LSV Asset Management Has $217.84 Million Stake in Gen Digital Inc. (NASDAQ:GEN)

Key Points

• LSV Asset Management increased its stake in Gen Digital Inc. by 1.5% in the first quarter, bringing its total ownership to approximately 1.33% valued at $217.8 million.
• Gen Digital has received mixed ratings from analysts, with three buy ratings, three hold ratings, and two strong buy ratings, creating a consensus average rating of "Moderate Buy" with a price target of $33.60.
• The company declared a quarterly dividend of $0.125 per share, resulting in an annual yield of 1.7%, with a payout ratio of 48.08%.

LSV Asset Management grew its stake in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 1.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,208,034 shares of the company's stock after purchasing an additional 119,354 shares during the period. LSV Asset Management owned approximately 1.33% of Gen Digital worth $217,841,000 as of its most recent SEC filing.

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

Insider Activity

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 stock was sold at an average price of $28.76, for a total transaction of $910,138.96. Following the completion of the sale, the director owned 34,860 shares of the company's stock, valued at $1,002,573.60. This represents a 47.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 9.30% of the company's stock.

Gen Digital Price Performance

GEN traded up $0.19 on Monday, reaching $28.98. The company had a trading volume of 3,196,790 shares, compared to its average volume of 3,070,808. Gen Digital Inc. has a one year low of $22.74 and a one year high of $31.72. The company has a market capitalization of $17.84 billion, a P/E ratio of 27.87, a PEG ratio of 1.05 and a beta of 1.00. The company has a fifty day moving average of $29.54 and a 200-day moving average of $27.78. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 3.51.

Gen Digital (NASDAQ:GEN - Get Free Report) last posted its quarterly 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 firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $999.48 million. During the same quarter in the previous year, the business posted $0.53 earnings per share. The firm's quarterly revenue was up 4.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Gen Digital Inc. will post 2.05 earnings per share for the current year.

Gen Digital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Monday, May 19th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, May 19th. Gen Digital's payout ratio is presently 48.08%.

Wall Street Analysts Forecast Growth

GEN has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Gen Digital from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 5th. Evercore ISI assumed coverage on Gen Digital in a research report on Tuesday, July 1st. They set an "outperform" rating and a $35.00 price objective on the stock. Royal Bank Of Canada upped their price objective on Gen Digital from $28.00 to $30.00 and gave the stock a "sector perform" rating in a research report on Wednesday, May 7th. Barclays boosted their target price on Gen Digital from $30.00 to $32.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. Finally, Morgan Stanley dropped their price target on Gen Digital from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $33.60.

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.