Penserra Capital Management LLC Has $78.88 Million Stock Position in Gen Digital Inc. (NASDAQ:GEN)

Penserra Capital Management LLC grew its holdings in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 33.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,972,160 shares of the company's stock after purchasing an additional 736,809 shares during the period. Gen Digital makes up 1.4% of Penserra Capital Management LLC's portfolio, making the stock its 12th biggest holding. Penserra Capital Management LLC owned 0.48% of Gen Digital worth $78,880,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in GEN. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Gen Digital in the fourth quarter worth about $14,367,000. QSM Asset Management Ltd acquired a new position in shares of Gen Digital in the fourth quarter worth about $5,373,000. Brighton Jones LLC boosted its holdings in shares of Gen Digital by 5.4% in the fourth quarter. Brighton Jones LLC now owns 25,212 shares of the company's stock worth $690,000 after buying an additional 1,299 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Gen Digital by 98.8% in the fourth quarter. Wellington Management Group LLP now owns 114,699 shares of the company's stock worth $3,140,000 after buying an additional 56,993 shares during the period. Finally, Kera Capital Partners Inc. boosted its holdings in shares of Gen Digital by 41.7% in the first quarter. Kera Capital Partners Inc. now owns 11,777 shares of the company's stock worth $313,000 after buying an additional 3,466 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Gen Digital

In other news, Director Nora Denzel sold 31,646 shares of Gen Digital stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $28.76, for a total value of $910,138.96. Following the transaction, the director owned 34,860 shares of the company's stock, valued at $1,002,573.60. This trade represents a 47.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 12.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

GEN has been the subject of several recent analyst reports. Morgan Stanley decreased their target price on shares of Gen Digital from $27.00 to $25.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Royal Bank Of Canada increased their price target 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. Wall Street Zen lowered shares of Gen Digital from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Finally, Evercore ISI initiated coverage on shares of Gen Digital in a research report on Tuesday, July 1st. They issued an "outperform" rating and a $35.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $30.00.

Gen Digital Stock Down 1.3%

GEN traded down $0.39 during midday trading on Monday, hitting $30.10. 5,002,067 shares of the company's stock traded hands, compared to its average volume of 3,749,958. The company has a market cap of $18.67 billion, a PE ratio of 28.94, a price-to-earnings-growth ratio of 1.14 and a beta of 1.01. The stock's fifty day simple moving average is $28.53 and its 200-day simple moving average is $27.42. The company has a debt-to-equity ratio of 3.51, a current ratio of 0.51 and a quick ratio of 0.51. Gen Digital Inc. has a one year low of $22.74 and a one year high of $31.72.

Gen Digital (NASDAQ:GEN - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.01. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm earned $0.53 earnings per share. 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 company also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Monday, May 19th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date was Monday, May 19th. Gen Digital's dividend payout ratio is 48.08%.

About Gen Digital

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.