Elevation Point Wealth Partners LLC Makes New Investment in Gen Digital Inc. $GEN

Key Points

• Elevation Point Wealth Partners initiated a new position in Gen Digital during the first quarter, buying 181,325 shares valued at about $3.41 million.
• Gen Digital continues to attract significant institutional interest, with hedge funds and other investors owning 81.38% of the stock. Insider activity was mixed, as director Ondrej Vlcek sold 100,000 shares while director John C. Chrystal bought 3,000 shares.
• The company recently reported better-than-expected quarterly results, with EPS of $0.67 versus $0.65 expected and revenue of $1.28 billion, up 27% year over year. It also pays a quarterly dividend of $0.125 per share, for a 1.9% yield.

Elevation Point Wealth Partners LLC purchased a new position in Gen Digital Inc. (NASDAQ:GEN - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 181,325 shares of the company's stock, valued at approximately $3,414,000.

A number of other hedge funds also recently bought and sold shares of the company. First Trust Advisors LP raised its holdings in Gen Digital by 22.3% in the fourth quarter. First Trust Advisors LP now owns 19,941,546 shares of the company's stock worth $542,211,000 after buying an additional 3,640,451 shares during the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of Gen Digital during the fourth quarter valued at approximately $70,248,000. Arrowstreet Capital Limited Partnership increased its position in shares of Gen Digital by 36.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 8,978,710 shares of the company's stock valued at $244,131,000 after acquiring an additional 2,377,874 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Gen Digital by 167.2% during the fourth quarter. Victory Capital Management Inc. now owns 3,328,737 shares of the company's stock valued at $90,508,000 after acquiring an additional 2,082,850 shares in the last quarter. Finally, Boston Partners increased its position in shares of Gen Digital by 14.3% during the fourth quarter. Boston Partners now owns 15,644,289 shares of the company's stock valued at $425,336,000 after acquiring an additional 1,954,712 shares in the last quarter. Institutional investors own 81.38% of the company's stock.

Insider Buying and Selling at Gen Digital

In other news, Director Ondrej Vlcek sold 100,000 shares of the firm's stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $24.78, for a total value of $2,478,000.00. Following the transaction, the director owned 3,832,724 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John C. Chrystal acquired 3,000 shares of the firm's stock in a transaction dated Thursday, June 4th. The stock was bought at an average cost of $27.06 per share, for a total transaction of $81,180.00. Following the purchase, the director directly 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. The SEC filing for this purchase provides additional information. 9.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have commented on the company. Barclays increased their target price 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. Wall Street Zen cut Gen Digital from a "buy" rating to a "hold" rating in a research report on Saturday, June 20th. Royal Bank Of Canada lifted their price objective on Gen Digital from $22.00 to $24.00 and gave the stock a "sector perform" rating in a report on Friday, May 8th. Jefferies Financial Group lowered Gen Digital from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. Finally, Argus upgraded shares of Gen Digital to a "strong-buy" rating in a research note on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $31.29.

Gen Digital Price Performance

Shares of GEN stock opened at $26.67 on Friday. Gen Digital Inc. has a 12 month low of $17.78 and a 12 month high of $32.22. The stock has a market cap of $16.07 billion, a P/E ratio of 16.88 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. The company has a 50 day simple moving average of $23.71 and a two-hundred day simple moving average of $23.36.

Gen Digital (NASDAQ:GEN - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.02. Gen Digital had a net margin of 19.46% and a return on equity of 55.47%. The business had revenue of $1.28 billion for the quarter, compared to analysts' expectations of $1.25 billion. During the same quarter last year, the company posted $0.59 EPS. The company's revenue was up 27.0% compared to the same quarter last year. 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. On average, research analysts expect that Gen Digital Inc. will post 2.59 earnings per share for the current year.

Gen Digital Dividend Announcement

The business 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 annualized dividend and a yield of 1.9%. Gen Digital's payout ratio is 31.65%.

Gen Digital Company Profile

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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