UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 44,597 Shares of Gen Digital Inc. $GEN

Key Points

• UBS Asset Management reduced its Gen Digital position by 0.5%, selling 44,597 shares and retaining 8.16 million shares valued at approximately $203 million. Institutional investors collectively own 81.38% of the company.
• Gen Digital reported quarterly earnings of $0.71 per share, beating estimates by $0.02, while revenue rose 6.3% year over year to $1.34 billion. The company also announced a quarterly dividend of $0.125 per share, equivalent to a 1.6% annual yield.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $31.67. Shares opened at $31.00, near the company’s 52-week high of $31.29.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in Gen Digital Inc. (NASDAQ:GEN - Free Report) by 0.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,155,355 shares of the company's stock after selling 44,597 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 1.36% of Gen Digital worth $202,987,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in Gen Digital in the 4th quarter valued at $27,000. Grove Bank & Trust increased its stake in Gen Digital by 452.2% in the second quarter. Grove Bank & Trust now owns 1,132 shares of the company's stock valued at $28,000 after acquiring an additional 927 shares during the period. Trust Co. of Vermont acquired a new position in Gen Digital in the second quarter worth about $32,000. Weiss Asset Management LP bought a new position in Gen Digital during the first quarter worth about $41,000. Finally, TD Private Client Wealth LLC lifted its stake in 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 purchasing an additional 611 shares during the period. 81.38% of the stock is owned by institutional investors.

Insider Activity at Gen Digital

In other Gen Digital news, insider Travis Michael Witteveen sold 30,000 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $29.42, for a total transaction of $882,600.00. Following the sale, the insider owned 496,545 shares of the company's stock, valued at $14,608,353.90. This represents a 5.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John C. Chrystal acquired 3,000 shares of the stock in a transaction on Thursday, June 4th. The stock was bought at an average price of $27.06 per share, with a total value of $81,180.00. Following the transaction, the director directly owned 31,419 shares in the company, valued at approximately $850,198.14. This represents a 10.56% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold 630,260 shares of company stock valued at $17,967,726 over the last ninety days. 9.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GEN. Royal Bank Of Canada upped their price objective on Gen Digital from $27.00 to $30.00 and gave the company a "sector perform" rating in a research note on Friday, August 7th. Wall Street Zen lowered Gen Digital from a "buy" rating to a "hold" rating in a research note on Sunday, August 16th. Argus upgraded Gen Digital to a "strong-buy" rating in a research note on Friday, May 22nd. Weiss Ratings raised Gen Digital from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, July 15th. Finally, Barclays boosted their target price on shares of Gen Digital from $27.00 to $32.00 and gave the company an "equal weight" rating in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $31.67.

Gen Digital Stock Down 0.1%

Shares of GEN opened at $31.00 on Tuesday. The company has a market capitalization of $18.56 billion, a P/E ratio of 18.02 and a beta of 1.21. Gen Digital Inc. has a one year low of $17.78 and a one year high of $31.29. The business's 50 day simple moving average is $27.22 and its 200-day simple moving average is $23.84. The company has a debt-to-equity ratio of 3.00, a current ratio of 0.47 and a quick ratio of 0.47.

Gen Digital (NASDAQ:GEN - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.71 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.02. Gen Digital had a return on equity of 55.93% and a net margin of 20.73%.The firm had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.31 billion. During the same period last year, the firm posted $0.64 EPS. The business's revenue was up 6.3% on a year-over-year basis. Gen Digital has set its FY 2027 guidance at 2.870-2.970 EPS and its Q2 2027 guidance at 0.710-0.730 EPS. As a group, sell-side analysts predict that Gen Digital Inc. will post 2.64 EPS for the current fiscal year.

Gen Digital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 17th will be paid a $0.125 dividend. The ex-dividend date is Monday, August 17th. 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 29.07%.

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.

Want to see what other hedge funds are holding GEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gen Digital Inc. (NASDAQ:GEN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source