CIBC Asset Management Inc Increases Stock Holdings in Gen Digital Inc. $GEN

Key Points

• CIBC Asset Management boosted its Gen Digital stake by 69.8% in Q4, ending with 134,000 shares valued at about $3.64 million.
• Another insider move came from Director John C. Chrystal, who bought 3,000 shares at $27.06 each, raising his ownership by 10.56%.
• Analysts remain mixed on Gen Digital: the stock has a Hold consensus rating with an average price target of $31.29, while the company recently beat quarterly EPS and revenue estimates and continues paying a 1.9% dividend yield.

CIBC Asset Management Inc increased its holdings in Gen Digital Inc. (NASDAQ:GEN - Free Report) by 69.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 134,000 shares of the company's stock after acquiring an additional 55,097 shares during the quarter. CIBC Asset Management Inc's holdings in Gen Digital were worth $3,643,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in Gen Digital in the fourth quarter worth $27,000. Clearstead Advisors LLC lifted its stake in Gen Digital by 48.6% in the third 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 period. TD Private Client Wealth LLC lifted its stake in Gen Digital by 65.8% in the fourth 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 period. Geneos Wealth Management Inc. lifted its stake in Gen Digital by 221.5% in the first quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company's stock worth $46,000 after acquiring an additional 1,183 shares during the period. Finally, MUFG Securities EMEA plc purchased a new stake in Gen Digital in the second quarter worth $47,000. Hedge funds and other institutional investors own 81.38% of the company's stock.

Insider Buying and Selling

In other Gen Digital news, Director John C. Chrystal acquired 3,000 shares of Gen Digital stock in a transaction that occurred on Thursday, June 4th. The stock was bought at an average cost of $27.06 per share, for a total transaction of $81,180.00. Following the acquisition, the director owned 31,419 shares of the company's stock, valued at $850,198.14. This represents a 10.56% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 9.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Royal Bank Of Canada raised their price target on Gen Digital from $22.00 to $24.00 and gave the stock a "sector perform" rating in a research note on Friday, May 8th. Argus raised Gen Digital to a "strong-buy" rating in a research report on Friday, May 22nd. Jefferies Financial Group lowered Gen Digital from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. Barclays raised their price objective on Gen Digital from $26.00 to $27.00 and gave the company an "equal weight" rating in a research report on Friday, May 8th. Finally, Zacks Research raised Gen Digital from a "strong sell" rating to a "hold" rating in a research report on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, Gen Digital presently has a consensus rating of "Hold" and an average price target of $31.29.

Gen Digital Price Performance

Shares of Gen Digital stock opened at $26.28 on Monday. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a market capitalization of $15.83 billion, a PE ratio of 16.63 and a beta of 1.20. Gen Digital Inc. has a 52-week low of $17.78 and a 52-week high of $32.22. The company has a 50-day simple moving average of $21.52 and a two-hundred day simple moving average of $23.64.

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, topping 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 company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the company earned $0.59 EPS. Gen Digital's revenue for the quarter 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. On average, analysts anticipate that Gen Digital Inc. will post 2.59 EPS 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. Investors of record on Monday, May 18th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.9%. The ex-dividend date is Monday, May 18th. Gen Digital's dividend payout ratio (DPR) is presently 31.65%.

About Gen Digital

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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