Sei Investments Co. Buys 569,581 Shares of Gen Digital Inc. $GEN

Key Points

• Sei Investments Co. boosted its Gen Digital stake by 28.6% in Q1, buying 569,581 additional shares and bringing its holdings to 2,559,493 shares worth about $48.2 million.
• Analysts remain cautious overall on NASDAQ:GEN: the stock has an average rating of Hold and a consensus price target of $29.33, despite a few upgraded calls.
• Gen Digital reported solid quarterly results, with EPS of $0.67 and revenue of $1.28 billion, both ahead of expectations, while also paying a quarterly dividend of $0.125 per share.

Sei Investments Co. increased its stake in Gen Digital Inc. (NASDAQ:GEN - Free Report) by 28.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,559,493 shares of the company's stock after acquiring an additional 569,581 shares during the quarter. Sei Investments Co. owned about 0.42% of Gen Digital worth $48,195,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. 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 increased its position in shares of Gen Digital by 65.8% during the fourth quarter. TD Private Client Wealth LLC now owns 1,539 shares of the company's stock worth $42,000 after buying an additional 611 shares during the period. MUFG Securities EMEA plc acquired a new stake in shares of Gen Digital during the second quarter worth $47,000. Geneos Wealth Management Inc. raised its stake in 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 buying an additional 1,183 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its stake in Gen Digital by 47.8% during the third quarter. Brown Brothers Harriman & Co. now owns 1,756 shares of the company's stock worth $50,000 after buying an additional 568 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on GEN shares. Weiss Ratings raised shares of Gen Digital from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, July 15th. Jefferies Financial Group lowered Gen Digital from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. Barclays boosted their price objective on Gen Digital from $26.00 to $27.00 and gave the company an "equal weight" rating in a research note on Friday, May 8th. Royal Bank Of Canada restated a "sector perform" rating and set a $27.00 target price on shares of Gen Digital in a research report on Thursday, July 16th. Finally, Argus raised Gen Digital to a "strong-buy" rating in a research note on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Gen Digital has an average rating of "Hold" and an average price target of $29.33.

Insider Transactions at Gen Digital

In other news, Director Ondrej Vlcek sold 100,000 shares of Gen Digital stock in a transaction dated 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 completion of the transaction, the director directly owned 3,832,724 shares in the company, valued at $94,974,900.72. This trade represents a 2.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John C. Chrystal bought 3,000 shares of the firm's stock in a transaction dated Thursday, June 4th. The shares were acquired at an average cost of $27.06 per share, with a total value of $81,180.00. Following the completion of the transaction, the director 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. The disclosure for this purchase is available in the SEC filing. 9.30% of the stock is owned by company insiders.

Gen Digital Price Performance

Shares of NASDAQ:GEN opened at $25.84 on Friday. Gen Digital Inc. has a twelve month low of $17.78 and a twelve month high of $32.22. The stock's 50 day moving average is $25.35 and its 200-day moving average is $23.23. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 3.07. The firm has a market capitalization of $15.57 billion, a price-to-earnings ratio of 16.35 and a beta of 1.21.

Gen Digital (NASDAQ:GEN - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.02. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. Gen Digital had a net margin of 19.46% and a return on equity of 55.47%. Gen Digital's revenue was up 27.0% compared to the same quarter last year. During the same quarter last 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. Sell-side analysts forecast that Gen Digital Inc. will post 2.61 EPS for the current fiscal year.

Gen Digital Dividend Announcement

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

About Gen Digital

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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