US Bancorp DE Has $1.85 Million Position in Gen Digital Inc. (NASDAQ:GEN)

Key Points

• US Bancorp DE reduced its stake in Gen Digital Inc. by 18.3%, ending the quarter with holdings worth approximately $1.85 million.
• Multiple analysts have adjusted their price targets for Gen Digital, with estimates ranging from $25.00 to $46.00 and an average rating of "Moderate Buy".
• Gen Digital announced a quarterly dividend of $0.125 per share, representing a yield of 1.6%, to be paid on September 10th.

US Bancorp DE cut its stake in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 18.3% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 69,752 shares of the company's stock after selling 15,618 shares during the period. US Bancorp DE's holdings in Gen Digital were worth $1,851,000 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 GEN. Catalyst Capital Advisors LLC lifted its position in Gen Digital by 117.6% during the 1st quarter. Catalyst Capital Advisors LLC now owns 1,580 shares of the company's stock worth $42,000 after acquiring an additional 854 shares in the last quarter. Tsfg LLC acquired a new position in shares of Gen Digital in the 1st quarter valued at approximately $52,000. Mather Group LLC. raised its position in shares of Gen Digital by 26.6% in 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 in the last quarter. Curat Global LLC acquired a new position in shares of Gen Digital in the 1st quarter valued at approximately $154,000. Finally, Sagespring Wealth Partners LLC acquired a new position in shares of Gen Digital in the 1st quarter valued at approximately $212,000. 81.38% of the stock is owned by institutional investors and hedge funds.

Gen Digital Trading Up 7.7%

Shares of NASDAQ:GEN traded up $2.18 during midday trading on Friday, reaching $30.45. The company had a trading volume of 10,080,020 shares, compared to its average volume of 3,246,554. The company has a debt-to-equity ratio of 3.51, a quick ratio of 0.51 and a current ratio of 0.51. Gen Digital Inc. has a 1-year low of $22.74 and a 1-year high of $31.72. The firm has a market cap of $18.75 billion, a price-to-earnings ratio of 31.39, a price-to-earnings-growth ratio of 1.11 and a beta of 1.00. The company has a fifty day simple moving average of $29.64 and a two-hundred day simple moving average of $27.83.

Gen Digital (NASDAQ:GEN - Get Free Report) last released its quarterly earnings results 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. Gen Digital had a return on equity of 59.28% and a net margin of 14.12%. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the company posted $0.53 EPS. Gen Digital's revenue for the quarter was up 30.3% on a year-over-year basis. Research analysts predict that Gen Digital Inc. will post 2.05 earnings per share for the current year.

Gen Digital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 18th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Monday, August 18th. Gen Digital's dividend payout ratio is currently 48.08%.

Analysts Set New Price Targets

A number of brokerages have issued reports on GEN. Wall Street Zen lowered Gen Digital from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 5th. Royal Bank Of Canada upped their target price on Gen Digital from $32.00 to $33.00 and gave the company a "sector perform" rating in a research report on Friday. Morgan Stanley cut their target price on Gen Digital from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Evercore ISI assumed coverage on Gen Digital in a research report on Tuesday, July 1st. They issued an "outperform" rating and a $35.00 target price on the stock. Finally, B. Riley assumed coverage on Gen Digital in a research report on Monday, July 14th. They set a "buy" rating and a $46.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Gen Digital currently has an average rating of "Moderate Buy" and an average target price of $35.33.

Insider Buying and Selling

In other Gen Digital news, Director Nora Denzel sold 31,646 shares of the firm's 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 directly 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 9.30% of the company's stock.

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.