Gen Digital Inc. (NASDAQ:GEN) Shares Bought by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. increased its holdings in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 19.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 313,490 shares of the company's stock after buying an additional 51,183 shares during the period. Crossmark Global Holdings Inc. owned about 0.05% of Gen Digital worth $8,320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its holdings in Gen Digital by 2.3% in the 1st quarter. Bank of New York Mellon Corp now owns 5,184,489 shares of the company's stock valued at $137,596,000 after purchasing an additional 117,013 shares in the last quarter. Penserra Capital Management LLC lifted its holdings in Gen Digital by 33.0% in the 1st quarter. Penserra Capital Management LLC now owns 2,972,160 shares of the company's stock valued at $78,880,000 after purchasing an additional 736,809 shares in the last quarter. KBC Group NV lifted its holdings in Gen Digital by 32.7% in the 1st quarter. KBC Group NV now owns 2,769,361 shares of the company's stock valued at $73,499,000 after purchasing an additional 682,530 shares in the last quarter. Achmea Investment Management B.V. lifted its holdings in Gen Digital by 40.2% in the 1st quarter. Achmea Investment Management B.V. now owns 1,454,610 shares of the company's stock valued at $38,605,000 after purchasing an additional 417,206 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in Gen Digital by 6.6% in the 1st quarter. Rhumbline Advisers now owns 1,116,301 shares of the company's stock valued at $29,627,000 after purchasing an additional 69,558 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company's stock.

Insiders Place Their Bets

In related news, Director Nora Denzel sold 31,646 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $28.76, for a total transaction of $910,138.96. Following the transaction, the director owned 34,860 shares of the company's stock, valued at $1,002,573.60. This represents a 47.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 12.20% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on GEN shares. Wall Street Zen lowered Gen Digital from a "strong-buy" rating to a "buy" rating in a report on Saturday. Royal Bank Of Canada lifted their price target on Gen Digital from $28.00 to $30.00 and gave the stock a "sector perform" rating in a report on Wednesday, May 7th. Evercore ISI initiated coverage on Gen Digital in a research report on Tuesday, July 1st. They set an "outperform" rating and a $35.00 price objective for the company. Finally, Morgan Stanley cut their price objective on Gen Digital from $27.00 to $25.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $30.00.

Gen Digital Stock Down 0.5%

GEN stock traded down $0.16 during trading on Tuesday, hitting $29.94. 3,005,442 shares of the company's stock were exchanged, compared to its average volume of 3,746,994. The business has a 50-day moving average price of $28.62 and a two-hundred day moving average price of $27.43. The stock has a market capitalization of $18.57 billion, a price-to-earnings ratio of 28.79, a PEG ratio of 1.14 and a beta of 1.01. Gen Digital Inc. has a 52-week low of $22.74 and a 52-week high of $31.72. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 3.51.

Gen Digital (NASDAQ:GEN - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.01. Gen Digital had a return on equity of 59.38% and a net margin of 16.34%. The company had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $999.48 million. During the same quarter in the previous year, the business earned $0.53 earnings per share. The firm's revenue for the quarter was up 4.4% on a year-over-year basis. As a group, equities research analysts expect that Gen Digital Inc. will post 2.05 EPS for the current year.

Gen Digital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Monday, May 19th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend was Monday, May 19th. Gen Digital's dividend payout ratio is currently 48.08%.

Gen Digital Profile

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.