Victory Capital Management Inc. raised its stake in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 81.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,006,843 shares of the company's stock after purchasing an additional 450,955 shares during the period. Victory Capital Management Inc. owned 0.16% of Gen Digital worth $26,722,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of GEN. Penserra Capital Management LLC raised its position in Gen Digital by 33.0% in the first quarter. Penserra Capital Management LLC now owns 2,972,160 shares of the company's stock worth $78,880,000 after acquiring an additional 736,809 shares in the last quarter. KBC Group NV boosted its position in Gen Digital by 32.7% during the first quarter. KBC Group NV now owns 2,769,361 shares of the company's stock worth $73,499,000 after purchasing an additional 682,530 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Gen Digital during the fourth quarter worth approximately $14,367,000. Achmea Investment Management B.V. raised its stake in shares of Gen Digital by 40.2% in the first quarter. Achmea Investment Management B.V. now owns 1,454,610 shares of the company's stock valued at $38,605,000 after purchasing an additional 417,206 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Gen Digital by 132.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 599,821 shares of the company's stock valued at $16,039,000 after acquiring an additional 341,533 shares during the period. 81.38% of the stock is owned by institutional investors.
Insider Transactions at Gen Digital
In related news, Director Nora Denzel sold 31,646 shares of Gen Digital stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $28.76, for a total transaction of $910,138.96. Following the completion of 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 12.20% of the company's stock.
Gen Digital Stock Performance
Shares of GEN stock opened at $30.29 on Tuesday. The company has a market cap of $18.79 billion, a PE ratio of 29.13, a P/E/G ratio of 1.10 and a beta of 1.01. 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 Inc. has a 52 week low of $22.74 and a 52 week high of $31.72. The company's fifty day simple moving average is $29.19 and its 200-day simple moving average is $27.57.
Gen Digital (NASDAQ:GEN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.59 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.01. Gen Digital had a net margin of 16.34% and a return on equity of 59.38%. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $999.48 million. During the same period in the prior year, the business posted $0.53 EPS. The business's revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Gen Digital Inc. will post 2.05 EPS for the current year.
Gen Digital Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Monday, May 19th were paid a $0.125 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.50 dividend on an annualized basis and a yield of 1.65%. Gen Digital's payout ratio is presently 48.08%.
Analysts Set New Price Targets
Several analysts have recently issued reports on GEN shares. B. Riley initiated coverage on Gen Digital in a report on Monday, July 14th. They set a "buy" rating and a $46.00 target price on the stock. Barclays increased 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. Morgan Stanley decreased their target price on Gen Digital from $27.00 to $25.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Royal Bank Of Canada lifted their price target on Gen Digital from $28.00 to $30.00 and gave the company a "sector perform" rating in a research report on Wednesday, May 7th. Finally, Wall Street Zen lowered Gen Digital from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $33.60.
Check Out Our Latest Stock Analysis on GEN
Gen Digital Company Profile
(
Free Report)
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.
See Also
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