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Los Angeles Capital Management LLC Decreases Position in Gen Digital Inc. (NASDAQ:GEN)

Gen Digital logo with Business Services background

Los Angeles Capital Management LLC trimmed its holdings in Gen Digital Inc. (NASDAQ:GEN - Free Report) by 6.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 304,278 shares of the company's stock after selling 20,249 shares during the period. Los Angeles Capital Management LLC's holdings in Gen Digital were worth $8,076,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bank of New York Mellon Corp raised its position in shares of Gen Digital by 2.3% in the first quarter. Bank of New York Mellon Corp now owns 5,184,489 shares of the company's stock valued at $137,596,000 after buying an additional 117,013 shares in the last quarter. Penserra Capital Management LLC raised its position in Gen Digital by 33.0% during the first quarter. Penserra Capital Management LLC now owns 2,972,160 shares of the company's stock valued at $78,880,000 after purchasing an additional 736,809 shares in the last quarter. KBC Group NV raised its position in Gen Digital by 32.7% during the first quarter. KBC Group NV now owns 2,769,361 shares of the company's stock valued at $73,499,000 after purchasing an additional 682,530 shares in the last quarter. Achmea Investment Management B.V. raised its position in Gen Digital by 40.2% during the first quarter. Achmea Investment Management B.V. now owns 1,454,610 shares of the company's stock valued at $38,605,000 after purchasing an additional 417,206 shares in the last quarter. Finally, Rhumbline Advisers raised its position in Gen Digital by 6.6% during the first quarter. Rhumbline Advisers now owns 1,116,301 shares of the company's stock valued at $29,627,000 after purchasing an additional 69,558 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Gen Digital

In other Gen Digital 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 completion of the sale, the director directly owned 34,860 shares of the company's stock, valued at approximately $1,002,573.60. This represents a 47.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 12.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Barclays boosted their target price on shares of Gen Digital from $30.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Monday, July 14th. B. Riley started coverage on shares of Gen Digital in a research note on Monday, July 14th. They issued a "buy" rating and a $46.00 price objective on the stock. Wall Street Zen cut shares of Gen Digital from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th. Royal Bank Of Canada boosted their price objective on shares of Gen Digital from $28.00 to $30.00 and gave the stock a "sector perform" rating in a research note on Wednesday, May 7th. Finally, Morgan Stanley cut their price target on shares of Gen Digital from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Three investment analysts have rated the stock with a hold rating, three 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 a consensus rating of "Moderate Buy" and a consensus price target of $33.60.

View Our Latest Report on GEN

Gen Digital Stock Down 0.3%

Shares of GEN traded down $0.10 on Friday, reaching $30.42. The company's stock had a trading volume of 297,550 shares, compared to its average volume of 4,139,068. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 3.51. Gen Digital Inc. has a twelve month low of $22.74 and a twelve month high of $31.72. The stock has a market capitalization of $18.87 billion, a PE ratio of 29.28, a PEG ratio of 1.12 and a beta of 1.01. The firm has a fifty day moving average of $29.32 and a 200-day moving average of $27.66.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.01. Gen Digital had a net margin of 16.34% and a return on equity of 59.38%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $999.48 million. During the same period in the prior year, the firm posted $0.53 EPS. The firm's quarterly revenue was up 4.4% compared to the same quarter last year. Equities analysts predict that Gen Digital Inc. will post 2.05 EPS for the current year.

Gen Digital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Monday, May 19th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend was Monday, May 19th. Gen Digital's payout ratio is 48.08%.

Gen Digital Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Gen Digital (NASDAQ:GEN)

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