Gen Digital Inc. $GEN Holdings Raised by Fifth Third Bancorp

Fifth Third Bancorp increased its stake in Gen Digital Inc. (NASDAQ:GEN - Free Report) by 1,246.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 163,004 shares of the company's stock after purchasing an additional 150,894 shares during the quarter. Fifth Third Bancorp's holdings in Gen Digital were worth $3,069,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of GEN. Vanguard Group Inc. lifted its holdings in shares of Gen Digital by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 73,310,110 shares of the company's stock valued at $1,993,302,000 after purchasing an additional 1,096,313 shares in the last quarter. State Street Corp boosted its position in shares of Gen Digital by 3.4% in the third quarter. State Street Corp now owns 30,558,806 shares of the company's stock worth $867,565,000 after buying an additional 1,015,755 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Gen Digital by 6.7% during the second quarter. Ameriprise Financial Inc. now owns 22,473,917 shares of the company's stock valued at $660,730,000 after buying an additional 1,406,869 shares in the last quarter. First Trust Advisors LP raised its position in Gen Digital by 22.3% during the fourth quarter. First Trust Advisors LP now owns 19,941,546 shares of the company's stock valued at $542,211,000 after buying an additional 3,640,451 shares during the period. Finally, Boston Partners raised its position in Gen Digital by 14.3% during the fourth quarter. Boston Partners now owns 15,644,289 shares of the company's stock valued at $425,336,000 after buying an additional 1,954,712 shares during the period. Institutional investors and hedge funds own 81.38% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on GEN shares. Argus upgraded Gen Digital to a "strong-buy" rating in a research report on Friday, May 22nd. Barclays upped their target price on Gen Digital from $26.00 to $27.00 and gave the company an "equal weight" rating in a report on Friday, May 8th. Jefferies Financial Group cut shares of Gen Digital from a "strong-buy" rating to a "hold" rating in a report on Monday, April 27th. Weiss Ratings raised shares of Gen Digital from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, July 15th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and issued a $27.00 price objective on shares of Gen Digital in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Gen Digital has an average rating of "Hold" and an average target price of $29.33.

Insider Activity at Gen Digital

In other Gen Digital news, Director Ondrej Vlcek sold 100,000 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $24.78, for a total transaction of $2,478,000.00. Following the transaction, the director owned 3,832,724 shares in the company, valued at $94,974,900.72. This trade represents a 2.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John C. Chrystal acquired 3,000 shares of the firm's stock in a transaction that occurred on Thursday, June 4th. The shares were purchased at an average cost of $27.06 per share, with a total value of $81,180.00. Following the completion of the acquisition, the director owned 31,419 shares in the company, valued at $850,198.14. This trade represents a 10.56% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 9.30% of the company's stock.

Gen Digital Trading Down 0.3%

Shares of NASDAQ GEN opened at $26.67 on Tuesday. The business has a 50 day simple moving average of $25.14 and a 200 day simple moving average of $23.24. Gen Digital Inc. has a 52 week low of $17.78 and a 52 week high of $32.22. The stock has a market cap of $16.07 billion, a price-to-earnings ratio of 16.88 and a beta of 1.21. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.40 and a current ratio of 0.40.

Gen Digital (NASDAQ:GEN - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.02. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. Gen Digital had a net margin of 19.46% and a return on equity of 55.47%. The company's revenue for the quarter was up 27.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.59 earnings per share. Gen Digital has set its Q1 2027 guidance at 0.680-0.700 EPS and its FY 2027 guidance at 2.850-2.950 EPS. On average, research analysts predict that Gen Digital Inc. will post 2.59 earnings per share for the current fiscal year.

Gen Digital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Monday, May 18th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.50 dividend on an annualized basis and a yield of 1.9%. Gen Digital's dividend payout ratio is presently 31.65%.

Gen Digital Profile

Gen Digital NASDAQ: GEN is a global cybersecurity company specializing in consumer- and small-business-focused security, privacy, and identity protection solutions. The company offers a suite of products designed to safeguard devices, networks, and personal information against malware, ransomware, phishing attacks and other digital threats. With a focus on user-friendly interfaces and cross-platform compatibility, Gen Digital develops antivirus software, VPN services, parental controls, password management tools, and comprehensive identity-theft monitoring services.

Gen Digital traces its origins to the consumer software division of Symantec Corporation, which was spun off in late 2019 under the NortonLifeLock name.

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