Nisa Investment Advisors LLC Sells 26,915 Shares of Gen Digital Inc. (NASDAQ:GEN)

Nisa Investment Advisors LLC lessened its stake in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 27.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 70,642 shares of the company's stock after selling 26,915 shares during the quarter. Nisa Investment Advisors LLC's holdings in Gen Digital were worth $1,875,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in GEN. Catalyst Capital Advisors LLC lifted its position in Gen Digital by 117.6% during the first quarter. Catalyst Capital Advisors LLC now owns 1,580 shares of the company's stock valued at $42,000 after purchasing an additional 854 shares in the last quarter. Tsfg LLC bought a new stake in Gen Digital in the 1st quarter valued at $52,000. Mather Group LLC. lifted its stake in Gen Digital by 26.6% in the 1st quarter. Mather Group LLC. now owns 3,730 shares of the company's stock worth $99,000 after purchasing an additional 783 shares in the last quarter. Curat Global LLC bought a new position in Gen Digital during the first quarter valued at approximately $154,000. Finally, Sagespring Wealth Partners LLC bought a new stake in Gen Digital in the 1st quarter worth approximately $212,000. 81.38% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Nora Denzel sold 31,646 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $28.76, for a total value of $910,138.96. Following the transaction, the director directly owned 34,860 shares in the company, valued at approximately $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 SEC, which is accessible through the SEC website. Corporate insiders own 12.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GEN shares. Barclays raised their target price on shares of Gen Digital from $30.00 to $32.00 and gave the company an "equal weight" rating in a report on Monday. Evercore ISI assumed coverage on shares of Gen Digital in a report on Tuesday, July 1st. They issued an "outperform" rating and a $35.00 target price on the stock. Wall Street Zen downgraded shares of Gen Digital from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 5th. B. Riley began coverage on Gen Digital in a research note on Monday. They set a "buy" rating and a $46.00 price objective on the stock. Finally, Morgan Stanley decreased their price objective 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 assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $33.60.

Gen Digital Trading Up 3.9%

Gen Digital stock traded up $1.11 during midday trading on Monday, reaching $29.80. The stock had a trading volume of 3,817,155 shares, compared to its average volume of 4,229,213. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 3.51. The firm has a market cap of $18.48 billion, a price-to-earnings ratio of 28.65, a price-to-earnings-growth ratio of 1.07 and a beta of 1.01. Gen Digital Inc. has a 52-week low of $22.74 and a 52-week high of $31.72. The company has a fifty day moving average of $28.92 and a 200 day moving average of $27.48.

Gen Digital (NASDAQ:GEN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.59 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $999.48 million. During the same period in the prior year, the business posted $0.53 earnings per share. The company's revenue for the quarter was up 4.4% on a year-over-year basis. On average, analysts anticipate that Gen Digital Inc. will post 2.05 earnings per share for the current fiscal year.

Gen Digital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Monday, May 19th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.50 annualized dividend and a dividend yield of 1.68%. Gen Digital's dividend payout ratio (DPR) is 48.08%.

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.