Flossbach Von Storch SE Takes $229,000 Position in Gen Digital Inc. (NASDAQ:GEN)

Flossbach Von Storch SE purchased a new position in Gen Digital Inc. (NASDAQ:GEN - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 8,610 shares of the company's stock, valued at approximately $229,000.

Other large investors also recently added to or reduced their stakes in the company. Mather Group LLC. lifted its holdings 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 purchasing an additional 783 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings 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 purchasing an additional 341,533 shares in the last quarter. Wellington Management Group LLP lifted its holdings 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 purchasing an additional 56,993 shares in the last quarter. Cornerstone Wealth Group LLC purchased a new stake in shares of Gen Digital in the first quarter valued at approximately $377,000. Finally, Exchange Traded Concepts LLC increased its holdings in shares of Gen Digital by 52.4% in the first 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 and hedge funds.

Gen Digital Trading Up 0.7%

Shares of NASDAQ GEN traded up $0.22 during mid-day trading on Wednesday, reaching $30.16. 2,991,311 shares of the company's stock were exchanged, compared to its average volume of 3,747,680. The firm has a market capitalization of $18.71 billion, a price-to-earnings ratio of 29.00, a PEG ratio of 1.12 and a beta of 1.01. 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. The company's 50-day moving average is $28.70 and its 200-day moving average is $27.45.

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, topping analysts' consensus estimates of $0.58 by $0.01. The business had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $999.48 million. Gen Digital had a return on equity of 59.38% and a net margin of 16.34%. The company's revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.53 EPS. Analysts expect that Gen Digital Inc. will post 2.05 EPS for the current fiscal year.

Gen Digital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Monday, May 19th were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend was Monday, May 19th. Gen Digital's dividend payout ratio is currently 48.08%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on GEN shares. 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 on the stock. Wall Street Zen lowered shares of Gen Digital from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Royal Bank Of Canada increased their price objective on Gen Digital from $28.00 to $30.00 and gave the stock a "sector perform" rating in a research report on Wednesday, May 7th. Finally, Morgan Stanley lowered 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 analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $30.00.

Insider Activity

In related news, Director Nora Denzel sold 31,646 shares of Gen Digital stock in a transaction 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 transaction, the director directly owned 34,860 shares in the company, valued at approximately $1,002,573.60. This trade represents a 47.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 12.20% of the company's stock.

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.