Connor Clark & Lunn Investment Management Ltd. Boosts Holdings in Gen Digital Inc. $GEN

Key Points

• Connor Clark & Lunn boosted its stake in Gen Digital by 14.6% in Q3 to 1,660,037 shares, worth about $47.13 million.
• Institutional ownership stands at 81.38%, with other large funds (Amundi, Arrowstreet, Vanguard, Ameriprise, First Trust) also materially increasing their positions.
• Gen Digital recently beat quarterly EPS estimates ($0.64) with revenue up 25.8% year‑over‑year, pays a $0.125 quarterly dividend (annualized yield 2.4%), and carries a consensus analyst rating of Hold with an average target of $32.71.

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 14.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,660,037 shares of the company's stock after purchasing an additional 211,863 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.27% of Gen Digital worth $47,128,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Amundi lifted its stake in Gen Digital by 273.3% in the 2nd quarter. Amundi now owns 4,303,552 shares of the company's stock valued at $128,289,000 after buying an additional 3,150,651 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Gen Digital by 82.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 4,497,501 shares of the company's stock worth $132,227,000 after buying an additional 2,035,925 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Gen Digital by 2.2% during the second quarter. Vanguard Group Inc. now owns 71,249,751 shares of the company's stock valued at $2,094,743,000 after acquiring an additional 1,558,983 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Gen Digital by 6.7% during the second quarter. Ameriprise Financial Inc. now owns 22,473,917 shares of the company's stock valued at $660,730,000 after acquiring an additional 1,406,869 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Gen Digital by 7.4% in the second quarter. First Trust Advisors LP now owns 15,899,158 shares of the company's stock valued at $467,436,000 after acquiring an additional 1,088,983 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company's stock.

Gen Digital Stock Performance

NASDAQ:GEN opened at $21.00 on Friday. The company has a debt-to-equity ratio of 3.50, a current ratio of 0.47 and a quick ratio of 0.47. The firm has a market capitalization of $12.72 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 0.71 and a beta of 1.11. The company's 50-day moving average is $24.05 and its two-hundred day moving average is $26.39. Gen Digital Inc. has a 1-year low of $20.93 and a 1-year high of $32.22.

Gen Digital (NASDAQ:GEN - Get Free Report) last announced its quarterly earnings results on Thursday, February 5th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.01. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.23 billion. Gen Digital had a net margin of 12.76% and a return on equity of 56.76%. The business's revenue was up 25.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.56 EPS. Gen Digital has set its Q4 2026 guidance at 0.640-0.660 EPS and its FY 2026 guidance at 2.540-2.560 EPS. Analysts forecast that Gen Digital Inc. will post 2.05 EPS for the current year.

Gen Digital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 11th. Shareholders of record on Monday, February 16th were given a $0.125 dividend. The ex-dividend date was Friday, February 13th. This represents a $0.50 dividend on an annualized basis and a yield of 2.4%. Gen Digital's payout ratio is currently 51.55%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on GEN shares. Zacks Research raised Gen Digital from a "strong sell" rating to a "hold" rating in a research note on Wednesday, February 18th. Wells Fargo & Company initiated coverage on Gen Digital in a report on Tuesday, March 3rd. They issued an "equal weight" rating and a $22.00 price objective on the stock. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Gen Digital in a research note on Thursday, January 22nd. Barclays dropped their target price on shares of Gen Digital from $33.00 to $32.00 and set an "equal weight" rating for the company in a report on Friday, February 6th. Finally, Wall Street Zen upgraded shares of Gen Digital from a "hold" rating to a "buy" rating in a research report on Sunday, February 8th. Two investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $32.71.

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.

Want to see what other hedge funds are holding GEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gen Digital Inc. (NASDAQ:GEN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.