Lbp Am Sa Decreases Stock Holdings in Gen Digital Inc. (NASDAQ:GEN)

LBP AM SA decreased its position in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 3.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 639,268 shares of the company's stock after selling 23,142 shares during the period. LBP AM SA owned about 0.10% of Gen Digital worth $16,966,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings in Gen Digital by 2.3% in the first quarter. Bank of New York Mellon Corp now owns 5,184,489 shares of the company's stock valued at $137,596,000 after buying an additional 117,013 shares during the period. Penserra Capital Management LLC boosted its holdings in Gen Digital by 33.0% during the first quarter. Penserra Capital Management LLC now owns 2,972,160 shares of the company's stock worth $78,880,000 after buying an additional 736,809 shares during the last quarter. KBC Group NV boosted its holdings in Gen Digital by 32.7% during the first quarter. KBC Group NV now owns 2,769,361 shares of the company's stock worth $73,499,000 after buying an additional 682,530 shares during the last quarter. Achmea Investment Management B.V. grew its position in shares of 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 worth $38,605,000 after buying an additional 417,206 shares during the period. Finally, Rhumbline Advisers increased its stake in shares of Gen Digital by 6.6% in the 1st quarter. Rhumbline Advisers now owns 1,116,301 shares of the company's stock valued at $29,627,000 after acquiring an additional 69,558 shares during the last quarter. Institutional investors own 81.38% of the company's stock.

Insider Activity at Gen Digital

In other Gen Digital 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 transaction, the director directly owned 34,860 shares in the company, 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 can be accessed through this link. Company insiders own 12.20% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on GEN shares. Morgan Stanley reduced their price objective on shares of Gen Digital from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Evercore ISI assumed coverage on shares of Gen Digital in a research report on Tuesday, July 1st. They set an "outperform" rating and a $35.00 price target on the stock. Wall Street Zen cut shares of Gen Digital from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 5th. Finally, 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. 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. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $30.00.

Gen Digital Stock Down 3.3%

NASDAQ GEN traded down $0.99 during trading hours on Friday, hitting $28.69. 2,745,856 shares of the company traded hands, compared to its average volume of 3,744,203. The company has a debt-to-equity ratio of 3.51, a quick ratio of 0.51 and a current ratio of 0.51. The business's 50-day moving average is $28.87 and its 200-day moving average is $27.48. The stock has a market capitalization of $17.79 billion, a price-to-earnings ratio of 27.59, a P/E/G ratio of 1.13 and a beta of 1.01. Gen Digital Inc. has a twelve month low of $22.74 and a twelve month high of $31.72.

Gen Digital (NASDAQ:GEN - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.59 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.01. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $999.48 million. Gen Digital had a net margin of 16.34% and a return on equity of 59.38%. The firm's revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.53 earnings per share. Sell-side analysts anticipate that Gen Digital Inc. will post 2.05 earnings per share for the current year.

Gen Digital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Monday, May 19th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.50 annualized dividend and a dividend yield of 1.74%. Gen Digital's dividend payout ratio is 48.08%.

About Gen Digital

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.