XTX Topco Ltd Invests $332,000 in Gen Digital Inc. (NASDAQ:GEN)

Key Points

• XTX Topco Ltd has invested approximately $332,000 in Gen Digital Inc. by acquiring 12,526 shares in the company during the first quarter.
• Gen Digital reported a quarterly revenue of $1.26 billion, exceeding analysts' expectations, with an EPS of $0.64 that topped estimates by $0.04.
• The company has declared a quarterly dividend of $0.125, translating to an annualized dividend of $0.50 and a yield of 1.6%.

XTX Topco Ltd bought a new position in Gen Digital Inc. (NASDAQ:GEN - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 12,526 shares of the company's stock, valued at approximately $332,000.

Several other hedge funds also recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Gen Digital during the 4th quarter valued at approximately $14,367,000. QSM Asset Management Ltd acquired a new position in Gen Digital during the 4th quarter worth $5,373,000. Brighton Jones LLC boosted its position in Gen Digital by 5.4% during the 4th quarter. Brighton Jones LLC now owns 25,212 shares of the company's stock worth $690,000 after acquiring an additional 1,299 shares during the period. Wellington Management Group LLP boosted its position in Gen Digital by 98.8% during the 4th quarter. Wellington Management Group LLP now owns 114,699 shares of the company's stock worth $3,140,000 after acquiring an additional 56,993 shares during the period. Finally, Kera Capital Partners Inc. boosted its position in Gen Digital by 41.7% during the 1st quarter. Kera Capital Partners Inc. now owns 11,777 shares of the company's stock worth $313,000 after acquiring an additional 3,466 shares during the period. Institutional investors and hedge funds own 81.38% of the company's stock.

Gen Digital Stock Up 7.7%

GEN opened at $30.45 on Friday. Gen Digital Inc. has a one year low of $22.74 and a one year high of $31.72. The company has a debt-to-equity ratio of 3.51, a quick ratio of 0.51 and a current ratio of 0.51. The stock's fifty day moving average is $29.64 and its 200-day moving average is $27.83. The company has a market capitalization of $18.75 billion, a PE ratio of 31.39, a P/E/G ratio of 1.11 and a beta of 1.00.

Gen Digital (NASDAQ:GEN - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.64 EPS for the quarter, topping 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 company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the business earned $0.53 EPS. The company's quarterly revenue was up 30.3% compared to the same quarter last year. On average, equities analysts predict that Gen Digital Inc. will post 2.05 EPS for the current fiscal year.

Gen Digital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 18th will be given a $0.125 dividend. The ex-dividend date is Monday, August 18th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.6%. Gen Digital's dividend payout ratio (DPR) is 48.08%.

Insider Buying and Selling at Gen Digital

In related news, Director Nora Denzel sold 31,646 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $28.76, for a total value of $910,138.96. Following the completion of the transaction, the director owned 34,860 shares in the company, valued at $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 the SEC website. 9.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Morgan Stanley reduced their price target 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. Wells Fargo & Company boosted their price target on Gen Digital from $37.00 to $40.00 and gave the stock an "overweight" rating in a research report on Friday. Wall Street Zen lowered Gen Digital from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 5th. Barclays boosted their price target on Gen Digital from $32.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Friday. Finally, Evercore ISI assumed coverage on Gen Digital in a research report on Tuesday, July 1st. They set an "outperform" rating and a $35.00 price target for the company. Three research 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's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $35.33.

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.

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