SEB Asset Management AB Takes $19.48 Million Position in Gen Digital Inc. $GEN

Key Points

• SEB Asset Management AB opened a new position in Gen Digital during the first quarter, buying 1,034,695 shares worth about $19.48 million.
• Gen Digital’s latest quarterly results beat expectations, with EPS of $0.67 versus $0.65 estimated and revenue of $1.28 billion, up 27% year over year.
• Analyst sentiment remains cautious overall: the stock has a consensus rating of “Hold” and an average price target of $29.33, while shares recently traded at $26.74.

SEB Asset Management AB acquired a new position in Gen Digital Inc. (NASDAQ:GEN - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,034,695 shares of the company's stock, valued at approximately $19,483,000. SEB Asset Management AB owned 0.17% of Gen Digital as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of GEN. International Assets Investment Management LLC bought a new position in Gen Digital during the 4th quarter worth approximately $27,000. TD Private Client Wealth LLC grew its stake in Gen Digital by 65.8% in the fourth quarter. TD Private Client Wealth LLC now owns 1,539 shares of the company's stock valued at $42,000 after acquiring an additional 611 shares during the period. MUFG Securities EMEA plc bought a new stake in shares of Gen Digital in the second quarter worth about $47,000. Geneos Wealth Management Inc. increased its position in shares of Gen Digital by 221.5% during the first quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company's stock worth $46,000 after acquiring an additional 1,183 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its holdings in Gen Digital by 47.8% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,756 shares of the company's stock worth $50,000 after purchasing an additional 568 shares in the last quarter. 81.38% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on GEN shares. Weiss Ratings raised Gen Digital from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday. Argus upgraded Gen Digital to a "strong-buy" rating in a report on Friday, May 22nd. Wall Street Zen downgraded Gen Digital from a "buy" rating to a "hold" rating in a report on Saturday, June 20th. Jefferies Financial Group downgraded shares of Gen Digital from a "strong-buy" rating to a "hold" rating in a report on Monday, April 27th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and issued a $27.00 price target on shares of Gen Digital in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $29.33.

Gen Digital Price Performance

Gen Digital stock opened at $26.74 on Monday. The company has a market capitalization of $16.11 billion, a price-to-earnings ratio of 16.92 and a beta of 1.21. The stock's 50 day moving average is $25.06 and its 200-day moving average is $23.24. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 3.07. Gen Digital Inc. has a 12 month low of $17.78 and a 12 month high of $32.22.

Gen Digital (NASDAQ:GEN - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.67 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.02. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. Gen Digital had a return on equity of 55.47% and a net margin of 19.46%.The company's revenue for the quarter was up 27.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.59 EPS. Gen Digital has set its Q1 2027 guidance at 0.680-0.700 EPS and its FY 2027 guidance at 2.850-2.950 EPS. Equities research analysts expect that Gen Digital Inc. will post 2.59 EPS for the current year.

Gen Digital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Monday, May 18th were issued a $0.125 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.50 dividend on an annualized basis and a yield of 1.9%. Gen Digital's payout ratio is currently 31.65%.

Insider Activity at Gen Digital

In other news, Director Ondrej Vlcek sold 100,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $24.78, for a total transaction of $2,478,000.00. Following the transaction, the director directly owned 3,832,724 shares of the company's stock, valued at approximately $94,974,900.72. This trade represents a 2.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John C. Chrystal purchased 3,000 shares of Gen Digital stock in a transaction that occurred on Thursday, June 4th. The shares were bought at an average cost of $27.06 per share, for a total transaction of $81,180.00. Following the transaction, the director directly owned 31,419 shares of the company's stock, valued at $850,198.14. This represents a 10.56% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 9.30% of the stock is currently owned by company insiders.

Gen Digital Profile

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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