Fort Washington Investment Advisors Inc. OH Buys New Position in Gen Digital Inc. (NASDAQ:GEN)

Fort Washington Investment Advisors Inc. OH bought a new position in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 8,493 shares of the company's stock, valued at approximately $225,000.

Several other institutional investors have also modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Gen Digital in the 4th quarter valued at about $14,367,000. GAMMA Investing LLC grew its holdings in Gen Digital by 2,954.9% in the first quarter. GAMMA Investing LLC now owns 322,169 shares of the company's stock valued at $8,550,000 after purchasing an additional 311,623 shares during the period. QSM Asset Management Ltd acquired a new position in Gen Digital during the fourth quarter worth approximately $5,373,000. Rhumbline Advisers raised its stake in Gen Digital by 6.6% during the first quarter. Rhumbline Advisers now owns 1,116,301 shares of the company's stock worth $29,627,000 after purchasing an additional 69,558 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of 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 during the last quarter. Hedge funds and other institutional investors own 81.38% of the company's stock.

Gen Digital Stock Performance

Shares of Gen Digital stock traded down $0.25 during trading hours on Tuesday, reaching $29.77. The company's stock had a trading volume of 4,643,477 shares, compared to its average volume of 3,820,769. Gen Digital Inc. has a one year low of $22.74 and a one year high of $31.72. The company's 50 day simple moving average is $27.24 and its 200 day simple moving average is $27.48. The company has a debt-to-equity ratio of 3.51, a quick ratio of 0.51 and a current ratio of 0.51. The stock has a market cap of $18.46 billion, a P/E ratio of 28.63, 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 the consensus estimate of $0.58 by $0.01. The company had revenue of $1.01 billion during 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%. The company's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 earnings per share. As a group, analysts expect that Gen Digital Inc. will post 2.05 EPS for the current fiscal year.

Gen Digital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Monday, May 19th were paid a $0.125 dividend. The ex-dividend date was Monday, May 19th. This represents a $0.50 annualized dividend and a dividend yield of 1.68%. Gen Digital's dividend payout ratio is currently 48.08%.

Insider Buying and Selling

In related news, Director Nora Denzel sold 31,646 shares of the company's 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 now directly owns 34,860 shares of the company's stock, valued at approximately $1,002,573.60. The trade was a 47.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 12.20% of the company's stock.

Analyst Ratings Changes

GEN has been the subject of a number of research analyst reports. Royal Bank Of Canada increased their target price on shares of Gen Digital from $28.00 to $30.00 and gave the stock a "sector perform" rating in a research report on Wednesday, May 7th. Morgan Stanley dropped their price objective on shares of 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.

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.