APG Asset Management N.V. Sells 68,679 Shares of Gen Digital Inc. $GEN

Key Points

• APG Asset Management N.V. has reduced its stake in Gen Digital Inc. by 10.4%, now holding approximately 590,278 shares valued at about $14.5 million.
• Several institutional investors, including Nuveen LLC and Boston Partners, significantly increased their holdings in Gen Digital, demonstrating strong institutional confidence in the company.
• Gen Digital reported a 30.3% increase in quarterly revenue year-over-year, achieving $1.26 billion and exceeding analysts' estimates.

APG Asset Management N.V. lessened its holdings in Gen Digital Inc. (NASDAQ:GEN - Free Report) by 10.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 590,278 shares of the company's stock after selling 68,679 shares during the period. APG Asset Management N.V. owned 0.10% of Gen Digital worth $14,503,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Allstate Corp raised its stake in Gen Digital by 8.0% in the 1st quarter. Allstate Corp now owns 17,955 shares of the company's stock valued at $477,000 after acquiring an additional 1,335 shares during the period. Compound Planning Inc. boosted its stake in Gen Digital by 32.2% in the 1st quarter. Compound Planning Inc. now owns 12,199 shares of the company's stock valued at $324,000 after purchasing an additional 2,974 shares during the period. Ameriprise Financial Inc. boosted its stake in Gen Digital by 3.8% in the 1st quarter. Ameriprise Financial Inc. now owns 21,067,048 shares of the company's stock valued at $559,126,000 after purchasing an additional 768,652 shares during the period. Norinchukin Bank The boosted its stake in Gen Digital by 16.0% in the 1st quarter. Norinchukin Bank The now owns 29,542 shares of the company's stock valued at $784,000 after purchasing an additional 4,083 shares during the period. Finally, Capital Fund Management S.A. boosted its stake in Gen Digital by 69.0% in the 1st quarter. Capital Fund Management S.A. now owns 86,340 shares of the company's stock valued at $2,291,000 after purchasing an additional 35,246 shares during the period. Institutional investors own 81.38% of the company's stock.

Wall Street Analyst Weigh In

GEN has been the subject of several recent research reports. Wells Fargo & Company boosted their price target on Gen Digital from $37.00 to $40.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Wall Street Zen downgraded Gen Digital from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th. B. Riley initiated coverage on Gen Digital in a research note on Monday, July 14th. They issued a "buy" rating and a $46.00 price target for the company. Barclays raised their price objective on Gen Digital from $32.00 to $33.00 and gave the stock an "equal weight" rating in a research note on Friday, August 8th. Finally, Royal Bank Of Canada upped their target price on Gen Digital from $32.00 to $33.00 and gave the company a "sector perform" rating in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, Gen Digital presently has an average rating of "Moderate Buy" and a consensus target price of $35.33.

Gen Digital Price Performance

NASDAQ GEN traded down $0.53 on Thursday, hitting $30.21. 3,938,078 shares of the company's stock were exchanged, compared to its average volume of 4,137,042. The stock has a 50-day moving average of $30.14 and a 200-day moving average of $28.18. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 3.63. Gen Digital Inc. has a 52 week low of $22.74 and a 52 week high of $32.22. The stock has a market cap of $18.61 billion, a price-to-earnings ratio of 31.14, a P/E/G ratio of 1.03 and a beta of 1.00.

Gen Digital (NASDAQ:GEN - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.04. The firm had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.19 billion. Gen Digital had a return on equity of 57.99% and a net margin of 14.12%.The company's quarterly revenue was up 30.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.53 earnings per share. Gen Digital has set its Q2 2026 guidance at 0.600-0.620 EPS. FY 2026 guidance at 2.490-2.560 EPS. Analysts expect that Gen Digital Inc. will post 2.05 earnings per share for the current year.

Gen Digital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Monday, August 18th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, August 18th. Gen Digital's payout ratio is presently 51.55%.

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.