Chicago Partners Investment Group LLC Acquires Shares of 8,375 Gen Digital Inc. (NASDAQ:GEN)

Key Points

• Chicago Partners Investment Group LLC acquired a new stake in Gen Digital Inc. during Q1, purchasing 8,375 shares valued at approximately $233,000.
• Gen Digital reported earnings of $0.64 EPS for the last quarter, beating analyst estimates, and the company's revenue increased by 30.3% compared to the previous year.
• The company declared a quarterly dividend of $0.125, resulting in an annualized yield of 1.6% for shareholders of record by August 18th.

Chicago Partners Investment Group LLC acquired a new position in Gen Digital Inc. (NASDAQ:GEN - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 8,375 shares of the company's stock, valued at approximately $233,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC grew its position in shares of Gen Digital by 117.6% during the first quarter. Catalyst Capital Advisors LLC now owns 1,580 shares of the company's stock worth $42,000 after acquiring an additional 854 shares during the last quarter. Tsfg LLC acquired a new position in Gen Digital during the 1st quarter valued at about $52,000. Mather Group LLC. grew its position in Gen Digital by 26.6% in the 1st quarter. Mather Group LLC. now owns 3,730 shares of the company's stock worth $99,000 after purchasing an additional 783 shares during the last quarter. Curat Global LLC acquired a new stake in shares of Gen Digital in the first quarter valued at approximately $154,000. Finally, Sagespring Wealth Partners LLC acquired a new stake in shares of Gen Digital in the first quarter valued at approximately $212,000. Institutional investors own 81.38% of the company's stock.

Gen Digital Stock Performance

NASDAQ:GEN traded down $0.04 during mid-day trading on Friday, hitting $31.47. 3,274,486 shares of the company's stock traded hands, compared to its average volume of 3,853,979. The firm has a 50 day moving average of $29.90 and a two-hundred day moving average of $27.97. Gen Digital Inc. has a 12 month low of $22.74 and a 12 month high of $32.22. The firm has a market capitalization of $19.38 billion, a price-to-earnings ratio of 32.44, a price-to-earnings-growth ratio of 1.06 and a beta of 1.00. The company has a current ratio of 0.50, a quick ratio of 0.51 and a debt-to-equity ratio of 3.63.

Gen Digital (NASDAQ:GEN - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.04. Gen Digital had a return on equity of 57.99% and a net margin of 14.12%. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the company earned $0.53 EPS. The firm's revenue for the quarter was up 30.3% compared to the same quarter last year. On average, equities analysts forecast that Gen Digital Inc. will post 2.05 earnings per share for the current fiscal year.

Gen Digital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 18th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.6%. The ex-dividend date is Monday, August 18th. Gen Digital's payout ratio is currently 51.55%.

Analysts Set New Price Targets

Several analysts have weighed in on GEN shares. Royal Bank Of Canada lifted their target price on Gen Digital from $32.00 to $33.00 and gave the company a "sector perform" rating in a research note on Friday, August 8th. Evercore ISI initiated coverage on Gen Digital in a report on Tuesday, July 1st. They set an "outperform" rating and a $35.00 price target on the stock. Wall Street Zen downgraded shares of Gen Digital from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 5th. Wells Fargo & Company raised their target price on shares of Gen Digital from $37.00 to $40.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Finally, Barclays boosted their price target on shares of Gen Digital from $32.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Friday, August 8th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Gen Digital presently has an average rating of "Moderate Buy" and a consensus price target 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.