Brown Advisory Inc. Sells 3,171,796 Shares of Gen Digital Inc. (NASDAQ:GEN)

Brown Advisory Inc. reduced its stake in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 98.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,459 shares of the company's stock after selling 3,171,796 shares during the period. Brown Advisory Inc.'s holdings in Gen Digital were worth $1,313,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Gen Digital during the fourth quarter worth $14,367,000. QSM Asset Management Ltd acquired a new stake in shares of Gen Digital during the fourth quarter worth $5,373,000. Brighton Jones LLC increased 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 acquiring an additional 1,299 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Gen Digital by 98.8% during 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. grew its stake in Gen Digital by 41.7% in the first quarter. Kera Capital Partners Inc. now owns 11,777 shares of the company's stock valued at $313,000 after purchasing an additional 3,466 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company's stock.

Insider Transactions at Gen Digital

In related news, Director Nora Denzel sold 31,646 shares of the company'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 owned 34,860 shares of the company's stock, valued at $1,002,573.60. The trade was a 47.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 12.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Wall Street Zen downgraded Gen Digital from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 5th. Barclays raised their price target on shares of Gen Digital from $30.00 to $32.00 and gave the company an "equal weight" rating in a research report on Monday. Evercore ISI started coverage on shares of Gen Digital in a report on Tuesday, July 1st. They issued an "outperform" rating and a $35.00 price objective for the company. B. Riley began coverage on shares of Gen Digital in a report on Monday. They set a "buy" rating and a $46.00 price objective for the company. Finally, Royal Bank Of Canada raised their price target on Gen Digital from $28.00 to $30.00 and gave the stock a "sector perform" rating in a research note on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $33.60.

Gen Digital Stock Up 3.9%

NASDAQ GEN traded up $1.11 on Monday, hitting $29.80. 3,817,154 shares of the stock were exchanged, compared to its average volume of 4,229,213. Gen Digital Inc. has a fifty-two week low of $22.74 and a fifty-two week high of $31.72. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 3.51. The company has a market cap of $18.48 billion, a PE ratio of 28.65, a PEG ratio of 1.07 and a beta of 1.01. The company has a 50-day moving average price of $28.92 and a 200-day moving average price of $27.48.

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

Gen Digital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Monday, May 19th were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.68%. Gen Digital's dividend payout ratio is currently 48.08%.

Gen Digital 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.