Kovitz Investment Group Partners LLC Grows Stock Position in Gen Digital Inc. $GEN

Key Points

• Kovitz Investment Group Partners LLC increased its stake in Gen Digital Inc. by 585.7% in the first quarter, now owning approximately $10.02 million worth of shares.
• Analysts have raised their price targets for Gen Digital, with Barclays and Royal Bank Of Canada setting a new target of $33.00, while Wells Fargo increased theirs to $40.00.
• Gen Digital announced a quarterly dividend of $0.125 per share, with a yield of 1.6%, reflecting a payout ratio of 51.55%.

Kovitz Investment Group Partners LLC lifted its holdings in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 585.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 377,464 shares of the company's stock after buying an additional 322,420 shares during the period. Kovitz Investment Group Partners LLC owned approximately 0.06% of Gen Digital worth $10,018,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Catalyst Capital Advisors LLC grew its stake in shares of Gen Digital by 117.6% in the 1st quarter. Catalyst Capital Advisors LLC now owns 1,580 shares of the company's stock valued at $42,000 after purchasing an additional 854 shares during the last quarter. Tsfg LLC acquired a new stake in shares of Gen Digital during the first quarter worth $52,000. Mather Group LLC. grew its position in 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 buying an additional 783 shares during the last quarter. Curat Global LLC acquired a new position in Gen Digital in the 1st quarter valued at $154,000. Finally, Sagespring Wealth Partners LLC purchased a new position in Gen Digital during the 1st quarter worth $212,000. Hedge funds and other institutional investors own 81.38% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GEN. B. Riley initiated coverage on shares of Gen Digital in a research report on Monday, July 14th. They issued a "buy" rating and a $46.00 price objective for the company. Royal Bank Of Canada lifted their price target on Gen Digital from $32.00 to $33.00 and gave the company a "sector perform" rating in a research note on Friday, August 8th. Barclays upped their price objective on Gen Digital from $32.00 to $33.00 and gave the stock an "equal weight" rating in a report on Friday, August 8th. Wells Fargo & Company raised their target price on Gen Digital from $37.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Finally, Evercore ISI initiated coverage on shares of Gen Digital in a research report on Tuesday, July 1st. They set an "outperform" rating and a $35.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $35.33.

Gen Digital Price Performance

Gen Digital stock traded down $0.1850 during mid-day trading on Wednesday, hitting $31.3150. 1,354,526 shares of the company were exchanged, compared to its average volume of 4,131,492. Gen Digital Inc. has a 12-month low of $22.74 and a 12-month high of $32.22. The company has a market capitalization of $19.29 billion, a P/E ratio of 32.29, a PEG ratio of 1.05 and a beta of 1.00. The business's 50 day simple moving average is $29.98 and its two-hundred day simple moving average is $28.03. 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 posted its quarterly earnings data on Thursday, August 7th. The company reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.04. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.19 billion. Gen Digital had a return on equity of 57.99% and a net margin of 14.12%.During the same quarter last year, the company earned $0.53 earnings per share. The business's revenue for the quarter was up 30.3% compared to the same quarter last year. Gen Digital has set its Q2 2026 guidance at 0.600-0.620 EPS. FY 2026 guidance at 2.490-2.560 EPS. Analysts forecast that Gen Digital Inc. will post 2.05 earnings per share for the current fiscal year.

Gen Digital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 18th will be given a dividend of $0.125 per share. The ex-dividend date is Monday, August 18th. This represents a $0.50 dividend on an annualized basis and a yield of 1.6%. Gen Digital's dividend payout ratio (DPR) is 51.55%.

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.