Nykredit A S Makes New $2.70 Million Investment in Gen Digital Inc. $GEN

Key Points

• Nykredit A/S bought 108,629 shares of Gen Digital in the second quarter, representing a new position worth approximately $2.7 million. Institutional investors collectively own 81.38% of the company.
• Gen Digital exceeded quarterly expectations, reporting EPS of $0.71 and revenue of $1.34 billion, with revenue up 6.3% year over year. The company also declared a quarterly dividend of $0.125 per share, equivalent to a 1.6% annualized yield.
• Despite recent analyst price-target increases, Gen Digital has a consensus “Hold” rating and an average target price of $31.60. Insiders sold approximately 630,260 shares worth $18.0 million during the last quarter.

Nykredit A S bought a new position in Gen Digital Inc. (NASDAQ:GEN - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 108,629 shares of the company's stock, valued at approximately $2,704,000.

A number of other institutional investors also recently modified their holdings of GEN. International Assets Investment Management LLC bought a new stake in Gen Digital during the 4th quarter valued at $27,000. Grove Bank & Trust lifted its position in shares of Gen Digital by 452.2% during the second quarter. Grove Bank & Trust now owns 1,132 shares of the company's stock worth $28,000 after acquiring an additional 927 shares in the last quarter. TD Private Client Wealth LLC boosted its holdings in shares of Gen Digital by 65.8% in the fourth quarter. TD Private Client Wealth LLC now owns 1,539 shares of the company's stock worth $42,000 after acquiring an additional 611 shares during the period. MUFG Securities EMEA plc bought a new position in shares of Gen Digital in the second quarter worth $47,000. Finally, Geneos Wealth Management Inc. grew its position in shares of Gen Digital by 221.5% in the first quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company's stock valued at $46,000 after purchasing an additional 1,183 shares in the last quarter. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Gen Digital Stock Performance

NASDAQ:GEN opened at $30.65 on Monday. The company has a market capitalization of $18.35 billion, a price-to-earnings ratio of 17.82, a PEG ratio of 0.97 and a beta of 1.22. The business has a 50 day moving average of $27.78 and a 200 day moving average of $24.03. The company has a debt-to-equity ratio of 3.00, a current ratio of 0.47 and a quick ratio of 0.47. Gen Digital Inc. has a 1-year low of $17.78 and a 1-year high of $31.65.

Gen Digital (NASDAQ:GEN - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.71 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.02. The business had revenue of $1.34 billion for the quarter, compared to analysts' expectations of $1.31 billion. Gen Digital had a net margin of 20.73% and a return on equity of 55.93%. The business's quarterly revenue was up 6.3% on a year-over-year basis. During the same period 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. On average, sell-side analysts predict that Gen Digital Inc. will post 2.64 earnings per share for the current fiscal year.

Gen Digital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 17th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Monday, August 17th. Gen Digital's dividend payout ratio (DPR) is presently 29.07%.

Insiders Place Their Bets

In other Gen Digital news, 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 value of $6,000,000.00. Following the completion of the sale, the director directly owned 3,332,904 shares of the company's stock, valued at $99,987,120. The trade was a 5.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Travis Witteveen sold 30,000 shares of the company's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $29.42, for a total transaction of $882,600.00. Following the sale, the insider owned 496,545 shares of the company's stock, valued at approximately $14,608,353.90. The trade was a 5.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 630,260 shares of company stock worth $17,967,726. 9.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on GEN. Barclays increased their price objective on Gen Digital from $27.00 to $32.00 and gave the stock an "equal weight" rating in a report on Friday, August 7th. Argus raised Gen Digital to a "strong-buy" rating in a report on Friday, May 22nd. Royal Bank Of Canada upped their price target on Gen Digital from $27.00 to $30.00 and gave the company a "sector perform" rating in a research report on Friday, August 7th. Wall Street Zen downgraded shares of Gen Digital from a "buy" rating to a "hold" rating in a report on Sunday, August 16th. Finally, Weiss Ratings upgraded shares of Gen Digital from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $31.60.

About Gen Digital

Gen Digital NASDAQ: GEN is a global cybersecurity company specializing in consumer- and small-business-focused security, privacy, and identity protection solutions. The company offers a suite of products designed to safeguard devices, networks, and personal information against malware, ransomware, phishing attacks and other digital threats. With a focus on user-friendly interfaces and cross-platform compatibility, Gen Digital develops antivirus software, VPN services, parental controls, password management tools, and comprehensive identity-theft monitoring services.

Gen Digital traces its origins to the consumer software division of Symantec Corporation, which was spun off in late 2019 under the NortonLifeLock name.

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