Corient Private Wealth LP Takes $4.69 Million Position in Gen Digital Inc. $GEN

Corient Private Wealth LP acquired a new stake in shares of Gen Digital Inc. (NASDAQ:GEN) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 188,558 shares of the company’s stock, valued at approximately $4,694,000.

Several other large investors also recently made changes to their positions in GEN. Assenagon Asset Management S.A. acquired a new stake in Gen Digital in the second quarter worth about $25,920,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings 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 in the last quarter. Legal & General Group Plc raised its position in shares of Gen Digital by 3.8% during the fourth quarter. Legal & General Group Plc now owns 9,085,216 shares of the company’s stock worth $247,027,000 after purchasing an additional 334,156 shares during the period. National Pension Service lifted its stake in Gen Digital by 13.6% during the fourth quarter. National Pension Service now owns 934,892 shares of the company’s stock valued at $25,420,000 after buying an additional 112,136 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Gen Digital by 17.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 384,754 shares of the company’s stock valued at $7,245,000 after acquiring an additional 58,319 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Gen Digital Stock Down 0.1%

Shares of NASDAQ GEN opened at $31.00 on Tuesday. Gen Digital Inc. has a 12-month low of $17.78 and a 12-month high of $31.29. The firm’s 50-day simple moving average is $27.22 and its 200 day simple moving average is $23.84. The company has a market cap of $18.56 billion, a price-to-earnings ratio of 18.02 and a beta of 1.21. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 3.00.

Gen Digital (NASDAQ:GEN) last released its quarterly 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. The business had revenue of $1.34 billion for 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%. Gen Digital’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $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. On average, research 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 announced a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 17th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, August 17th. Gen Digital’s dividend payout ratio (DPR) is 29.07%.

Insider Buying and Selling at Gen Digital

In other news, insider Travis Michael Witteveen sold 30,000 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $29.42, for a total value of $882,600.00. Following the completion of the sale, the insider directly owned 496,545 shares of the company’s stock, valued at $14,608,353.90. This represents a 5.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ondrej Vlcek sold 200,000 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $30.00, for a total transaction of $6,000,000.00. Following the completion of the sale, the director directly owned 3,332,904 shares of the company’s stock, valued at $99,987,120. The trade was a 5.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 630,260 shares of company stock valued at $17,967,726. 9.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented 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. Barclays upped their price target on Gen Digital from $27.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Argus upgraded shares of Gen Digital to a “strong-buy” rating in a research note on Friday, May 22nd. Royal Bank Of Canada lifted their price target on Gen Digital from $27.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Friday, August 7th. Finally, Weiss Ratings raised shares of Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $31.67.

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.