Gen Digital Inc. (NASDAQ:GEN) Shares Bought by Cozad Asset Management Inc.

Key Points

• Cozad Asset Management Inc. increased its holdings in Gen Digital Inc. by 4.6%, owning 274,400 shares valued at $7.28 million.
• Gen Digital reported $1.01 billion in revenue for the last quarter, surpassing estimates and showing a 4.4% increase compared to the same period last year.
• The company announced a quarterly dividend of $0.125 per share with a yield of 1.64%, maintaining a payout ratio of 48.08%.

Cozad Asset Management Inc. lifted its position in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 4.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 274,400 shares of the company's stock after buying an additional 12,000 shares during the quarter. Cozad Asset Management Inc.'s holdings in Gen Digital were worth $7,283,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Catalyst Capital Advisors LLC raised its stake in shares of Gen Digital by 117.6% in the first 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 purchased a new position in Gen Digital during the first quarter valued at approximately $52,000. Mather Group LLC. raised its position in Gen Digital by 26.6% during the first quarter. Mather Group LLC. now owns 3,730 shares of the company's stock valued at $99,000 after acquiring an additional 783 shares in the last quarter. Curat Global LLC purchased a new position in Gen Digital during the first quarter valued at approximately $154,000. Finally, Sagespring Wealth Partners LLC purchased a new position in Gen Digital during the first quarter valued at approximately $212,000. Institutional investors own 81.38% of the company's stock.

Insiders Place Their Bets

In other Gen Digital news, Director Nora Denzel sold 31,646 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $28.76, for a total transaction of $910,138.96. Following the completion of the sale, the director directly owned 34,860 shares of the company's stock, valued at approximately $1,002,573.60. This trade represents a 47.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 12.20% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on GEN. B. Riley initiated coverage on Gen Digital in a research report on Monday, July 14th. They set a "buy" rating and a $46.00 price target for the company. Evercore ISI assumed coverage on Gen Digital in a research note on Tuesday, July 1st. They set an "outperform" rating and a $35.00 price objective on the stock. Morgan Stanley lowered their price objective on Gen Digital from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Wall Street Zen downgraded Gen Digital from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 5th. Finally, Barclays upped their price target on Gen Digital from $30.00 to $32.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $33.60.

Gen Digital Stock Down 2.2%

NASDAQ GEN traded down $0.65 during trading hours on Friday, hitting $28.84. 2,039,689 shares of the company were exchanged, compared to its average volume of 4,094,359. The company has a 50 day moving average of $29.51 and a two-hundred day moving average of $27.76. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 3.51. Gen Digital Inc. has a 52-week low of $22.74 and a 52-week high of $31.72. The firm has a market cap of $17.76 billion, a price-to-earnings ratio of 27.74, a PEG ratio of 1.09 and a beta of 1.01.

Gen Digital (NASDAQ:GEN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.01. Gen Digital had a return on equity of 59.38% and a net margin of 16.34%. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $999.48 million. During the same quarter in the prior year, the business earned $0.53 EPS. Gen Digital's revenue was up 4.4% on a year-over-year basis. Equities research analysts anticipate that Gen Digital Inc. will post 2.05 earnings per share for the current year.

Gen Digital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Monday, May 19th were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Monday, May 19th. Gen Digital's dividend payout ratio (DPR) is presently 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.