Gen Digital Inc. $GEN Shares Purchased by PensionDanmark Pensionsforsikringsaktieselskab

PensionDanmark Pensionsforsikringsaktieselskab grew its position in shares of Gen Digital Inc. (NASDAQ:GEN) by 167.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,453 shares of the company’s stock after purchasing an additional 25,303 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Gen Digital were worth $1,007,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Gen Digital by 9.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,155,639 shares of the company’s stock worth $30,128,000 after acquiring an additional 102,345 shares during the last quarter. Legal & General Group Plc raised its holdings in Gen Digital by 3.8% in the 4th quarter. Legal & General Group Plc now owns 9,085,216 shares of the company’s stock valued at $247,027,000 after acquiring an additional 334,156 shares during the last quarter. LBP AM SA lifted its stake in shares of Gen Digital by 63.7% during the 4th quarter. LBP AM SA now owns 738,272 shares of the company’s stock worth $20,074,000 after purchasing an additional 287,369 shares during the period. National Pension Service lifted its stake in shares of Gen Digital by 13.6% during the 4th quarter. National Pension Service now owns 934,892 shares of the company’s stock worth $25,420,000 after purchasing an additional 112,136 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Gen Digital during the 2nd quarter worth $25,920,000. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Gen Digital Price Performance

Shares of Gen Digital stock opened at $29.29 on Tuesday. The business’s fifty day moving average price is $25.99 and its 200 day moving average price is $23.34. Gen Digital Inc. has a twelve month low of $17.78 and a twelve month high of $32.22. The company has a current ratio of 0.47, a quick ratio of 0.40 and a debt-to-equity ratio of 3.00. The stock has a market capitalization of $17.53 billion, a P/E ratio of 17.03 and a beta of 1.21.

Gen Digital (NASDAQ:GEN) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.31 billion. Gen Digital had a return on equity of 55.93% and a net margin of 20.73%.The firm’s revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.64 earnings per share. Gen Digital has set its FY 2027 guidance at 2.870-2.970 EPS and its Q2 2027 guidance at 0.710-0.730 EPS. As a group, research analysts anticipate that Gen Digital Inc. will post 2.61 earnings per share for the current year.

Gen Digital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 17th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Monday, August 17th. Gen Digital’s dividend payout ratio is 29.07%.

Insider Activity at Gen Digital

In related news, Director Ondrej Vlcek sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $24.78, for a total value of $2,478,000.00. Following the transaction, the director owned 3,832,724 shares in the company, valued at approximately $94,974,900.72. This trade represents a 2.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John C. Chrystal purchased 3,000 shares of Gen Digital stock in a transaction on Thursday, June 4th. The shares were acquired at an average cost of $27.06 per share, for a total transaction of $81,180.00. Following the completion of the transaction, the director owned 31,419 shares of the company’s stock, valued at $850,198.14. This represents a 10.56% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 9.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GEN. Barclays lifted their price objective on Gen Digital from $27.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday. Jefferies Financial Group downgraded Gen Digital from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Wall Street Zen raised Gen Digital from a “hold” rating to a “buy” rating in a research note on Saturday. Wells Fargo & Company lifted their price target on Gen Digital from $22.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Royal Bank Of Canada upped their price objective on shares of Gen Digital from $27.00 to $30.00 and gave the company a “sector perform” rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $31.67.

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.