Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 75.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 578,752 shares of the company's stock after acquiring an additional 248,018 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.09% of Gen Digital worth $15,360,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its position in Gen Digital by 132.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 599,821 shares of the company's stock worth $16,039,000 after acquiring an additional 341,533 shares in the last quarter. Mather Group LLC. boosted its holdings in Gen Digital by 26.6% in the 1st 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 period. Cornerstone Wealth Group LLC bought a new stake in Gen Digital in the 1st quarter valued at $377,000. Wellington Management Group LLP boosted its holdings in Gen Digital by 98.8% in the 4th quarter. Wellington Management Group LLP now owns 114,699 shares of the company's stock valued at $3,140,000 after purchasing an additional 56,993 shares during the period. Finally, Exchange Traded Concepts LLC raised its stake in shares of Gen Digital by 52.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 11,146 shares of the company's stock valued at $296,000 after buying an additional 3,830 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company's stock.
Gen Digital Trading Down 0.2%
NASDAQ:GEN traded down $0.06 on Friday, reaching $31.45. 787,634 shares of the stock traded hands, compared to its average volume of 4,143,434. Gen Digital Inc. has a 1-year low of $22.74 and a 1-year high of $32.22. The company's 50 day moving average is $29.85 and its 200-day moving average is $27.94. The company has a current ratio of 0.50, a quick ratio of 0.51 and a debt-to-equity ratio of 3.63. The firm has a market capitalization of $19.36 billion, a price-to-earnings ratio of 32.42, a price-to-earnings-growth ratio of 1.08 and a beta of 1.00.
Gen Digital (NASDAQ:GEN - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.64 earnings per share for the quarter, topping 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 company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the firm posted $0.53 EPS. The firm's revenue for the quarter was up 30.3% on a year-over-year basis. Equities research analysts anticipate that Gen Digital Inc. will post 2.05 EPS for the current fiscal year.
Gen Digital Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Monday, August 18th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $0.50 annualized dividend and a dividend yield of 1.6%. Gen Digital's payout ratio is presently 51.55%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on GEN. B. Riley started coverage on shares of Gen Digital in a research note on Monday, July 14th. They issued a "buy" rating and a $46.00 price objective for the company. Wall Street Zen lowered shares of Gen Digital from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 5th. Barclays raised their target price on shares of Gen Digital from $32.00 to $33.00 and gave the company an "equal weight" rating in a research note on Friday, August 8th. Evercore ISI assumed coverage on shares of Gen Digital in a research note on Tuesday, July 1st. They issued an "outperform" rating and a $35.00 target price on the stock. Finally, Wells Fargo & Company lifted their price objective on shares of Gen Digital from $37.00 to $40.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $35.33.
Read Our Latest Report on Gen Digital
Gen Digital 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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