Rafferty Asset Management LLC Sells 38,998 Shares of Gen Digital Inc. $GEN

Key Points

• Rafferty Asset Management LLC sold 38,998 shares of Gen Digital Inc., reducing its holdings by 21.1% to 145,590 shares, valued at approximately $3.86 million.
• Gen Digital reported a 30.3% year-over-year increase in revenue with earnings per share (EPS) of $0.64, exceeding analysts' estimates of $0.60.
• The company declared a quarterly dividend of $0.125 per share, resulting in an annualized yield of 1.7%, set to be paid on September 10th.

Rafferty Asset Management LLC cut its stake in Gen Digital Inc. (NASDAQ:GEN - Free Report) by 21.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 145,590 shares of the company's stock after selling 38,998 shares during the period. Rafferty Asset Management LLC's holdings in Gen Digital were worth $3,864,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of GEN. Nuveen LLC bought a new stake in Gen Digital in the 1st quarter valued at $299,562,000. Boston Partners raised its stake in shares of Gen Digital by 37.3% in the 1st quarter. Boston Partners now owns 13,358,167 shares of the company's stock valued at $354,456,000 after buying an additional 3,631,052 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Gen Digital by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 69,690,768 shares of the company's stock valued at $1,849,593,000 after buying an additional 2,513,464 shares in the last quarter. Northern Trust Corp increased its position in shares of Gen Digital by 14.3% during the 1st quarter. Northern Trust Corp now owns 7,689,268 shares of the company's stock worth $204,073,000 after purchasing an additional 962,228 shares in the last quarter. Finally, Todd Asset Management LLC acquired a new stake in shares of Gen Digital during the 1st quarter worth about $25,432,000. 81.38% of the stock is owned by institutional investors.

Gen Digital Trading Down 2.3%

Gen Digital stock traded down $0.70 during midday trading on Tuesday, hitting $29.50. 4,106,149 shares of the stock were exchanged, compared to its average volume of 4,141,002. The company has a fifty day simple moving average of $30.21 and a two-hundred day simple moving average of $28.23. Gen Digital Inc. has a 52 week low of $22.74 and a 52 week high of $32.22. The stock has a market capitalization of $18.17 billion, a PE ratio of 30.41, a P/E/G ratio of 1.01 and a beta of 0.99. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 3.63.

Gen Digital (NASDAQ:GEN - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.64 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the firm earned $0.53 EPS. Gen Digital's quarterly revenue was up 30.3% compared to the same quarter last year. Gen Digital has set its Q2 2026 guidance at 0.600-0.620 EPS. FY 2026 guidance at 2.490-2.560 EPS. Equities research analysts anticipate that Gen Digital Inc. will post 2.05 EPS for the current fiscal year.

Gen Digital Announces Dividend

The business also recently declared 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 of this dividend is Monday, August 18th. This represents a $0.50 dividend on an annualized basis and a yield of 1.7%. Gen Digital's payout ratio is presently 51.55%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Wall Street Zen cut shares of Gen Digital from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 5th. Morgan Stanley increased their target price on shares of Gen Digital from $25.00 to $32.00 and gave the stock an "equal weight" rating in a research report on Tuesday. B. Riley assumed coverage on shares of Gen Digital in a research report on Monday, July 14th. They issued a "buy" rating and a $46.00 price objective for the company. Evercore ISI started coverage on shares of Gen Digital in a research report on Tuesday, July 1st. They issued an "outperform" rating and a $35.00 price objective for the company. Finally, Barclays lifted their price target on shares of Gen Digital from $32.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $36.50.

About Gen Digital

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.