Twin Capital Management Inc. Buys Shares of 48,857 Gen Digital Inc. (NASDAQ:GEN)

Twin Capital Management Inc. bought a new stake in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 48,857 shares of the company's stock, valued at approximately $1,297,000.

Several other hedge funds and other institutional investors have also bought and sold shares of GEN. 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 purchasing an additional 783 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Gen Digital by 132.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 599,821 shares of the company's stock valued at $16,039,000 after purchasing an additional 341,533 shares during the last quarter. Cornerstone Wealth Group LLC purchased a new stake 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 purchasing an additional 56,993 shares during the last quarter. 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 purchasing an additional 3,830 shares during the last quarter. Institutional investors own 81.38% of the company's stock.

Gen Digital Price Performance

NASDAQ:GEN opened at $30.27 on Monday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 3.51. Gen Digital Inc. has a 52 week low of $22.74 and a 52 week high of $31.72. The stock has a market capitalization of $18.77 billion, a PE ratio of 29.11, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01. The stock's 50-day moving average price is $29.19 and its 200-day moving average price is $27.57.

Gen Digital (NASDAQ:GEN - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.01. Gen Digital had a return on equity of 59.38% and a net margin of 16.34%. The company had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $999.48 million. During the same period in the previous year, the firm posted $0.53 EPS. Gen Digital's revenue was up 4.4% compared to the same quarter last year. As a group, equities analysts expect that Gen Digital Inc. will post 2.05 EPS for the current fiscal year.

Gen Digital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Monday, May 19th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date was Monday, May 19th. Gen Digital's dividend payout ratio (DPR) is 48.08%.

Insiders Place Their Bets

In other Gen Digital news, Director Nora Denzel sold 31,646 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $28.76, for a total value of $910,138.96. Following the transaction, the director directly owned 34,860 shares of the company's stock, valued at $1,002,573.60. This trade represents a 47.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on GEN shares. B. Riley started coverage on Gen Digital in a research note on Monday, July 14th. They issued a "buy" rating and a $46.00 target price for the company. Wall Street Zen lowered Gen Digital from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th. Evercore ISI assumed coverage on Gen Digital in a research note on Tuesday, July 1st. They issued an "outperform" rating and a $35.00 target price for the company. Barclays lifted their price objective on Gen Digital from $30.00 to $32.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. Finally, Morgan Stanley reduced their price objective on Gen Digital from $27.00 to $25.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Gen Digital presently has an average rating of "Moderate Buy" and an average target price of $33.60.

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.

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