Gen Digital Inc. $GEN Shares Bought by Fjarde AP Fonden Fourth Swedish National Pension Fund

Key Points

• Fjarde AP Fonden boosted its Gen Digital stake by 57.9% in the first quarter, buying 139,400 more shares and lifting its holdings to 380,231 shares worth about $7.16 million.
• Gen Digital reported better-than-expected quarterly results, with earnings of $0.67 per share and revenue of $1.28 billion, while revenue rose 27% from a year earlier.
• Analysts remain cautious overall: the stock has a Hold consensus rating, even after several target price adjustments and mixed rating changes from firms including Barclays, Jefferies, RBC, and Wall Street Zen.

Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 57.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 380,231 shares of the company's stock after acquiring an additional 139,400 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund owned approximately 0.06% of Gen Digital worth $7,160,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC acquired a new stake in Gen Digital in the 4th quarter valued at approximately $27,000. TD Private Client Wealth LLC lifted its stake in Gen Digital by 65.8% during the fourth quarter. TD Private Client Wealth LLC now owns 1,539 shares of the company's stock worth $42,000 after purchasing an additional 611 shares in the last quarter. MUFG Securities EMEA plc purchased a new position in shares of Gen Digital during the second quarter worth $47,000. Geneos Wealth Management Inc. grew its stake in shares of Gen Digital by 221.5% in the first quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company's stock valued at $46,000 after buying an additional 1,183 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its holdings in shares of Gen Digital by 47.8% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,756 shares of the company's stock valued at $50,000 after buying an additional 568 shares during the period. 81.38% of the stock is owned by hedge funds and other institutional investors.

Gen Digital Stock Performance

Shares of GEN opened at $26.67 on Monday. Gen Digital Inc. has a 1 year low of $17.78 and a 1 year high of $32.22. The stock has a market capitalization of $16.07 billion, a PE 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. The stock has a 50-day simple moving average of $23.71 and a 200-day simple moving average of $23.33.

Gen Digital (NASDAQ:GEN - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.67 earnings per share for the quarter, topping analysts' consensus estimates 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 business's quarterly revenue was up 27.0% compared to the same quarter last year. During the same period in the prior 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, analysts predict that Gen Digital Inc. will post 2.59 earnings per share for the current fiscal year.

Gen Digital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Monday, May 18th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Monday, May 18th. Gen Digital's dividend payout ratio (DPR) is presently 31.65%.

Insiders Place Their Bets

In other news, Director Ondrej Vlcek sold 100,000 shares of Gen Digital stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $24.78, for a total transaction of $2,478,000.00. Following the completion of the sale, the director directly owned 3,832,724 shares of the company's stock, valued at approximately $94,974,900.72. The trade was a 2.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John C. Chrystal bought 3,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were purchased at an average price of $27.06 per share, with a total value of $81,180.00. Following the purchase, the director owned 31,419 shares of the company's stock, valued at approximately $850,198.14. This represents a 10.56% increase in their position. The SEC filing for this purchase provides additional information. 9.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on GEN shares. Barclays raised 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 research report on Monday, April 27th. Weiss Ratings reissued a "hold (c)" rating on shares of Gen Digital in a research note on Thursday, June 18th. Royal Bank Of Canada upped their target price on shares of Gen Digital from $22.00 to $24.00 and gave the stock a "sector perform" rating in a research note on Friday, May 8th. Finally, Wall Street Zen lowered shares of Gen Digital from a "buy" rating to a "hold" rating in a report on Saturday, June 20th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $31.29.

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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