8,610 Shares in Gen Digital Inc. (NASDAQ:GEN) Acquired by Flossbach Von Storch SE

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

Several other institutional investors have also added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale grew its position in shares of Gen Digital by 3.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 258,608 shares of the company's stock worth $6,761,000 after buying an additional 8,304 shares during the period. Crossmark Global Holdings Inc. grew its stake in shares of Gen Digital by 19.5% in the first quarter. Crossmark Global Holdings Inc. now owns 313,490 shares of the company's stock worth $8,320,000 after acquiring an additional 51,183 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Gen Digital by 15.3% in the first quarter. Envestnet Asset Management Inc. now owns 164,012 shares of the company's stock worth $4,353,000 after acquiring an additional 21,814 shares during the last quarter. Penserra Capital Management LLC raised its holdings in Gen Digital by 33.0% in the first quarter. Penserra Capital Management LLC now owns 2,972,160 shares of the company's stock worth $78,880,000 after buying an additional 736,809 shares during the last quarter. Finally, Rice Partnership LLC raised its holdings in Gen Digital by 51.2% in the first quarter. Rice Partnership LLC now owns 117,727 shares of the company's stock worth $3,124,000 after buying an additional 39,866 shares during the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on GEN. Wall Street Zen lowered Gen Digital from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 5th. Royal Bank Of Canada boosted their target price on shares of Gen Digital from $28.00 to $30.00 and gave the company a "sector perform" rating in a research report on Wednesday, May 7th. Morgan Stanley lowered their price target on shares of Gen Digital from $27.00 to $25.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Finally, Evercore ISI started coverage on Gen Digital in a report on Tuesday, July 1st. They set an "outperform" rating and a $35.00 price target for the company. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $30.00.

Insider Activity

In other news, Director Nora Denzel sold 31,646 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $28.76, for a total transaction of $910,138.96. Following the transaction, the director owned 34,860 shares of the company's stock, valued at approximately $1,002,573.60. This represents a 47.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 12.20% of the company's stock.

Gen Digital Trading Down 0.7%

Shares of GEN stock traded down $0.22 on Thursday, reaching $29.95. 767,798 shares of the company's stock were exchanged, compared to its average volume of 4,229,492. Gen Digital Inc. has a 52 week low of $22.74 and a 52 week high of $31.72. 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 stock has a market capitalization of $18.57 billion, a PE ratio of 28.79, a P/E/G ratio of 1.12 and a beta of 1.01. The company's fifty day simple moving average is $28.79 and its 200 day simple moving average is $27.47.

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

Gen Digital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Monday, May 19th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend was Monday, May 19th. Gen Digital's dividend payout ratio is presently 48.08%.

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.