Modern Wealth Management LLC Takes $423,000 Position in Gen Digital Inc. $GEN

Key Points

• Modern Wealth Management LLC has acquired a new stake in Gen Digital Inc., purchasing 15,921 shares valued at approximately $423,000 during the first quarter.
• Several institutional investors have recently increased their holdings in Gen Digital, resulting in a total of 81.38% of the stock being owned by institutional investors.
• Gen Digital reported revenue of $1.26 billion for the quarter, surpassing analyst estimates and showing a 30.3% year-over-year growth.

Modern Wealth Management LLC purchased a new stake in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 15,921 shares of the company's stock, valued at approximately $423,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Strs Ohio bought a new stake in shares of Gen Digital during the first quarter valued at about $1,505,000. Geneos Wealth Management Inc. increased its position in shares of Gen Digital by 221.5% during the first quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company's stock valued at $46,000 after buying an additional 1,183 shares during the period. Focus Partners Wealth increased its position in shares of Gen Digital by 9.7% in the first quarter. Focus Partners Wealth now owns 22,347 shares of the company's stock worth $593,000 after purchasing an additional 1,980 shares during the last quarter. Ilmarinen Mutual Pension Insurance Co bought a new position in shares of Gen Digital in the first quarter worth approximately $2,389,000. Finally, Plato Investment Management Ltd increased its position in shares of Gen Digital by 99.8% in the first quarter. Plato Investment Management Ltd now owns 34,864 shares of the company's stock worth $935,000 after purchasing an additional 17,414 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GEN. Wells Fargo & Company upped their price objective on shares of Gen Digital from $37.00 to $40.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. 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. B. Riley began 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 on the stock. Barclays upped their price objective on shares of Gen Digital from $32.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Friday, August 8th. Finally, Evercore ISI began coverage on shares of Gen Digital in a research report on Tuesday, July 1st. They issued an "outperform" rating and a $35.00 price objective on the stock. One 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $36.50.

Gen Digital Stock Down 1.8%

Shares of GEN opened at $29.14 on Monday. The firm has a market cap of $17.95 billion, a P/E ratio of 30.04, a P/E/G ratio of 0.98 and a beta of 0.99. The stock has a 50 day simple moving average of $30.18 and a two-hundred day simple moving average of $28.36. 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 Inc. has a 1 year low of $22.74 and a 1 year high of $32.22.

Gen Digital (NASDAQ:GEN - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.04. The business had revenue of $1.26 billion during 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%.Gen Digital's revenue for the quarter was up 30.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 earnings per share. 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, analysts forecast that Gen Digital Inc. will post 2.05 earnings per share for the current fiscal year.

Gen Digital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Monday, August 18th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, August 18th. Gen Digital's dividend payout ratio is 51.55%.

Gen Digital Company 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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