Edgestream Partners L.P. Raises Holdings in Gen Digital Inc. $GEN

Key Points

• Edgestream Partners increased its Gen Digital stake by 430.8% in the first quarter, bringing its holdings to 58,721 shares worth approximately $1.1 million. Institutional investors collectively own 81.38% of the company.
• Gen Digital reported quarterly EPS of $0.67 and revenue of $1.28 billion, exceeding analyst expectations, while revenue rose 27% year over year. The company also announced a quarterly dividend of $0.125 per share, equivalent to a 1.8% annual yield.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $29.33. Insider activity was mixed, as one director sold 100,000 shares while another purchased 3,000 shares.

Edgestream Partners L.P. grew its holdings in Gen Digital Inc. (NASDAQ:GEN - Free Report) by 430.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,721 shares of the company's stock after buying an additional 47,659 shares during the quarter. Edgestream Partners L.P.'s holdings in Gen Digital were worth $1,106,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of GEN. Blue Trust Inc. raised its position in Gen Digital by 2.4% in the fourth quarter. Blue Trust Inc. now owns 16,210 shares of the company's stock worth $441,000 after acquiring an additional 387 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of Gen Digital by 20.9% during the 3rd quarter. Larson Financial Group LLC now owns 2,255 shares of the company's stock worth $64,000 after purchasing an additional 390 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Gen Digital by 14.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,376 shares of the company's stock worth $64,000 after purchasing an additional 427 shares in the last quarter. Vident Advisory LLC grew its stake in shares of Gen Digital by 1.6% during the 3rd quarter. Vident Advisory LLC now owns 26,906 shares of the company's stock worth $764,000 after purchasing an additional 428 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in shares of Gen Digital by 5.9% in the fourth quarter. Fisher Asset Management LLC now owns 7,735 shares of the company's stock valued at $210,000 after purchasing an additional 430 shares during the period. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Gen Digital Trading Up 2.6%

Gen Digital stock opened at $28.17 on Tuesday. The stock has a 50-day moving average price of $25.69 and a 200 day moving average price of $23.25. Gen Digital Inc. has a 52 week low of $17.78 and a 52 week high of $32.22. The stock has a market cap of $16.86 billion, a PE ratio of 17.83 and a beta of 1.21. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 3.07.

Gen Digital (NASDAQ:GEN - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.02. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. Gen Digital had a net margin of 19.46% and a return on equity of 55.47%. The firm's quarterly revenue was up 27.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.59 EPS. Gen Digital has set its Q1 2027 guidance at 0.680-0.700 EPS and its FY 2027 guidance at 2.850-2.950 EPS. Equities research analysts predict that Gen Digital Inc. will post 2.61 earnings per share for the current fiscal year.

Gen Digital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, May 18th were given a dividend of $0.125 per share. The ex-dividend date was Monday, May 18th. This represents a $0.50 dividend on an annualized basis and a yield of 1.8%. Gen Digital's dividend payout ratio (DPR) is 31.65%.

Insider Activity at Gen Digital

In other news, Director Ondrej Vlcek sold 100,000 shares of the firm's stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $24.78, for a total transaction of $2,478,000.00. Following the sale, the director owned 3,832,724 shares in the company, valued at $94,974,900.72. This trade represents a 2.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John C. Chrystal acquired 3,000 shares of the stock in a transaction dated Thursday, June 4th. The stock was acquired at an average cost of $27.06 per share, with a total value of $81,180.00. Following the transaction, the director owned 31,419 shares of the company's stock, valued at approximately $850,198.14. This trade represents a 10.56% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 9.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on GEN shares. Jefferies Financial Group lowered shares of Gen Digital from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. Weiss Ratings upgraded shares of Gen Digital from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, July 15th. Argus raised Gen Digital to a "strong-buy" rating in a research note on Friday, May 22nd. Barclays raised their price objective on Gen Digital from $26.00 to $27.00 and gave the company an "equal weight" rating in a research note on Friday, May 8th. Finally, Wall Street Zen lowered Gen Digital from a "buy" rating to a "hold" rating in a report on Saturday, June 20th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $29.33.

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.

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