Gen Digital Inc. (NASDAQ:GEN) Stock Holdings Lessened by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its stake in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 3.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 513,575 shares of the company's stock after selling 18,704 shares during the period. New York State Teachers Retirement System owned about 0.08% of Gen Digital worth $13,630,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of GEN. Tsfg LLC acquired a new position in shares of Gen Digital in the first quarter worth about $52,000. Curat Global LLC acquired a new position in Gen Digital in the 1st quarter worth approximately $154,000. Sagespring Wealth Partners LLC purchased a new position in Gen Digital during the 1st quarter worth approximately $212,000. Fort Washington Investment Advisors Inc. OH acquired a new stake in Gen Digital during the 1st quarter valued at $225,000. Finally, Merit Financial Group LLC purchased a new stake in shares of Gen Digital in the first quarter valued at $273,000. 81.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GEN has been the topic of a number of research analyst reports. Evercore ISI initiated coverage on Gen Digital in a report on Tuesday. They set an "outperform" rating and a $35.00 price target on the stock. Morgan Stanley decreased their price objective 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. Wall Street Zen upgraded Gen Digital from a "buy" rating to a "strong-buy" rating in a report on Friday, June 27th. Finally, Royal Bank Of Canada raised their price target on shares of Gen Digital from $28.00 to $30.00 and gave the stock a "sector perform" rating in a report on Wednesday, May 7th. Two analysts have rated the stock with a hold rating, one has issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $30.00.

Gen Digital Trading Up 2.2%

NASDAQ GEN opened at $30.48 on Friday. Gen Digital Inc. has a 1-year low of $22.74 and a 1-year high of $31.72. 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 company has a market capitalization of $18.90 billion, a PE ratio of 29.31, a price-to-earnings-growth ratio of 1.11 and a beta of 1.01. The firm's fifty day simple moving average is $28.42 and its 200-day simple moving average is $27.41.

Gen Digital (NASDAQ:GEN - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.01. Gen Digital had a return on equity of 59.38% and a net margin of 16.34%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $999.48 million. During the same quarter in the previous year, the company posted $0.53 earnings per share. The business's quarterly revenue was up 4.4% compared to the same quarter last year. As a group, sell-side 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 disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Investors 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 dividend on an annualized basis and a yield of 1.64%. Gen Digital's dividend payout ratio is currently 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 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 completion of the sale, the director directly 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 at this hyperlink. Insiders own 12.20% of the company's stock.

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.

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