Wellington Management Group LLP Buys 56,993 Shares of Gen Digital Inc. (NASDAQ:GEN)

Wellington Management Group LLP grew its holdings in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 98.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 114,699 shares of the company's stock after buying an additional 56,993 shares during the quarter. Wellington Management Group LLP's holdings in Gen Digital were worth $3,140,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Brighton Jones LLC raised its position in Gen Digital by 5.4% during the fourth quarter. Brighton Jones LLC now owns 25,212 shares of the company's stock valued at $690,000 after purchasing an additional 1,299 shares during the period. QSM Asset Management Ltd bought a new position in shares of Gen Digital during the 4th quarter valued at approximately $5,373,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Gen Digital during the 4th quarter valued at $14,367,000. Institutional investors own 81.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Royal Bank of Canada lifted their price objective on shares of Gen Digital from $28.00 to $30.00 and gave the stock a "sector perform" rating in a research note on Wednesday, May 7th. Morgan Stanley lowered their target price on shares of Gen Digital from $27.00 to $25.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th.

Gen Digital Trading Up 0.7%

Shares of GEN stock traded up $0.20 on Friday, reaching $29.33. 2,659,019 shares of the company's stock were exchanged, compared to its average volume of 3,836,693. The company's fifty day simple moving average is $26.48 and its 200 day simple moving average is $27.53. Gen Digital Inc. has a 52 week low of $22.74 and a 52 week high of $31.72. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 3.29. The stock has a market capitalization of $18.19 billion, a PE ratio of 28.76, a P/E/G ratio of 1.19 and a beta of 1.01.

Gen Digital (NASDAQ:GEN - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.58 by $0.01. Gen Digital had a net margin of 16.32% and a return on equity of 58.83%. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $999.48 million. During the same quarter last year, the firm posted $0.53 EPS. The firm's revenue was up 4.4% compared to the same quarter last year. As a group, analysts forecast that Gen Digital Inc. will post 2.05 EPS for the current year.

Gen Digital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Monday, May 19th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Monday, May 19th. Gen Digital's dividend payout ratio is presently 48.08%.

Insider Activity at Gen Digital

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 shares were sold at an average price of $28.76, for a total transaction of $910,138.96. Following the transaction, the director now owns 34,860 shares of the company's stock, 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 is available at this hyperlink. 12.20% of the stock is owned by company insiders.

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.