Vestcor Inc Sells 38,823 Shares of Gen Digital Inc. $GEN

Vestcor Inc trimmed its stake in Gen Digital Inc. (NASDAQ:GEN) by 46.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,542 shares of the company’s stock after selling 38,823 shares during the period. Vestcor Inc’s holdings in Gen Digital were worth $1,265,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. True Wealth Design LLC lifted its stake in shares of Gen Digital by 92.0% in the third quarter. True Wealth Design LLC now owns 1,104 shares of the company’s stock valued at $31,000 after buying an additional 529 shares during the period. Spire Wealth Management raised its position in Gen Digital by 1,183.3% in the third quarter. Spire Wealth Management now owns 1,078 shares of the company’s stock worth $31,000 after purchasing an additional 994 shares in the last quarter. Clearstead Advisors LLC raised its position in Gen Digital by 48.6% in the third quarter. Clearstead Advisors LLC now owns 1,223 shares of the company’s stock worth $35,000 after purchasing an additional 400 shares in the last quarter. CYBER HORNET ETFs LLC bought a new position in Gen Digital during the second quarter worth about $44,000. Finally, Geneos Wealth Management Inc. lifted its stake in Gen Digital by 221.5% during the first quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company’s stock worth $46,000 after purchasing an additional 1,183 shares during the period. Institutional investors own 81.38% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Zacks Research upgraded Gen Digital from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 18th. Wells Fargo & Company assumed coverage on Gen Digital in a research note on Tuesday, March 3rd. They issued an “equal weight” rating and a $22.00 price target on the stock. Barclays lowered their price target on Gen Digital from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Friday, February 6th. Weiss Ratings reissued a “hold (c+)” rating on shares of Gen Digital in a report on Thursday, January 22nd. Finally, Wall Street Zen upgraded shares of Gen Digital from a “hold” rating to a “buy” rating in a research note on Sunday, February 8th. Two investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $32.71.

Gen Digital Trading Down 2.5%

GEN stock opened at $21.24 on Thursday. The business has a fifty day moving average price of $24.17 and a 200 day moving average price of $26.43. The company has a debt-to-equity ratio of 3.50, a current ratio of 0.47 and a quick ratio of 0.47. Gen Digital Inc. has a fifty-two week low of $21.06 and a fifty-two week high of $32.22. The stock has a market capitalization of $12.86 billion, a price-to-earnings ratio of 21.90, a P/E/G ratio of 0.73 and a beta of 1.11.

Gen Digital (NASDAQ:GEN) last posted its quarterly earnings data on Thursday, February 5th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.01. Gen Digital had a return on equity of 56.76% and a net margin of 12.76%.The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the previous year, the firm earned $0.56 earnings per share. The business’s revenue was up 25.8% on a year-over-year basis. Gen Digital has set its Q4 2026 guidance at 0.640-0.660 EPS and its FY 2026 guidance at 2.540-2.560 EPS. Analysts expect that Gen Digital Inc. will post 2.05 EPS for the current fiscal year.

Gen Digital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 11th. Shareholders of record on Monday, February 16th were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $0.50 dividend on an annualized basis and a yield of 2.4%. Gen Digital’s dividend payout ratio is currently 51.55%.

About Gen Digital

Gen Digital (NASDAQ: GEN) is a global cybersecurity company specializing in consumer- and small-business-focused security, privacy, and identity protection solutions. The company offers a suite of products designed to safeguard devices, networks, and personal information against malware, ransomware, phishing attacks and other digital threats. With a focus on user-friendly interfaces and cross-platform compatibility, Gen Digital develops antivirus software, VPN services, parental controls, password management tools, and comprehensive identity-theft monitoring services.

Gen Digital traces its origins to the consumer software division of Symantec Corporation, which was spun off in late 2019 under the NortonLifeLock name.