Wedge Capital Management L L P NC Raises Stake in Gen Digital Inc. $GEN

Key Points

• Wedge Capital Management L L P NC increased its stake in Gen Digital Inc. by 20.3% in Q2, owning 165,679 shares worth $4.87 million after additional purchases.
• Gen Digital reported $0.64 earnings per share for the last quarter, exceeding analysts' estimates of $0.60, with a revenue of $1.26 billion showing a year-over-year growth of 30.3%.
• The company announced a quarterly dividend of $0.125, representing an annualized dividend yield of 1.7%, with a current payout ratio of 51.55%.

Wedge Capital Management L L P NC boosted its holdings in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 20.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 165,679 shares of the company's stock after acquiring an additional 27,978 shares during the period. Wedge Capital Management L L P NC's holdings in Gen Digital were worth $4,871,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. CX Institutional increased its holdings in shares of Gen Digital by 9.5% during the second quarter. CX Institutional now owns 55,493 shares of the company's stock valued at $1,632,000 after purchasing an additional 4,807 shares during the period. Financiere des Professionnels Fonds d investissement inc. bought a new position in shares of Gen Digital during the second quarter worth $256,000. IFM Investors Pty Ltd boosted its holdings in Gen Digital by 15.2% during the second quarter. IFM Investors Pty Ltd now owns 131,428 shares of the company's stock worth $3,864,000 after purchasing an additional 17,336 shares during the last quarter. Marshall Financial Group LLC acquired a new position in shares of Gen Digital in the second quarter valued at about $1,013,000. Finally, Swedbank AB increased its stake in shares of Gen Digital by 15.0% in the 2nd quarter. Swedbank AB now owns 812,468 shares of the company's stock valued at $23,887,000 after purchasing an additional 105,679 shares during the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Gen Digital Stock Up 0.5%

NASDAQ GEN traded up $0.13 on Friday, hitting $28.99. 9,551,747 shares of the stock traded hands, compared to its average volume of 3,675,273. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 3.63. The stock has a 50-day moving average of $30.08 and a 200 day moving average of $28.41. The company has a market capitalization of $17.85 billion, a P/E ratio of 29.89, a price-to-earnings-growth ratio of 0.98 and a beta of 0.99. Gen Digital Inc. has a twelve month low of $22.74 and a twelve month high of $32.22.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.60 by $0.04. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.19 billion. Gen Digital had a net margin of 14.12% and a return on equity of 57.99%. The firm's revenue was up 30.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.53 earnings per share. Gen Digital has set its Q2 2026 guidance at 0.600-0.620 EPS. FY 2026 guidance at 2.490-2.560 EPS. As a group, analysts expect that Gen Digital Inc. will post 2.05 earnings per share for the current fiscal year.

Gen Digital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Monday, August 18th were given a $0.125 dividend. The ex-dividend date was Monday, August 18th. This represents a $0.50 dividend on an annualized basis and a yield of 1.7%. Gen Digital's dividend payout ratio (DPR) is currently 51.55%.

Analyst Upgrades and Downgrades

GEN has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of Gen Digital from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 5th. Wells Fargo & Company upped their target price on shares of Gen Digital from $37.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Evercore ISI began coverage on Gen Digital in a report on Tuesday, July 1st. They set an "outperform" rating and a $35.00 price target on the stock. Royal Bank Of Canada lifted their price target on shares of Gen Digital from $32.00 to $33.00 and gave the stock a "sector perform" rating in a report on Friday, August 8th. Finally, B. Riley began coverage on shares of Gen Digital in a report on Monday, July 14th. They issued a "buy" rating and a $46.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.50.

Gen Digital 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.