN)

Cerity Partners LLC increased its stake in Gen Digital Inc. (NASDAQ:GEN - Free Report) by 23.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 78,471 shares of the company's stock after purchasing an additional 14,707 shares during the period. Cerity Partners LLC's holdings in Gen Digital were worth $2,083,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Gen Digital in the 4th quarter worth approximately $14,367,000. QSM Asset Management Ltd purchased a new position in Gen Digital in the 4th quarter worth approximately $5,373,000. Brighton Jones LLC grew its stake in Gen Digital by 5.4% in the 4th quarter. Brighton Jones LLC now owns 25,212 shares of the company's stock worth $690,000 after buying an additional 1,299 shares in the last quarter. Wellington Management Group LLP grew its stake in Gen Digital by 98.8% in the 4th 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 in the last quarter. Finally, Kera Capital Partners Inc. grew its stake in Gen Digital by 41.7% in the 1st 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 in the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on GEN shares. Royal Bank Of Canada boosted their price target on shares of Gen Digital from $28.00 to $30.00 and gave the stock a "sector perform" rating in a research note on Wednesday, May 7th. Wall Street Zen cut Gen Digital from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 5th. Morgan Stanley decreased their price objective on Gen Digital from $27.00 to $25.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. B. Riley began coverage on Gen Digital in a report on Monday, July 14th. They set a "buy" rating and a $46.00 price objective on the stock. Finally, Evercore ISI began coverage on Gen Digital in a report on Tuesday, July 1st. They set an "outperform" rating and a $35.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Gen Digital presently has a consensus rating of "Moderate Buy" and an average price target of $33.60.

Insider Buying and Selling at Gen Digital

In other news, Director Nora Denzel sold 31,646 shares of Gen Digital stock in a transaction that occurred on 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 directly owned 34,860 shares in the company, valued at approximately $1,002,573.60. This trade represents a 47.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 12.20% of the company's stock.

Gen Digital Price Performance

GEN opened at $30.27 on Monday. The stock's 50 day simple moving average is $29.19 and its 200 day simple moving average is $27.57. The company has a debt-to-equity ratio of 3.51, a current ratio of 0.51 and a quick ratio of 0.51. Gen Digital Inc. has a 1 year low of $22.74 and a 1 year high of $31.72. The firm has a market cap of $18.77 billion, a price-to-earnings ratio of 29.11, a PEG ratio of 1.10 and a beta of 1.01.

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 (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.01. Gen Digital had a return on equity of 59.38% and a net margin of 16.34%. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $999.48 million. During the same period last year, the company earned $0.53 EPS. Gen Digital's revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, analysts predict that Gen Digital Inc. will post 2.05 earnings per share for the current year.

Gen Digital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Monday, May 19th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.50 annualized dividend and a yield of 1.65%. Gen Digital's payout ratio is 48.08%.

Gen Digital 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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