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

Teacher Retirement System of Texas raised its holdings in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 1,136.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 117,152 shares of the company's stock after purchasing 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.

Several other large investors have also modified their holdings of the business. KBC Group NV boosted its stake in Gen Digital by 32.7% in the first quarter. KBC Group NV now owns 2,769,361 shares of the company's stock valued at $73,499,000 after acquiring an additional 682,530 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Gen Digital during the 4th quarter worth $14,367,000. Achmea Investment Management B.V. increased its position in Gen Digital by 40.2% during the 1st quarter. Achmea Investment Management B.V. now owns 1,454,610 shares of the company's stock valued at $38,605,000 after buying an additional 417,206 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Gen Digital by 132.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 599,821 shares of the company's stock worth $16,039,000 after acquiring an additional 341,533 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of Gen Digital by 132.1% during the first quarter. Robeco Institutional Asset Management B.V. now owns 564,391 shares of the company's stock worth $14,979,000 after acquiring an additional 321,186 shares during the last quarter. Institutional investors own 81.38% of the company's stock.

Insider Activity at Gen Digital

In related news, Director Nora Denzel sold 31,646 shares of the firm'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 transaction, the director directly owned 34,860 shares of the company's stock, valued at approximately $1,002,573.60. This trade represents a 47.58% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 12.20% of the stock is owned by corporate insiders.

Gen Digital Stock Performance

Shares of NASDAQ:GEN traded down $0.48 during trading on Thursday, hitting $29.68. 2,497,767 shares of the stock traded hands, compared to its average volume of 3,748,199. 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 fifty day moving average price of $28.79 and a two-hundred day moving average price of $27.47. Gen Digital Inc. has a 52-week low of $22.74 and a 52-week high of $31.72. The company has a market cap of $18.41 billion, a price-to-earnings ratio of 28.54, a P/E/G ratio of 1.13 and a beta of 1.01.

Gen Digital (NASDAQ:GEN - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.01. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $999.48 million. Gen Digital had a return on equity of 59.38% and a net margin of 16.34%. Gen Digital'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 business earned $0.53 EPS. As a group, equities analysts predict that Gen Digital Inc. will post 2.05 EPS for the current year.

Gen Digital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Monday, May 19th were given a $0.125 dividend. The ex-dividend date 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%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Evercore ISI began coverage on shares of Gen Digital in a research note on Tuesday, July 1st. They set an "outperform" rating and a $35.00 price target on the stock. Royal Bank Of Canada raised their price objective 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. Wall Street Zen downgraded Gen Digital from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 5th. Finally, Morgan Stanley reduced their price target 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. Two research analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $30.00.

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.