KBC Group NV Increases Position in Gen Digital Inc. (NASDAQ:GEN)

KBC Group NV increased its stake in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 32.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,769,361 shares of the company's stock after buying an additional 682,530 shares during the quarter. KBC Group NV owned about 0.45% of Gen Digital worth $73,499,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Achmea Investment Management B.V. boosted its holdings in Gen Digital by 40.2% in 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 during the last quarter. Rhumbline Advisers boosted its holdings in Gen Digital by 6.6% in 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 during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Gen Digital by 132.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 599,821 shares of the company's stock valued at $16,039,000 after purchasing an additional 341,533 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in Gen Digital by 132.1% in the first quarter. Robeco Institutional Asset Management B.V. now owns 564,391 shares of the company's stock valued at $14,979,000 after purchasing an additional 321,186 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Gen Digital in the fourth quarter valued at $14,367,000. 81.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Royal Bank Of Canada upped their price target on shares of Gen Digital from $28.00 to $30.00 and gave the company a "sector perform" rating in a report on Wednesday, May 7th. Morgan Stanley lowered 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 report on Wednesday, April 16th. Finally, Wall Street Zen raised shares of Gen Digital from a "buy" rating to a "strong-buy" rating in a report on Friday. Two analysts have rated the stock with a hold rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $27.50.

Insider Transactions 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 now directly owns 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. Corporate insiders own 12.20% of the company's stock.

Gen Digital Trading Down 0.6%

GEN stock opened at $29.28 on Friday. The company's 50-day simple moving average is $27.98 and its 200-day simple moving average is $27.39. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 3.51. Gen Digital Inc. has a 52-week low of $22.74 and a 52-week high of $31.72. The firm has a market cap of $18.16 billion, a P/E ratio of 28.15, a PEG ratio of 1.09 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 earnings per share (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 business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $999.48 million. During the same period in the prior year, the company posted $0.53 EPS. The company's revenue for the quarter was up 4.4% on a year-over-year basis. As a group, equities analysts forecast that Gen Digital Inc. will post 2.05 EPS for the current fiscal year.

Gen Digital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Monday, May 19th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.71%. The ex-dividend date was Monday, May 19th. Gen Digital's payout ratio is currently 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.

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