Nilsine Partners LLC Invests $2.38 Million in Gen Digital Inc. (NASDAQ:GEN)

Nilsine Partners LLC acquired a new position in Gen Digital Inc. (NASDAQ:GEN - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 89,471 shares of the company's stock, valued at approximately $2,375,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of GEN. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Gen Digital in the 4th quarter worth $14,367,000. QSM Asset Management Ltd bought a new position in shares of Gen Digital in the 4th quarter valued at about $5,373,000. Brighton Jones LLC lifted its holdings in shares of Gen Digital by 5.4% in the 4th quarter. Brighton Jones LLC now owns 25,212 shares of the company's stock valued at $690,000 after acquiring an additional 1,299 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Gen Digital by 98.8% in the 4th quarter. Wellington Management Group LLP now owns 114,699 shares of the company's stock valued at $3,140,000 after acquiring an additional 56,993 shares during the last quarter. Finally, Kera Capital Partners Inc. lifted its stake in Gen Digital by 41.7% in the first quarter. Kera Capital Partners Inc. now owns 11,777 shares of the company's stock worth $313,000 after purchasing an additional 3,466 shares during the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Gen Digital news, Director Nora Denzel sold 31,646 shares of the company's stock in a transaction 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 transaction, the director now directly owns 34,860 shares in the company, valued at $1,002,573.60. This represents a 47.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 12.20% of the company's stock.

Gen Digital Stock Performance

Shares of GEN stock opened at $29.03 on Friday. The stock has a market cap of $18.01 billion, a PE ratio of 27.91, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01. The business has a 50-day simple moving average of $27.51 and a 200-day simple moving average of $27.47. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 3.51. Gen Digital Inc. has a 52-week low of $22.74 and a 52-week high of $31.72.

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

Gen Digital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Monday, May 19th were given a $0.125 dividend. The ex-dividend date was Monday, May 19th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.72%. Gen Digital's dividend payout ratio (DPR) is presently 48.08%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on GEN shares. Morgan Stanley decreased their price objective on shares of Gen Digital from $27.00 to $25.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. 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 report on Wednesday, May 7th.

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.

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