Rhumbline Advisers Has $29.63 Million Stock Holdings in Gen Digital Inc. (NASDAQ:GEN)

Rhumbline Advisers grew its position in Gen Digital Inc. (NASDAQ:GEN - Free Report) by 6.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,116,301 shares of the company's stock after acquiring an additional 69,558 shares during the period. Rhumbline Advisers owned 0.18% of Gen Digital worth $29,627,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Gen Digital during the fourth quarter worth approximately $14,367,000. GAMMA Investing LLC raised its position in Gen Digital by 2,954.9% in the 1st quarter. GAMMA Investing LLC now owns 322,169 shares of the company's stock worth $8,550,000 after purchasing an additional 311,623 shares during the last quarter. QSM Asset Management Ltd acquired a new position in Gen Digital during the 4th quarter worth $5,373,000. Wellington Management Group LLP boosted its position in Gen Digital by 98.8% in the 4th quarter. Wellington Management Group LLP now owns 114,699 shares of the company's stock valued at $3,140,000 after buying an additional 56,993 shares during the last quarter. Finally, First Hawaiian Bank boosted its position in Gen Digital by 129.6% in the 1st quarter. First Hawaiian Bank now owns 75,278 shares of the company's stock valued at $1,998,000 after buying an additional 42,488 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors.

Insider Activity

In other Gen Digital news, Director Nora Denzel sold 31,646 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $28.76, for a total value of $910,138.96. Following the transaction, the director now directly owns 34,860 shares of the company's stock, valued at $1,002,573.60. This trade represents a 47.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

GEN has been the topic of several recent research reports. Morgan Stanley reduced their target price on shares of Gen Digital from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Royal Bank of Canada increased their price objective on shares of Gen Digital from $28.00 to $30.00 and gave the company a "sector perform" rating in a report on Wednesday, May 7th.

Gen Digital Trading Up 0.7%

GEN traded up $0.20 during midday trading on Friday, reaching $29.33. 2,659,019 shares of the company were exchanged, compared to its average volume of 3,836,693. The stock has a market capitalization of $18.19 billion, a P/E ratio of 28.76, a PEG ratio of 1.19 and a beta of 1.01. Gen Digital Inc. has a one year low of $22.74 and a one year high of $31.72. The stock's 50-day simple moving average is $26.48 and its 200 day simple moving average is $27.53. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.35 and a current ratio of 0.35.

Gen Digital (NASDAQ:GEN - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.01. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $999.48 million. Gen Digital had a net margin of 16.32% and a return on equity of 58.83%. The business's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the business posted $0.53 earnings per share. As a group, analysts forecast that Gen Digital Inc. will post 2.05 earnings per share for the current fiscal year.

Gen Digital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Monday, May 19th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $0.50 annualized dividend and a dividend yield of 1.70%. Gen Digital's dividend payout ratio is presently 48.08%.

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.