Northern Trust Corp Purchases 962,228 Shares of Gen Digital Inc. $GEN

Key Points

• Northern Trust Corp increased its stake in Gen Digital Inc. by 14.3% in Q1, owning approximately 1.25% of the company, valued at $204 million.
• Gen Digital reported $0.64 EPS for the latest quarter, exceeding estimates, with revenue up 30.3% year-over-year at $1.26 billion.
• The company announced a quarterly dividend of $0.125 per share, representing an annual yield of 1.6%, with a payout ratio of 51.55%.

Northern Trust Corp raised its stake in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 14.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,689,268 shares of the company's stock after buying an additional 962,228 shares during the quarter. Northern Trust Corp owned about 1.25% of Gen Digital worth $204,073,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its position in shares of Gen Digital by 132.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 599,821 shares of the company's stock worth $16,039,000 after buying an additional 341,533 shares during the period. Mather Group LLC. grew its position in shares of Gen Digital by 26.6% during the 1st quarter. Mather Group LLC. now owns 3,730 shares of the company's stock worth $99,000 after buying an additional 783 shares during the period. Cornerstone Wealth Group LLC acquired a new position in shares of Gen Digital during the 1st quarter worth about $377,000. Wellington Management Group LLP grew its position in shares of Gen Digital by 98.8% during the 4th quarter. Wellington Management Group LLP now owns 114,699 shares of the company's stock worth $3,140,000 after buying an additional 56,993 shares during the period. Finally, Exchange Traded Concepts LLC grew its position in shares of Gen Digital by 52.4% during the 1st quarter. Exchange Traded Concepts LLC now owns 11,146 shares of the company's stock worth $296,000 after buying an additional 3,830 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on GEN shares. B. Riley started coverage on Gen Digital in a research report on Monday, July 14th. They set a "buy" rating and a $46.00 target price for the company. Evercore ISI assumed coverage on Gen Digital in a report on Tuesday, July 1st. They set an "outperform" rating and a $35.00 price objective on the stock. Barclays lifted their price objective on Gen Digital from $32.00 to $33.00 and gave the company an "equal weight" rating in a report on Friday, August 8th. Royal Bank Of Canada lifted their price objective on Gen Digital from $32.00 to $33.00 and gave the company a "sector perform" rating in a report on Friday, August 8th. Finally, Wall Street Zen cut Gen Digital from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $35.33.

Gen Digital Stock Up 1.3%

NASDAQ GEN traded up $0.39 during trading on Friday, hitting $31.58. The stock had a trading volume of 3,609,020 shares, compared to its average volume of 4,023,761. The company has a market capitalization of $19.45 billion, a PE ratio of 15.18, a P/E/G ratio of 1.06 and a beta of 1.00. The company's 50-day moving average price is $30.07 and its two-hundred day moving average price is $28.11. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.50 and a current ratio of 0.50. Gen Digital Inc. has a 12 month low of $22.74 and a 12 month high of $32.22.

Gen Digital (NASDAQ:GEN - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.60 by $0.04. The firm had revenue of $1.26 billion for the quarter, compared to analysts' expectations of $1.19 billion. Gen Digital had a return on equity of 57.99% and a net margin of 14.12%.The business's quarterly revenue was up 30.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.53 EPS. Gen Digital has set its Q2 2026 guidance at 0.600-0.620 EPS. FY 2026 guidance at 2.490-2.560 EPS. As a group, sell-side analysts forecast 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 will be paid on Wednesday, September 10th. Shareholders of record on Monday, August 18th will be paid a $0.125 dividend. The ex-dividend date is Monday, August 18th. This represents a $0.50 annualized dividend and a yield of 1.6%. Gen Digital's payout ratio is presently 51.55%.

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.