Elevation Point Wealth Partners LLC Makes New $4.18 Million Investment in Gen Digital Inc. $GEN

Elevation Point Wealth Partners LLC bought a new stake in shares of Gen Digital Inc. (NASDAQ:GEN) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 168,053 shares of the company’s stock, valued at approximately $4,183,000.

Other large investors have also modified their holdings of the company. Deutsche Bank AG purchased a new position in Gen Digital during the second quarter valued at approximately $146,639,000. Bank of New York Mellon Corp bought a new position in Gen Digital in the second quarter worth approximately $108,421,000. Arrowstreet Capital Limited Partnership lifted its holdings in Gen Digital by 45.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 13,094,386 shares of the company’s stock worth $246,567,000 after buying an additional 4,115,676 shares during the period. First Trust Advisors LP lifted its holdings in Gen Digital by 22.3% during the fourth quarter. First Trust Advisors LP now owns 19,941,546 shares of the company’s stock worth $542,211,000 after buying an additional 3,640,451 shares during the period. Finally, Alyeska Investment Group L.P. bought a new stake in Gen Digital during the 4th quarter valued at $70,248,000. Institutional investors own 81.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Wall Street Zen downgraded Gen Digital from a “buy” rating to a “hold” rating in a report on Sunday, August 16th. Royal Bank Of Canada upped their price objective on Gen Digital from $27.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Friday, August 7th. Barclays raised 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, August 7th. Argus upgraded Gen Digital to a “strong-buy” rating in a research note on Friday, May 22nd. Finally, Wells Fargo & Company boosted their target price on shares of Gen Digital from $22.00 to $28.00 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 assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $31.67.

Insiders Place Their Bets

In related news, Director John C. Chrystal acquired 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was purchased at an average cost of $27.06 per share, with a total value of $81,180.00. Following the transaction, the director directly owned 31,419 shares of the company’s stock, valued at $850,198.14. This trade represents a 10.56% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Travis Michael Witteveen sold 30,000 shares of Gen Digital stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $29.42, for a total transaction of $882,600.00. Following the completion of the sale, the insider owned 496,545 shares of the company’s stock, valued at $14,608,353.90. This trade represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 230,440 shares of company stock valued at $6,172,946. 9.70% of the stock is currently owned by corporate insiders.

Gen Digital Stock Performance

Shares of GEN stock opened at $28.93 on Friday. Gen Digital Inc. has a 12-month low of $17.78 and a 12-month high of $31.88. The business’s fifty day simple moving average is $26.49 and its 200-day simple moving average is $23.57. 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 company has a market cap of $17.32 billion, a PE ratio of 16.82 and a beta of 1.21.

Gen Digital (NASDAQ:GEN) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Gen Digital had a return on equity of 55.93% and a net margin of 20.73%.The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the firm earned $0.64 EPS. The business’s quarterly revenue was up 6.3% on a year-over-year basis. 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. Analysts expect that Gen Digital Inc. will post 2.64 earnings per share for the current fiscal year.

Gen Digital Announces Dividend

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 $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Monday, August 17th. Gen Digital’s dividend payout ratio (DPR) is currently 29.07%.

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.