Envestnet Asset Management Inc. Purchases 21,814 Shares of Gen Digital Inc. (NASDAQ:GEN)

Key Points

• Envestnet Asset Management Inc. increased its stake in Gen Digital Inc. by 15.3%, acquiring an additional 21,814 shares for a total of 164,012 shares valued at $4,353,000.
• A variety of analysts have recently issued mixed ratings on Gen Digital, with target prices ranging from $25.00 to $46.00, leading to an average consensus price target of $33.60.
• Gen Digital has announced a quarterly dividend of $0.125, translating to an annualized yield of 1.63%, with a reported dividend payout ratio of 48.08%.

Envestnet Asset Management Inc. increased its position in Gen Digital Inc. (NASDAQ:GEN - Free Report) by 15.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 164,012 shares of the company's stock after purchasing an additional 21,814 shares during the period. Envestnet Asset Management Inc.'s holdings in Gen Digital were worth $4,353,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC boosted its stake in shares of Gen Digital by 117.6% during the 1st quarter. Catalyst Capital Advisors LLC now owns 1,580 shares of the company's stock valued at $42,000 after buying an additional 854 shares during the period. Tsfg LLC acquired a new stake in shares of Gen Digital during the 1st quarter valued at $52,000. Mather Group LLC. boosted its stake in shares of Gen Digital by 26.6% during the 1st quarter. Mather Group LLC. now owns 3,730 shares of the company's stock valued at $99,000 after buying an additional 783 shares during the period. Curat Global LLC acquired a new stake in shares of Gen Digital during the 1st quarter valued at $154,000. Finally, Sagespring Wealth Partners LLC acquired a new stake in shares of Gen Digital during the 1st quarter valued at $212,000. Institutional investors and hedge funds own 81.38% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on GEN. Morgan Stanley decreased their target price on shares of Gen Digital from $27.00 to $25.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Wall Street Zen lowered shares of Gen Digital from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th. Evercore ISI began coverage on shares of Gen Digital in a research note on Tuesday, July 1st. They set an "outperform" rating and a $35.00 target price for the company. Barclays lifted their target price on shares of Gen Digital from $30.00 to $32.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. Finally, B. Riley started coverage on shares of Gen Digital in a report on Monday, July 14th. They set a "buy" rating and a $46.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Gen Digital presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.60.

Insider Buying and Selling

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

Gen Digital Stock Up 0.0%

Shares of Gen Digital stock traded up $0.01 during midday trading on Tuesday, reaching $30.53. 379,544 shares of the company's stock traded hands, compared to its average volume of 4,109,384. The company has a market cap of $18.93 billion, a price-to-earnings ratio of 29.35, a price-to-earnings-growth ratio of 1.12 and a beta of 1.01. The company's 50 day simple moving average is $29.40 and its 200 day simple moving average is $27.71. The company has a debt-to-equity ratio of 3.51, a quick ratio of 0.51 and a current ratio of 0.51. Gen Digital Inc. has a 52 week low of $22.74 and a 52 week high of $31.72.

Gen Digital (NASDAQ:GEN - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $999.48 million. Gen Digital had a net margin of 16.34% and a return on equity of 59.38%. Gen Digital's revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.53 EPS. Equities analysts expect that Gen Digital Inc. will post 2.05 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 11th. Investors of record on Monday, May 19th were issued a $0.125 dividend. The ex-dividend date was Monday, May 19th. This represents a $0.50 annualized dividend and a yield of 1.64%. Gen Digital's dividend payout ratio (DPR) is presently 48.08%.

About Gen Digital

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.