State of New Jersey Common Pension Fund D Sells 32,542 Shares of Gen Digital Inc. $GEN

Key Points

• The State of New Jersey Common Pension Fund D sold 32,542 shares of Gen Digital Inc., reducing its holdings by 16.3% to a total of 166,650 shares valued at approximately $4.42 million.
• Gen Digital reported strong quarterly earnings, with an EPS of $0.64, surpassing analyst expectations of $0.60, and a year-over-year revenue increase of 30.3% to $1.26 billion.
• The company also announced a quarterly dividend of $0.125 per share, representing an annual yield of 1.6%, with the dividend to be paid on September 10th.

State of New Jersey Common Pension Fund D cut its holdings in Gen Digital Inc. (NASDAQ:GEN - Free Report) by 16.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 166,650 shares of the company's stock after selling 32,542 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Gen Digital were worth $4,423,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its position in Gen Digital by 132.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 599,821 shares of the company's stock valued at $16,039,000 after acquiring an additional 341,533 shares in the last quarter. Mather Group LLC. lifted its holdings in shares of Gen Digital by 26.6% during the 1st quarter. Mather Group LLC. now owns 3,730 shares of the company's stock valued at $99,000 after buying an additional 783 shares during the period. Cornerstone Wealth Group LLC bought a new position in shares of Gen Digital during the 1st quarter valued at $377,000. Wellington Management Group LLP lifted its holdings in shares of Gen Digital by 98.8% during 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 period. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Gen Digital by 52.4% during the 1st quarter. Exchange Traded Concepts LLC now owns 11,146 shares of the company's stock valued at $296,000 after buying an additional 3,830 shares during the period. 81.38% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on GEN. Wells Fargo & Company upped their price objective on Gen Digital from $37.00 to $40.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Barclays upped their price objective 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. Wall Street Zen lowered Gen Digital from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th. B. Riley began coverage on Gen Digital in a research note on Monday, July 14th. They issued a "buy" rating and a $46.00 price objective for the company. Finally, Evercore ISI began coverage on Gen Digital in a research note on Tuesday, July 1st. They issued an "outperform" rating and a $35.00 price objective for the company. One 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 data from MarketBeat, Gen Digital presently has a consensus rating of "Moderate Buy" and a consensus price target of $35.33.

Gen Digital Price Performance

Shares of Gen Digital stock traded up $0.39 during trading on Friday, reaching $31.58. 3,609,020 shares of the stock traded hands, compared to its average volume of 3,939,223. The company has a market capitalization of $19.45 billion, a price-to-earnings ratio of 32.56, a P/E/G ratio of 1.06 and a beta of 1.00. The business has a fifty day simple moving average of $30.07 and a two-hundred day simple moving average of $28.11. The company has a debt-to-equity ratio of 3.63, a current ratio of 0.50 and a quick ratio of 0.50. Gen Digital Inc. has a 52-week low of $22.74 and a 52-week high of $32.22.

Gen Digital (NASDAQ:GEN - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.60 by $0.04. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.19 billion. Gen Digital had a return on equity of 57.99% and a net margin of 14.12%.The business's quarterly revenue was up 30.3% compared to the same quarter last year. During the same quarter last year, the business posted $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. Sell-side analysts expect that Gen Digital Inc. will post 2.05 EPS for the current year.

Gen Digital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Monday, August 18th will be given a dividend of $0.125 per share. The ex-dividend date is Monday, August 18th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.6%. Gen Digital's dividend payout ratio (DPR) is presently 51.55%.

Gen Digital Company 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.