Flossbach Von Storch SE Makes New $229,000 Investment in Gen Digital Inc. (NASDAQ:GEN)

Flossbach Von Storch SE bought a new position in Gen Digital Inc. (NASDAQ:GEN - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 8,610 shares of the company's stock, valued at approximately $229,000.

Other large investors also recently modified their holdings of the company. Mather Group LLC. raised its position in Gen Digital by 26.6% in 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 last quarter. Allspring Global Investments Holdings LLC raised its position in Gen Digital by 132.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 599,821 shares of the company's stock valued at $16,039,000 after buying an additional 341,533 shares during the last quarter. Wellington Management Group LLP raised its position in Gen Digital by 98.8% in the 4th quarter. Wellington Management Group LLP now owns 114,699 shares of the company's stock valued at $3,140,000 after buying an additional 56,993 shares during the last quarter. Cornerstone Wealth Group LLC purchased a new stake in shares of Gen Digital during the 1st quarter valued at $377,000. Finally, Exchange Traded Concepts LLC increased its position in shares of Gen Digital by 52.4% during the 1st quarter. Exchange Traded Concepts LLC now owns 11,146 shares of the company's stock valued at $296,000 after purchasing an additional 3,830 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Nora Denzel sold 31,646 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $28.76, for a total value of $910,138.96. Following the completion of the sale, the director directly owned 34,860 shares of the company's stock, valued at $1,002,573.60. This trade represents a 47.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 12.20% of the company's stock.

Gen Digital Trading Down 0.5%

Gen Digital stock opened at $29.94 on Wednesday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 3.51. The business's fifty day simple moving average is $28.70 and its two-hundred day simple moving average is $27.45. Gen Digital Inc. has a 12 month low of $22.74 and a 12 month high of $31.72. The company has a market capitalization of $18.57 billion, a price-to-earnings ratio of 28.79, a price-to-earnings-growth ratio of 1.12 and a beta of 1.01.

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

Gen Digital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Monday, May 19th were paid a dividend of $0.125 per share. 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 payout ratio is presently 48.08%.

Wall Street Analysts Forecast Growth

GEN has been the subject of several recent research reports. 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 company a "sector perform" rating in a research report on Wednesday, May 7th. Evercore ISI initiated coverage on Gen Digital in a report on Tuesday, July 1st. They set an "outperform" rating and a $35.00 price objective on the stock. Finally, Morgan Stanley decreased their price target on Gen Digital from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Gen Digital currently has a consensus rating of "Buy" and a consensus target price of $30.00.

Gen Digital Company 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.

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