Wedge Capital Management L L P NC Acquires 29,548 Shares of Gen Digital Inc. $GEN

Wedge Capital Management L L P NC increased its holdings in Gen Digital Inc. (NASDAQ:GEN) by 15.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 225,689 shares of the company’s stock after acquiring an additional 29,548 shares during the period. Wedge Capital Management L L P NC’s holdings in Gen Digital were worth $6,136,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Gen Digital by 1.4% in the third quarter. Vanguard Group Inc. now owns 72,213,797 shares of the company’s stock valued at $2,050,150,000 after purchasing an additional 964,046 shares in the last quarter. Schroder Investment Management Group raised its position in Gen Digital by 48.1% in the 2nd quarter. Schroder Investment Management Group now owns 978,066 shares of the company’s stock valued at $28,755,000 after buying an additional 317,468 shares during the last quarter. Mackenzie Financial Corp raised its position in Gen Digital by 39.4% in the 2nd quarter. Mackenzie Financial Corp now owns 359,142 shares of the company’s stock valued at $10,559,000 after buying an additional 101,580 shares during the last quarter. Jupiter Asset Management Ltd. bought a new position in Gen Digital during the 3rd quarter valued at $8,238,000. Finally, Y Intercept Hong Kong Ltd lifted its stake in Gen Digital by 525.5% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 83,826 shares of the company’s stock valued at $2,380,000 after acquiring an additional 70,424 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.

Analyst Ratings Changes

GEN has been the subject of several recent analyst reports. Barclays reduced their target price on shares of Gen Digital from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Friday, February 6th. Wall Street Zen raised shares of Gen Digital from a “hold” rating to a “buy” rating in a research report on Sunday. Wells Fargo & Company started coverage on shares of Gen Digital in a report on Tuesday, March 3rd. They set an “equal weight” rating and a $22.00 price target on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Gen Digital in a research note on Thursday, January 22nd. Finally, Zacks Research raised shares of Gen Digital from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Gen Digital presently has a consensus rating of “Hold” and a consensus price target of $32.71.

Gen Digital Price Performance

Gen Digital stock opened at $18.34 on Friday. The business’s 50 day simple moving average is $22.69 and its 200 day simple moving average is $25.60. Gen Digital Inc. has a 12 month low of $18.20 and a 12 month high of $32.22. The company has a market cap of $11.11 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 0.61 and a beta of 1.11. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 3.50.

Gen Digital (NASDAQ:GEN) last released its earnings results on Thursday, February 5th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.01. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.23 billion. Gen Digital had a return on equity of 56.76% and a net margin of 12.76%.The business’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same period last year, the business posted $0.56 earnings per share. 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. Sell-side analysts forecast that Gen Digital Inc. will post 2.05 EPS for the current year.

Gen Digital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 11th. Investors of record on Monday, February 16th were issued a $0.125 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $0.50 annualized dividend and a yield of 2.7%. Gen Digital’s dividend payout ratio (DPR) is 51.55%.

Gen Digital Profile

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.