KLP Kapitalforvaltning AS Reduces Stake in Gen Digital Inc. $GEN

Key Points

• KLP Kapitalforvaltning AS significantly reduced its stake in Gen Digital Inc. by 39.7% in the second quarter, selling 289,900 shares and now holding about 0.07% of the company.
• Gen Digital recently reported earnings of $0.64 per share, surpassing analyst expectations, with revenue of $1.26 billion for the quarter, a 30.3% increase year-over-year.
• Analysts have set a consensus price target of $35.71 for Gen Digital, reflecting multiple ratings including "buy" and "hold" from various firms.

KLP Kapitalforvaltning AS reduced its stake in Gen Digital Inc. (NASDAQ:GEN - Free Report) by 39.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 439,769 shares of the company's stock after selling 289,900 shares during the quarter. KLP Kapitalforvaltning AS owned approximately 0.07% of Gen Digital worth $12,929,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. SteelPeak Wealth LLC purchased a new stake in Gen Digital in the 2nd quarter valued at $2,734,000. JSF Financial LLC grew its holdings in Gen Digital by 7.3% in the 2nd quarter. JSF Financial LLC now owns 40,173 shares of the company's stock valued at $1,181,000 after buying an additional 2,741 shares in the last quarter. QRG Capital Management Inc. grew its holdings in Gen Digital by 48.0% in the 2nd quarter. QRG Capital Management Inc. now owns 126,307 shares of the company's stock valued at $3,713,000 after buying an additional 40,938 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Gen Digital by 17.0% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 104,221 shares of the company's stock valued at $3,064,000 after buying an additional 15,126 shares in the last quarter. Finally, J. Safra Sarasin Holding AG grew its holdings in Gen Digital by 81.0% in the 2nd quarter. J. Safra Sarasin Holding AG now owns 94,693 shares of the company's stock valued at $2,784,000 after buying an additional 42,383 shares in the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Gen Digital Stock Performance

Shares of Gen Digital stock opened at $27.24 on Thursday. The business has a 50-day moving average of $29.57 and a 200 day moving average of $28.48. Gen Digital Inc. has a 12 month low of $22.74 and a 12 month high of $32.22. The stock has a market capitalization of $16.78 billion, a price-to-earnings ratio of 28.08, a price-to-earnings-growth ratio of 0.92 and a beta of 0.94. The company has a debt-to-equity ratio of 3.63, a current ratio of 0.50 and a quick ratio of 0.50.

Gen Digital (NASDAQ:GEN - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.04. Gen Digital had a return on equity of 57.99% and a net margin of 14.12%.The company had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same period last year, the business posted $0.53 EPS. Gen Digital's revenue for the quarter was up 30.3% on a year-over-year basis. Gen Digital has set its Q2 2026 guidance at 0.600-0.620 EPS. FY 2026 guidance at 2.490-2.560 EPS. As a group, sell-side analysts forecast that Gen Digital Inc. will post 2.05 earnings per share for the current year.

Gen Digital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Monday, August 18th were given a $0.125 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $0.50 dividend on an annualized basis and a yield of 1.8%. Gen Digital's dividend payout ratio (DPR) is currently 51.55%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. B. Riley assumed coverage on Gen Digital in a report on Monday, July 14th. They set a "buy" rating and a $46.00 price target for the company. Jefferies Financial Group assumed coverage on Gen Digital in a report on Friday, October 3rd. They set a "hold" rating and a $31.00 price target for the company. Wells Fargo & Company increased their price target on Gen Digital from $37.00 to $40.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Royal Bank Of Canada increased their price target on Gen Digital from $32.00 to $33.00 and gave the stock a "sector perform" rating in a report on Friday, August 8th. Finally, Wall Street Zen cut Gen Digital from a "buy" rating to a "hold" rating in a report on Saturday, October 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $35.71.

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.

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