Citigroup Inc. boosted its stake in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 27.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 690,356 shares of the company's stock after purchasing an additional 149,781 shares during the quarter. Citigroup Inc. owned approximately 0.11% of Gen Digital worth $18,322,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Gen Digital by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 69,690,768 shares of the company's stock valued at $1,849,593,000 after acquiring an additional 2,513,464 shares during the last quarter. Penserra Capital Management LLC grew its stake in Gen Digital by 33.0% during the 1st quarter. Penserra Capital Management LLC now owns 2,972,160 shares of the company's stock worth $78,880,000 after buying an additional 736,809 shares during the last quarter. KBC Group NV grew its stake in Gen Digital by 32.7% during the 1st quarter. KBC Group NV now owns 2,769,361 shares of the company's stock worth $73,499,000 after buying an additional 682,530 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Gen Digital during the 4th quarter worth approximately $14,367,000. Finally, Victory Capital Management Inc. grew its stake in Gen Digital by 81.1% during the 1st quarter. Victory Capital Management Inc. now owns 1,006,843 shares of the company's stock worth $26,722,000 after buying an additional 450,955 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company's stock.
Analysts Set New Price Targets
GEN has been the topic of a number of research reports. B. Riley initiated coverage on Gen Digital in a research note on Monday, July 14th. They set a "buy" rating and a $46.00 price target on the stock. Wells Fargo & Company lifted their target price on Gen Digital from $37.00 to $40.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Barclays raised their price target on Gen Digital from $32.00 to $33.00 and gave the company an "equal weight" rating in a report on Friday, August 8th. Royal Bank Of Canada boosted their price target on Gen Digital from $32.00 to $33.00 and gave the stock a "sector perform" rating in a report on Friday, August 8th. Finally, Wall Street Zen lowered Gen Digital from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Gen Digital currently has a consensus rating of "Moderate Buy" and an average target price of $35.33.
Read Our Latest Report on GEN
Gen Digital Stock Performance
Shares of Gen Digital stock traded down $0.04 on Friday, reaching $31.47. 3,274,486 shares of the company were exchanged, compared to its average volume of 3,853,979. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.51 and a current ratio of 0.50. The company's 50-day moving average is $29.90 and its two-hundred day moving average is $27.97. The firm has a market cap of $19.38 billion, a price-to-earnings ratio of 32.44, a P/E/G ratio of 1.05 and a beta of 1.00. Gen Digital Inc. has a 1-year low of $22.74 and a 1-year high of $32.22.
Gen Digital (NASDAQ:GEN - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.60 by $0.04. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.19 billion. Gen Digital had a return on equity of 57.99% and a net margin of 14.12%. The firm's quarterly revenue was up 30.3% on a year-over-year basis. During the same period last year, the company posted $0.53 EPS. As a group, research analysts expect that Gen Digital Inc. will post 2.05 earnings per share for the current fiscal year.
Gen Digital Announces Dividend
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 issued a $0.125 dividend. The ex-dividend date is Monday, August 18th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.6%. Gen Digital's dividend payout ratio is presently 51.55%.
Gen Digital Company Profile
(
Free Report)
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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