Gen Digital Inc. (NASDAQ:GEN) Stock Position Raised by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. raised its stake in Gen Digital Inc. (NASDAQ:GEN - Free Report) by 132.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 564,391 shares of the company's stock after purchasing an additional 321,186 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.09% of Gen Digital worth $14,979,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in GEN. Cornerstone Wealth Group LLC purchased a new position in shares of Gen Digital in the first quarter valued at $377,000. Asset Management One Co. Ltd. lifted its holdings in Gen Digital by 5.8% in the 1st quarter. Asset Management One Co. Ltd. now owns 495,888 shares of the company's stock worth $13,161,000 after buying an additional 27,129 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position in Gen Digital by 1.7% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 53,783 shares of the company's stock valued at $1,427,000 after buying an additional 882 shares during the last quarter. Nilsine Partners LLC acquired a new stake in shares of Gen Digital during the first quarter valued at about $2,375,000. Finally, Blue Trust Inc. grew its stake in shares of Gen Digital by 39.0% during the first quarter. Blue Trust Inc. now owns 15,043 shares of the company's stock valued at $399,000 after acquiring an additional 4,220 shares in the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Royal Bank Of Canada increased their target price on Gen Digital from $28.00 to $30.00 and gave the company a "sector perform" rating in a research note on Wednesday, May 7th. Wall Street Zen raised shares of Gen Digital from a "buy" rating to a "strong-buy" rating in a report on Friday. Evercore ISI assumed coverage on shares of Gen Digital in a report on Tuesday. They set an "outperform" rating and a $35.00 price objective for the company. Finally, Morgan Stanley decreased their target price on Gen Digital from $27.00 to $25.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Two equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $30.00.

Gen Digital Stock Performance

NASDAQ GEN traded up $0.40 during trading hours on Tuesday, reaching $29.80. The company's stock had a trading volume of 965,427 shares, compared to its average volume of 3,745,164. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 3.51. The business has a 50-day simple moving average of $28.10 and a 200 day simple moving average of $27.37. Gen Digital Inc. has a 52 week low of $22.74 and a 52 week high of $31.72. The stock has a market cap of $18.48 billion, a PE ratio of 28.64, a PEG ratio of 1.09 and a beta of 1.01.

Gen Digital (NASDAQ:GEN - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.01. The company had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $999.48 million. Gen Digital had a return on equity of 59.38% and a net margin of 16.34%. The business's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 earnings per share. Equities research analysts predict that Gen Digital Inc. will post 2.05 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 11th. Stockholders of record on Monday, May 19th were issued a $0.125 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.50 annualized dividend and a dividend yield of 1.68%. Gen Digital's dividend payout ratio (DPR) is 48.08%.

Insiders Place Their Bets

In other Gen Digital news, Director Nora Denzel sold 31,646 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $28.76, for a total value of $910,138.96. Following the sale, the director directly owned 34,860 shares in the company, valued at approximately $1,002,573.60. The trade was a 47.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.20% of the stock is owned by corporate insiders.

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.