Gen Digital Inc. (NASDAQ:GEN) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas boosted its position in Gen Digital Inc. (NASDAQ:GEN - Free Report) by 1,136.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 117,152 shares of the company's stock after acquiring an additional 107,677 shares during the period. Teacher Retirement System of Texas' holdings in Gen Digital were worth $3,109,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mather Group LLC. boosted its holdings in shares of Gen Digital by 26.6% in the 1st quarter. Mather Group LLC. now owns 3,730 shares of the company's stock valued at $99,000 after purchasing an additional 783 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Gen Digital by 132.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 599,821 shares of the company's stock valued at $16,039,000 after acquiring an additional 341,533 shares in the last quarter. Cornerstone Wealth Group LLC acquired a new position in shares of Gen Digital during the 1st quarter valued at $377,000. Wellington Management Group LLP increased its stake in Gen Digital by 98.8% during the 4th 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, Exchange Traded Concepts LLC increased its stake in Gen Digital by 52.4% during the 1st quarter. Exchange Traded Concepts LLC now owns 11,146 shares of the company's stock worth $296,000 after buying an additional 3,830 shares during the period. 81.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on GEN shares. Royal Bank Of Canada boosted their target price on shares of Gen Digital from $28.00 to $30.00 and gave the stock a "sector perform" rating in a research report on Wednesday, May 7th. Morgan Stanley dropped their target price on shares of 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 downgraded shares of Gen Digital from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 5th. Finally, Evercore ISI started coverage on shares of Gen Digital in a research report on Tuesday, July 1st. They issued an "outperform" rating and a $35.00 target price for the company. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $30.00.

Insider Buying and Selling

In other news, Director Nora Denzel sold 31,646 shares of the company'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 approximately $1,002,573.60. This represents a 47.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 12.20% of the company's stock.

Gen Digital Stock Performance

Shares of NASDAQ:GEN traded down $0.99 during trading on Friday, reaching $28.69. 2,745,562 shares of the company's stock traded hands, compared to its average volume of 3,744,202. The company has a debt-to-equity ratio of 3.51, a current ratio of 0.51 and a quick ratio of 0.51. Gen Digital Inc. has a 12 month low of $22.74 and a 12 month high of $31.72. The company has a 50 day moving average of $28.87 and a 200-day moving average of $27.48. The stock has a market capitalization of $17.79 billion, a P/E ratio of 27.59, a price-to-earnings-growth ratio of 1.13 and a beta of 1.01.

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

Gen Digital Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend was Monday, May 19th. Gen Digital's dividend payout ratio (DPR) is 48.08%.

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.