Price T Rowe Associates Inc. MD Has $186.64 Million Stake in Gen Digital Inc. $GEN

Key Points

• Price T Rowe Associates Inc. has reduced its holdings in Gen Digital by 8.0%, now owning over 7 million shares valued at approximately $186.6 million.
• Several institutional investors have recently altered their positions in GEN, with some increasing their stakes significantly, indicating a robust interest among hedge funds.
• Gen Digital reported better-than-expected quarterly earnings, with a 30.3% year-over-year revenue growth, alongside a quarterly dividend of $0.125 per share, yielding 1.6%.

Price T Rowe Associates Inc. MD reduced its position in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 8.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,032,434 shares of the company's stock after selling 613,089 shares during the period. Price T Rowe Associates Inc. MD owned approximately 1.14% of Gen Digital worth $186,642,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Catalyst Capital Advisors LLC grew its stake in shares of Gen Digital by 117.6% in the 1st quarter. Catalyst Capital Advisors LLC now owns 1,580 shares of the company's stock worth $42,000 after purchasing an additional 854 shares during the last quarter. Tsfg LLC acquired a new stake in Gen Digital during the first quarter valued at approximately $52,000. Capital Analysts LLC bought a new stake in Gen Digital during the first quarter worth approximately $85,000. Mather Group LLC. grew its position in Gen Digital by 26.6% in the first quarter. Mather Group LLC. now owns 3,730 shares of the company's stock worth $99,000 after buying an additional 783 shares during the last quarter. Finally, Curat Global LLC acquired a new position in Gen Digital in the first quarter worth approximately $154,000. 81.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on GEN shares. Wells Fargo & Company increased their price objective on Gen Digital from $37.00 to $40.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. B. Riley started coverage on Gen Digital in a report on Monday, July 14th. They set a "buy" rating and a $46.00 target price for the company. Royal Bank Of Canada lifted their price target on Gen Digital from $32.00 to $33.00 and gave the stock a "sector perform" rating in a research note on Friday, August 8th. Evercore ISI assumed coverage on shares of Gen Digital in a research report on Tuesday, July 1st. They issued an "outperform" rating and a $35.00 target price on the stock. Finally, Wall Street Zen cut shares of Gen Digital from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 5th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $35.33.

Gen Digital Stock Down 0.3%

Shares of NASDAQ GEN traded down $0.10 during mid-day trading on Friday, reaching $30.11. The company had a trading volume of 1,545,298 shares, compared to its average volume of 4,120,631. Gen Digital Inc. has a twelve month low of $22.74 and a twelve month high of $32.22. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.50 and a current ratio of 0.50. The stock has a market capitalization of $18.54 billion, a PE ratio of 31.07, a price-to-earnings-growth ratio of 1.03 and a beta of 1.00. The stock's 50 day moving average is $30.16 and its 200-day moving average is $28.19.

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

Gen Digital Dividend Announcement

The firm 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 $0.125 dividend. The ex-dividend date is Monday, August 18th. This represents a $0.50 dividend on an annualized basis and a yield of 1.7%. Gen Digital's payout ratio is 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.