MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Lowers Stock Position in Gen Digital Inc. $GEN

Key Points

• MEAG MUNICH ERGO Kapitalanlagegesellschaft reduced its stake in Gen Digital Inc. by 46.1%, ending up with 276,170 shares worth $8.12 million after selling 236,360 shares in the second quarter.
• Institutional ownership of Gen Digital is significant, with major players like Vanguard and Boston Partners increasing their positions during the first quarter of 2023.
• Gen Digital reported earnings of $0.64 per share for the latest quarter, surpassing analysts' expectations and marking a 30.3% year-over-year revenue growth of $1.26 billion.

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH trimmed its holdings in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 46.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 276,170 shares of the company's stock after selling 236,360 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Gen Digital were worth $8,119,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Gen Digital by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 69,690,768 shares of the company's stock worth $1,849,593,000 after purchasing an additional 2,513,464 shares during the period. Ameriprise Financial Inc. boosted its position in Gen Digital by 3.8% during the 1st quarter. Ameriprise Financial Inc. now owns 21,067,048 shares of the company's stock worth $559,126,000 after purchasing an additional 768,652 shares during the period. Boston Partners boosted its position in Gen Digital by 37.3% during the 1st quarter. Boston Partners now owns 13,358,167 shares of the company's stock worth $354,456,000 after purchasing an additional 3,631,052 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Gen Digital by 43.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,270,615 shares of the company's stock worth $325,662,000 after buying an additional 3,724,211 shares in the last quarter. Finally, Nuveen LLC acquired a new position in Gen Digital in the 1st quarter worth $299,562,000. 81.38% of the stock is owned by hedge funds and other institutional investors.

Gen Digital Price Performance

Shares of NASDAQ:GEN opened at $29.09 on Thursday. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 3.63. Gen Digital Inc. has a fifty-two week low of $22.74 and a fifty-two week high of $32.22. The firm has a 50-day simple moving average of $30.03 and a 200 day simple moving average of $28.42. The company has a market cap of $17.92 billion, a PE ratio of 29.99, a P/E/G ratio of 0.98 and a beta of 0.99.

Gen Digital (NASDAQ:GEN - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.60 by $0.04. Gen Digital had a net margin of 14.12% and a return on equity of 57.99%. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the firm earned $0.53 EPS. The company'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. On average, sell-side analysts anticipate that Gen Digital Inc. will post 2.05 EPS for the current year.

Gen Digital Dividend Announcement

The company also recently announced 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 was Monday, August 18th. This represents a $0.50 annualized dividend and a yield of 1.7%. Gen Digital's dividend payout ratio is 51.55%.

Wall Street Analyst Weigh In

A number of brokerages have commented on GEN. Evercore ISI began coverage on shares of Gen Digital in a report on Tuesday, July 1st. They issued an "outperform" rating and a $35.00 price objective on the stock. Morgan Stanley boosted their price objective on shares of Gen Digital from $25.00 to $32.00 and gave the stock an "equal weight" rating in a report on Tuesday, September 2nd. Wall Street Zen lowered shares of Gen Digital from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 5th. Barclays boosted their price objective on shares of Gen Digital from $32.00 to $33.00 and gave the stock an "equal weight" rating in a report on Friday, August 8th. Finally, Wells Fargo & Company boosted their price objective on shares of Gen Digital from $37.00 to $40.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $36.50.

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.

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