Comerica Bank Decreases Stock Holdings in Gen Digital Inc. $GEN

Key Points

• Comerica Bank reduced its stake in Gen Digital Inc. by 9.3% during the first quarter, holding 103,796 shares valued at approximately $2.76 million.
• Gen Digital reported earnings of $0.64 per share for the last quarter, surpassing expectations, with revenue of $1.26 billion, marking a 30.3% increase from the previous year.
• The company announced a quarterly dividend of $0.125, amounting to an annualized dividend yield of 1.7%, to be paid on September 10th to shareholders of record as of August 18th.

Comerica Bank cut its stake in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 9.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,796 shares of the company's stock after selling 10,686 shares during the quarter. Comerica Bank's holdings in Gen Digital were worth $2,755,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Catalyst Capital Advisors LLC boosted its holdings in Gen Digital by 117.6% in the first quarter. Catalyst Capital Advisors LLC now owns 1,580 shares of the company's stock valued at $42,000 after purchasing an additional 854 shares during the last quarter. Tsfg LLC purchased a new stake in Gen Digital in the first quarter valued at $52,000. Capital Analysts LLC purchased a new stake in Gen Digital in the first quarter valued at $85,000. Mather Group LLC. boosted its holdings in Gen Digital by 26.6% in the first quarter. Mather Group LLC. now owns 3,730 shares of the company's stock valued at $99,000 after purchasing an additional 783 shares during the last quarter. Finally, Curat Global LLC purchased a new stake in Gen Digital in the first quarter valued at $154,000. 81.38% of the stock is owned by hedge funds and other institutional investors.

Gen Digital Price Performance

Shares of GEN traded down $0.70 during mid-day trading on Tuesday, hitting $29.50. 4,106,149 shares of the company were exchanged, compared to its average volume of 4,237,309. Gen Digital Inc. has a 1-year low of $22.74 and a 1-year high of $32.22. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.50 and a current ratio of 0.50. The company has a 50 day moving average of $30.21 and a 200-day moving average of $28.24. The stock has a market cap of $18.17 billion, a price-to-earnings ratio of 30.41, a price-to-earnings-growth ratio of 1.01 and a beta of 0.99.

Gen Digital (NASDAQ:GEN - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.04. Gen Digital had a net margin of 14.12% and a return on equity of 57.99%. The company 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 firm earned $0.53 EPS. Gen Digital's quarterly revenue was up 30.3% on a year-over-year basis. Gen Digital has set its Q2 2026 guidance at 0.600-0.620 EPS. FY 2026 guidance at 2.490-2.560 EPS. Analysts expect that Gen Digital Inc. will post 2.05 EPS for the current fiscal year.

Gen Digital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 18th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.7%. Gen Digital's dividend payout ratio (DPR) is presently 51.55%.

Wall Street Analyst Weigh In

GEN has been the topic of several recent research reports. B. Riley initiated coverage on shares of Gen Digital in a report on Monday, July 14th. They issued a "buy" rating and a $46.00 price target on the stock. Barclays upped their price objective 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. Wells Fargo & Company upped their price objective on shares of Gen Digital from $37.00 to $40.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Morgan Stanley upped their price objective on shares of Gen Digital from $25.00 to $32.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Finally, Wall Street Zen downgraded shares of Gen Digital from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 5th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold 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 $36.50.

About Gen Digital

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.