Globeflex Capital L P Invests $689,000 in Gen Digital Inc. $GEN

Globeflex Capital L P bought a new stake in Gen Digital Inc. (NASDAQ:GEN) in the second quarter, HoldingsChannel.com reports. The firm bought 27,700 shares of the company’s stock, valued at approximately $689,000.

Other hedge funds have also bought and sold shares of the company. Assenagon Asset Management S.A. bought a new position in shares of Gen Digital during the second quarter worth approximately $25,920,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Gen Digital by 9.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,155,639 shares of the company’s stock valued at $30,128,000 after buying an additional 102,345 shares during the period. Legal & General Group Plc boosted its stake in shares of Gen Digital by 3.8% in the fourth quarter. Legal & General Group Plc now owns 9,085,216 shares of the company’s stock valued at $247,027,000 after buying an additional 334,156 shares during the period. National Pension Service grew its position in Gen Digital by 13.6% during the fourth quarter. National Pension Service now owns 934,892 shares of the company’s stock worth $25,420,000 after buying an additional 112,136 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Gen Digital by 17.9% during the first quarter. The Manufacturers Life Insurance Company now owns 384,754 shares of the company’s stock worth $7,245,000 after buying an additional 58,319 shares in the last quarter. 81.38% of the stock is owned by institutional investors.

Insider Transactions at Gen Digital

In other news, Director John C. Chrystal purchased 3,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The stock was bought at an average cost of $27.06 per share, for a total transaction of $81,180.00. Following the purchase, the director owned 31,419 shares of the company’s stock, valued at approximately $850,198.14. The trade was a 10.56% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Travis Michael Witteveen sold 30,000 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $29.42, for a total value of $882,600.00. Following the completion of the transaction, the insider owned 496,545 shares of the company’s stock, valued at $14,608,353.90. The trade was a 5.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 277,902 shares of company stock worth $7,549,344. Corporate insiders own 9.70% of the company’s stock.

Analyst Ratings Changes

GEN has been the topic of a number of recent research reports. Royal Bank Of Canada raised 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. Argus raised Gen Digital to a “strong-buy” rating in a report on Friday, May 22nd. Barclays raised their price target on Gen Digital from $27.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Wells Fargo & Company boosted their price target on Gen Digital from $22.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. Finally, Wall Street Zen cut shares of Gen Digital from a “buy” rating to a “hold” rating in a research report on Sunday, August 16th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $31.67.

Gen Digital Trading Up 0.7%

GEN opened at $29.31 on Wednesday. The company has a market cap of $17.54 billion, a P/E ratio of 17.04 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 company’s 50 day moving average is $26.68 and its 200-day moving average is $23.66. Gen Digital Inc. has a 1-year low of $17.78 and a 1-year high of $31.13.

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

Gen Digital Announces Dividend

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

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.