Novem Group Acquires New Holdings in Gen Digital Inc. $GEN

Key Points

• Novem Group purchased approximately 30,871 shares of Gen Digital Inc. in Q2, valued at around $908,000.
• Analysts have raised their target prices for Gen Digital, with Wells Fargo boosting their target to $40.00 and B. Riley issuing a $46.00 buy rating.
• Gen Digital has reported strong quarterly earnings, with an EPS of $0.64, exceeding expectations and a revenue increase of 30.3% year-over-year.

Novem Group bought a new stake in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 30,871 shares of the company's stock, valued at approximately $908,000.

Several other large investors also recently made changes to their positions in GEN. Vanguard Group Inc. boosted its position in Gen Digital by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 69,690,768 shares of the company's stock worth $1,849,593,000 after acquiring an additional 2,513,464 shares during the period. Ameriprise Financial Inc. increased its stake in Gen Digital by 3.8% during the 1st quarter. Ameriprise Financial Inc. now owns 21,067,048 shares of the company's stock valued at $559,126,000 after buying an additional 768,652 shares during the period. Boston Partners raised its position in shares of Gen Digital by 37.3% during the 1st quarter. Boston Partners now owns 13,358,167 shares of the company's stock worth $354,456,000 after buying an additional 3,631,052 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Gen Digital by 43.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,270,615 shares of the company's stock worth $325,662,000 after acquiring an additional 3,724,211 shares during the period. Finally, Nuveen LLC bought a new position in shares of Gen Digital in the first quarter valued at approximately $299,562,000. Institutional investors and hedge funds own 81.38% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Wells Fargo & Company boosted their target price on Gen Digital from $37.00 to $40.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. B. Riley started coverage on Gen Digital in a report on Monday, July 14th. They issued a "buy" rating and a $46.00 price objective for the company. Evercore ISI assumed coverage on Gen Digital in a research note on Tuesday, July 1st. They set an "outperform" rating and a $35.00 target price for the company. Royal Bank Of Canada boosted their price target on shares of Gen Digital from $32.00 to $33.00 and gave the stock a "sector perform" rating in a research report on Friday, August 8th. Finally, Barclays raised their price objective on shares of Gen Digital from $32.00 to $33.00 and gave the company an "equal weight" rating in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.50.

Gen Digital Price Performance

GEN stock opened at $28.80 on Friday. Gen Digital Inc. has a one year low of $22.74 and a one year high of $32.22. The firm has a 50-day moving average of $29.97 and a two-hundred day moving average of $28.44. The firm has a market capitalization of $17.74 billion, a PE ratio of 29.69, a P/E/G ratio of 0.96 and a beta of 0.99. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 3.63.

Gen Digital (NASDAQ:GEN - Get Free Report) last issued its quarterly 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. Gen Digital had a net margin of 14.12% and a return on equity of 57.99%. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the firm earned $0.53 EPS. The firm's quarterly revenue was up 30.3% on a year-over-year basis. 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 year.

Gen Digital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Monday, August 18th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, August 18th. Gen Digital's dividend payout ratio (DPR) 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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