National Pension Service Raises Stock Holdings in Gen Digital Inc. $GEN

Key Points

• National Pension Service increased its Gen Digital stake by 254.6% in the second quarter, bringing its holdings to 257,971 shares worth approximately $6.4 million. Institutional investors collectively own 81.38% of the company.
• Gen Digital exceeded quarterly expectations, reporting $0.71 in adjusted EPS and $1.34 billion in revenue, with revenue up 6.3% year over year. Analysts maintain a consensus “Hold” rating with an average price target of $31.60.
• The company pays a quarterly dividend of $0.125, equivalent to a $0.50 annual dividend and 1.7% yield. Meanwhile, insiders sold 558,508 shares worth approximately $16.4 million over the past 90 days.

National Pension Service increased its holdings in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 254.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 257,971 shares of the company's stock after acquiring an additional 185,219 shares during the quarter. National Pension Service's holdings in Gen Digital were worth $6,421,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Goldman Sachs Group Inc. increased its position in shares of Gen Digital by 1.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,703,712 shares of the company's stock valued at $71,757,000 after purchasing an additional 28,522 shares during the last quarter. Great Lakes Advisors LLC purchased a new position in shares of Gen Digital in the 1st quarter worth about $205,000. Woodline Partners LP grew its position in Gen Digital by 37.8% during the first quarter. Woodline Partners LP now owns 27,590 shares of the company's stock valued at $732,000 after buying an additional 7,562 shares during the period. Focus Partners Wealth grew its position in Gen Digital by 9.7% during the first quarter. Focus Partners Wealth now owns 22,347 shares of the company's stock valued at $593,000 after buying an additional 1,980 shares during the period. Finally, Geneos Wealth Management Inc. increased its holdings in Gen Digital by 221.5% during the first quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company's stock worth $46,000 after buying an additional 1,183 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on GEN shares. Argus raised shares of Gen Digital to a "strong-buy" rating in a research report on Friday, May 22nd. Weiss Ratings raised shares of Gen Digital from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, July 15th. Wells Fargo & Company raised their price target on shares of Gen Digital from $22.00 to $28.00 and gave the stock an "equal weight" rating in a research note on Friday, August 7th. Royal Bank Of Canada lifted their price target on shares of Gen Digital from $27.00 to $30.00 and gave the stock a "sector perform" rating in a report on Friday, August 7th. Finally, Wall Street Zen downgraded Gen Digital from a "buy" rating to a "hold" rating in a research note on Sunday, August 16th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $31.60.

Gen Digital Trading Up 1.0%

Shares of Gen Digital stock opened at $30.26 on Friday. Gen Digital Inc. has a 52-week low of $17.78 and a 52-week high of $31.65. The stock's 50-day simple moving average is $28.20 and its 200 day simple moving average is $24.28. The stock has a market capitalization of $18.11 billion, a P/E ratio of 17.59, a P/E/G ratio of 0.96 and a beta of 1.22. The company has a debt-to-equity ratio of 3.00, a quick ratio of 0.47 and a current ratio of 0.47.

Gen Digital (NASDAQ:GEN - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.71 earnings per share for the quarter, topping analysts' consensus estimates of $0.69 by $0.02. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.31 billion. Gen Digital had a net margin of 20.73% and a return on equity of 55.93%. The company's quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the business earned $0.64 earnings per share. Gen Digital has set its FY 2027 guidance at 2.870-2.970 EPS and its Q2 2027 guidance at 0.710-0.730 EPS. As a group, research analysts anticipate that Gen Digital Inc. will post 2.64 EPS for the current year.

Gen Digital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Monday, August 17th were issued a $0.125 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $0.50 annualized dividend and a yield of 1.7%. Gen Digital's dividend payout ratio (DPR) is 29.07%.

Insider Buying and Selling

In related news, COO Bryan Seuk Ko sold 28,248 shares of Gen Digital stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $30.67, for a total value of $866,366.16. Following the completion of the transaction, the chief operating officer directly owned 744,262 shares in the company, valued at approximately $22,826,515.54. The trade was a 3.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ondrej Vlcek sold 200,000 shares of the business's stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $30.00, for a total transaction of $6,000,000.00. Following the sale, the director directly owned 3,332,904 shares in the company, valued at $99,987,120. The trade was a 5.66% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 558,508 shares of company stock valued at $16,356,093. Company insiders own 9.70% of the company's stock.

About Gen Digital

Gen Digital Inc NASDAQ: GEN is a global cybersecurity and consumer safety company that provides products designed to help individuals and families protect their devices, online identities, personal information and digital privacy. The company serves customers through a portfolio of consumer-focused cybersecurity and privacy brands.

Its products and services include antivirus and device security, identity theft protection, virtual private networks, password management, online privacy tools, scam protection and family safety features.

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