Synovus Financial Corp Purchases Shares of 15,212 Gen Digital Inc. $GEN

Key Points

• Synovus Financial Corp acquired 15,212 shares of Gen Digital Inc. in the first quarter, with the investment valued at approximately $404,000.
• Analysts have recently set new price targets for Gen Digital, with Wells Fargo raising their target from $37.00 to $40.00 while maintaining an "overweight" rating.
• Gen Digital reported earnings of $0.64 per share for the last quarter, exceeding analysts' expectations and reflecting a year-over-year revenue increase of 30.3%.

Synovus Financial Corp bought a new position in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 15,212 shares of the company's stock, valued at approximately $404,000.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Gen Digital by 3.7% in the first quarter. Vanguard Group Inc. now owns 69,690,768 shares of the company's stock worth $1,849,593,000 after purchasing an additional 2,513,464 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Gen Digital by 3.8% in the first quarter. Ameriprise Financial Inc. now owns 21,067,048 shares of the company's stock worth $559,126,000 after purchasing an additional 768,652 shares during the last quarter. Boston Partners grew its stake in shares of Gen Digital by 37.3% in the first quarter. Boston Partners now owns 13,358,167 shares of the company's stock worth $354,456,000 after purchasing an additional 3,631,052 shares during the last quarter. Nuveen LLC bought a new stake in shares of Gen Digital in the first quarter worth $299,562,000. Finally, Invesco Ltd. boosted its position in Gen Digital by 5.6% during the first quarter. Invesco Ltd. now owns 9,227,444 shares of the company's stock valued at $244,896,000 after acquiring an additional 491,977 shares during the last quarter. Institutional investors own 81.38% of the company's stock.

Gen Digital Stock Down 0.0%

Shares of NASDAQ GEN traded down $0.01 during trading on Friday, hitting $30.20. 4,825,447 shares of the company traded hands, compared to its average volume of 4,397,157. The business's fifty day moving average is $30.18 and its 200 day moving average is $28.21. Gen Digital Inc. has a fifty-two week low of $22.74 and a fifty-two week high of $32.22. The firm has a market capitalization of $18.60 billion, a price-to-earnings ratio of 14.52, a P/E/G ratio of 1.01 and a beta of 0.99. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.50 and a current ratio of 0.50.

Gen Digital (NASDAQ:GEN - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.04. Gen Digital had a net margin of 14.12% and a return on equity of 57.99%. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the business earned $0.53 earnings per share. The business's quarterly revenue was up 30.3% compared to the same quarter last year. Gen Digital has set its Q2 2026 guidance at 0.600-0.620 EPS. FY 2026 guidance at 2.490-2.560 EPS. Equities research analysts predict that Gen Digital Inc. will post 2.05 earnings per share for the current fiscal year.

Gen Digital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Monday, August 18th will be paid a dividend of $0.125 per share. The ex-dividend date is Monday, August 18th. This represents a $0.50 annualized dividend and a dividend yield of 1.7%. Gen Digital's dividend payout ratio (DPR) is presently 51.55%.

Analyst Ratings Changes

GEN has been the topic of a number of research analyst reports. B. Riley initiated coverage on shares of Gen Digital in a research report on Monday, July 14th. They set a "buy" rating and a $46.00 price target on the stock. Wall Street Zen cut shares of Gen Digital from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 5th. Wells Fargo & Company upped their price target on shares of Gen Digital from $37.00 to $40.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Royal Bank Of Canada upped their price target on shares of Gen Digital from $32.00 to $33.00 and gave the company a "sector perform" rating in a research report on Friday, August 8th. Finally, Evercore ISI initiated coverage on shares of Gen Digital in a research report on Tuesday, July 1st. They set an "outperform" rating and a $35.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $35.33.

About Gen Digital

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.