QSM Asset Management Ltd Purchases New Stake in Gen Digital Inc. (NASDAQ:GEN)

QSM Asset Management Ltd purchased a new stake in Gen Digital Inc. (NASDAQ:GEN - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 196,778 shares of the company's stock, valued at approximately $5,373,000. Gen Digital makes up approximately 4.6% of QSM Asset Management Ltd's investment portfolio, making the stock its 17th biggest holding.

Separately, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Gen Digital in the fourth quarter valued at approximately $14,367,000. 81.38% of the stock is owned by institutional investors and hedge funds.

Gen Digital Price Performance

Shares of GEN traded down $0.06 during trading hours on Thursday, reaching $28.00. 4,494,231 shares of the company traded hands, compared to its average volume of 3,874,014. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 3.29. The stock has a market capitalization of $17.37 billion, a PE ratio of 27.45, a price-to-earnings-growth ratio of 1.19 and a beta of 1.00. Gen Digital Inc. has a fifty-two week low of $22.74 and a fifty-two week high of $31.72. The stock has a fifty day simple moving average of $26.31 and a 200 day simple moving average of $27.59.

Gen Digital (NASDAQ:GEN - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $999.48 million. Gen Digital had a return on equity of 58.83% and a net margin of 16.32%. The company's revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 EPS. As a group, research analysts predict that Gen Digital Inc. will post 2.05 EPS for the current fiscal year.

Gen Digital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Monday, May 19th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $0.50 dividend on an annualized basis and a yield of 1.79%. Gen Digital's dividend payout ratio is currently 48.08%.

Insider Activity at Gen Digital

In other Gen Digital news, Director Nora Denzel sold 31,646 shares of the business'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 completion of the transaction, the director now owns 34,860 shares in the company, valued at approximately $1,002,573.60. The trade was a 47.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 12.20% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on GEN. Morgan Stanley decreased their price objective on Gen Digital from $27.00 to $25.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Royal Bank of Canada upped their price target on Gen Digital from $28.00 to $30.00 and gave the stock a "sector perform" rating in a research note on Wednesday, May 7th.

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.