Royal Bank of Canada Sells 522,864 Shares of Gen Digital Inc. $GEN

Royal Bank of Canada decreased its stake in Gen Digital Inc. (NASDAQ:GEN - Free Report) by 39.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 801,528 shares of the company's stock after selling 522,864 shares during the period. Royal Bank of Canada owned 0.13% of Gen Digital worth $21,273,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its stake in shares of Gen Digital by 132.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 599,821 shares of the company's stock valued at $16,039,000 after buying an additional 341,533 shares during the period. Mather Group LLC. grew its stake in Gen Digital by 26.6% during the first quarter. Mather Group LLC. now owns 3,730 shares of the company's stock worth $99,000 after purchasing an additional 783 shares during the period. Cornerstone Wealth Group LLC acquired a new stake in Gen Digital during the first quarter worth approximately $377,000. Wellington Management Group LLP grew its stake in Gen Digital by 98.8% during the fourth quarter. Wellington Management Group LLP now owns 114,699 shares of the company's stock worth $3,140,000 after purchasing an additional 56,993 shares during the period. Finally, Exchange Traded Concepts LLC grew its stake in Gen Digital by 52.4% during the first quarter. Exchange Traded Concepts LLC now owns 11,146 shares of the company's stock worth $296,000 after purchasing an additional 3,830 shares during the period. Institutional investors and hedge funds own 81.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GEN. Morgan Stanley raised their target price on Gen Digital from $25.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Tuesday, September 2nd. Wall Street Zen cut Gen Digital from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th. Evercore ISI began 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. Barclays raised their target price on Gen Digital from $32.00 to $33.00 and gave the stock an "equal weight" rating in a research note on Friday, August 8th. Finally, B. Riley began coverage on Gen Digital in a research note on Monday, July 14th. They set a "buy" rating and a $46.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $36.50.

Gen Digital Stock Down 1.8%

Shares of NASDAQ:GEN traded down $0.53 during mid-day trading on Friday, hitting $29.14. 2,865,835 shares of the company traded hands, compared to its average volume of 3,420,315. The stock has a market cap of $17.95 billion, a P/E ratio of 30.04, a P/E/G ratio of 1.00 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 Inc. has a 12-month low of $22.74 and a 12-month high of $32.22. The stock has a 50-day moving average price of $30.18 and a two-hundred day moving average price of $28.35.

Gen Digital (NASDAQ:GEN - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.04. The company had revenue of $1.26 billion for the quarter, compared to analysts' expectations of $1.19 billion. Gen Digital had a return on equity of 57.99% and a net margin of 14.12%.Gen Digital's quarterly revenue was up 30.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.53 earnings per share. 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, equities research 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 declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Monday, August 18th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Monday, August 18th. Gen Digital's dividend payout ratio (DPR) is 51.55%.

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.