Universal Beteiligungs und Servicegesellschaft mbH Reduces Stock Position in Gen Digital Inc. (NASDAQ:GEN)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH reduced its stake in Gen Digital by 23.2%, selling 121,703 shares, and now owns approximately 0.07% of the company worth $10.7 million.
• Gen Digital's stock received multiple analyst upgrades, with price targets ranging between $25.00 to $46.00 and a consensus rating of "Moderate Buy."
• The company reported earnings of $0.59 per share, beating estimates, with a revenue of $1.01 billion, showcasing a year-over-year growth of 4.4%.

Universal Beteiligungs und Servicegesellschaft mbH cut its stake in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 23.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 403,005 shares of the company's stock after selling 121,703 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned 0.07% of Gen Digital worth $10,696,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of GEN. Choreo LLC acquired a new stake in Gen Digital in the first quarter valued at $260,000. Allianz Asset Management GmbH lifted its holdings in Gen Digital by 66.1% in the first quarter. Allianz Asset Management GmbH now owns 763,677 shares of the company's stock valued at $20,268,000 after acquiring an additional 304,036 shares during the period. Gallacher Capital Management LLC lifted its holdings in Gen Digital by 223.0% in the first quarter. Gallacher Capital Management LLC now owns 36,359 shares of the company's stock valued at $965,000 after acquiring an additional 25,101 shares during the period. Twin Capital Management Inc. acquired a new stake in Gen Digital in the first quarter valued at $1,297,000. Finally, IFP Advisors Inc lifted its holdings in Gen Digital by 1,400.3% in the first quarter. IFP Advisors Inc now owns 9,872 shares of the company's stock valued at $262,000 after acquiring an additional 9,214 shares during the period. 81.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on GEN. Royal Bank Of Canada raised their target price on Gen Digital from $28.00 to $30.00 and gave the company a "sector perform" rating in a report on Wednesday, May 7th. B. Riley assumed coverage on Gen Digital in a report on Monday, July 14th. They issued a "buy" rating and a $46.00 target price for the company. Wall Street Zen cut Gen Digital from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 5th. Barclays raised their price target on Gen Digital from $30.00 to $32.00 and gave the company an "equal weight" rating in a research report on Monday, July 14th. Finally, Evercore ISI assumed coverage on Gen Digital in a research report on Tuesday, July 1st. They issued an "outperform" rating and a $35.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $33.60.

Insider Buying and Selling

In related news, Director Nora Denzel sold 31,646 shares of Gen Digital stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $28.76, for a total transaction of $910,138.96. Following the completion of the sale, the director owned 34,860 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Corporate insiders own 12.20% of the company's stock.

Gen Digital Price Performance

Shares of GEN stock traded down $0.17 during mid-day trading on Tuesday, reaching $30.36. The stock had a trading volume of 651,644 shares, compared to its average volume of 4,111,458. Gen Digital Inc. has a 12-month low of $22.74 and a 12-month high of $31.72. The company has a market cap of $18.83 billion, a P/E ratio of 29.22, a price-to-earnings-growth ratio of 1.12 and a beta of 1.01. The business has a 50-day simple moving average of $29.40 and a 200 day simple moving average of $27.71. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 3.51.

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

Gen Digital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Monday, May 19th were given a dividend of $0.125 per share. 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 is presently 48.08%.

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.