Danske Bank A S Acquires New Holdings in Gen Digital Inc. $GEN

Danske Bank A S bought a new position in shares of Gen Digital Inc. (NASDAQ:GEN) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 598,752 shares of the company’s stock, valued at approximately $14,903,000.

Several other large investors have also recently modified their holdings of GEN. Vanguard Group Inc. increased its holdings in Gen Digital by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 73,310,110 shares of the company’s stock valued at $1,993,302,000 after purchasing an additional 1,096,313 shares during the period. State Street Corp lifted its holdings in Gen Digital by 3.4% during the 3rd quarter. State Street Corp now owns 30,558,806 shares of the company’s stock worth $867,565,000 after buying an additional 1,015,755 shares during the period. Ameriprise Financial Inc. grew its position in shares of Gen Digital by 6.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 22,473,917 shares of the company’s stock valued at $660,730,000 after buying an additional 1,406,869 shares during the last quarter. First Trust Advisors LP grew its position in shares of Gen Digital by 22.3% in the 4th quarter. First Trust Advisors LP now owns 19,941,546 shares of the company’s stock valued at $542,211,000 after buying an additional 3,640,451 shares during the last quarter. Finally, Boston Partners increased its stake in shares of Gen Digital by 14.3% in the fourth quarter. Boston Partners now owns 15,644,289 shares of the company’s stock valued at $425,336,000 after buying an additional 1,954,712 shares during the period. Institutional investors own 81.38% of the company’s stock.

Insiders Place Their Bets

In other 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 transaction of $2,478,000.00. Following the completion of the sale, the director owned 3,832,724 shares of the company’s stock, valued at $94,974,900.72. This trade represents a 2.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director John C. Chrystal acquired 3,000 shares of the stock in a transaction dated Thursday, June 4th. The stock was bought at an average price of $27.06 per share, with a total value of $81,180.00. Following the purchase, the director directly owned 31,419 shares in the company, 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. In the last three months, insiders have sold 130,440 shares of company stock worth $3,372,946. Corporate insiders own 9.70% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GEN. Wells Fargo & Company raised their price objective on Gen Digital from $22.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Royal Bank Of Canada upped their target price on Gen Digital from $27.00 to $30.00 and gave the company a “sector perform” rating in a report on Friday, August 7th. Jefferies Financial Group downgraded shares of Gen Digital from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Wall Street Zen lowered shares of Gen Digital from a “buy” rating to a “hold” rating in a report on Sunday, August 16th. Finally, Barclays raised their price target on shares of Gen Digital from $27.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, Gen Digital currently has an average rating of “Hold” and a consensus price target of $31.67.

Gen Digital Stock Performance

GEN stock opened at $28.17 on Friday. The firm has a market cap of $16.86 billion, a PE ratio of 16.38 and a beta of 1.21. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 3.00. The stock has a 50-day moving average price of $26.40 and a 200-day moving average price of $23.53. Gen Digital Inc. has a 1-year low of $17.78 and a 1-year high of $31.88.

Gen Digital (NASDAQ:GEN) last announced its earnings results on Thursday, August 6th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.69 by $0.02. Gen Digital had a return on equity of 55.93% and a net margin of 20.73%.The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the company earned $0.64 EPS. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. 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, equities research analysts expect that Gen Digital Inc. will post 2.64 earnings per share for the current year.

Gen Digital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 17th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Monday, August 17th. Gen Digital’s dividend payout ratio is presently 29.07%.

Gen Digital Company 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.