Swedbank AB Sells 45,986 Shares of Gen Digital Inc. $GEN

Swedbank AB reduced its position in shares of Gen Digital Inc. (NASDAQ:GEN) by 5.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 751,319 shares of the company’s stock after selling 45,986 shares during the quarter. Swedbank AB’s holdings in Gen Digital were worth $20,428,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of GEN. Goldman Sachs Group Inc. lifted its stake in Gen Digital by 1.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,703,712 shares of the company’s stock valued at $71,757,000 after acquiring an additional 28,522 shares in the last quarter. Great Lakes Advisors LLC bought a new position in shares of Gen Digital during the 1st quarter worth approximately $205,000. Woodline Partners LP grew its stake in shares of Gen Digital by 37.8% during the 1st quarter. Woodline Partners LP now owns 27,590 shares of the company’s stock worth $732,000 after acquiring an additional 7,562 shares in the last quarter. Focus Partners Wealth raised its holdings in shares of Gen Digital by 9.7% in the first quarter. Focus Partners Wealth now owns 22,347 shares of the company’s stock valued at $593,000 after purchasing an additional 1,980 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Gen Digital by 221.5% in the first quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company’s stock valued at $46,000 after purchasing an additional 1,183 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GEN has been the subject of several recent research reports. Zacks Research upgraded shares of Gen Digital from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 18th. Wall Street Zen upgraded shares of Gen Digital from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Wells Fargo & Company initiated coverage on shares of Gen Digital in a research report on Tuesday, March 3rd. They set an “equal weight” rating and a $22.00 price target on the stock. Barclays increased their price objective on shares of Gen Digital from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Finally, Royal Bank Of Canada raised their price objective on Gen Digital from $22.00 to $24.00 and gave the company a “sector perform” rating in a report on Friday, May 8th. Two analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $31.29.

Gen Digital Price Performance

Shares of GEN opened at $24.82 on Tuesday. The company has a market cap of $15.03 billion, a price-to-earnings ratio of 15.71 and a beta of 1.10. Gen Digital Inc. has a 1-year low of $17.78 and a 1-year high of $32.22. The company’s fifty day simple moving average is $20.53 and its 200 day simple moving average is $23.66. The company has a current ratio of 0.40, a quick ratio of 0.47 and a debt-to-equity ratio of 3.07.

Gen Digital (NASDAQ:GEN) last issued its earnings results on Thursday, May 7th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.02. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. Gen Digital had a net margin of 19.46% and a return on equity of 55.47%. The firm’s revenue for the quarter was up 27.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.59 earnings per share. Gen Digital has set its Q1 2027 guidance at 0.680-0.700 EPS and its FY 2027 guidance at 2.850-2.950 EPS. On average, research analysts forecast that Gen Digital Inc. will post 2.66 earnings per share for the current fiscal year.

Gen Digital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Monday, May 18th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Monday, May 18th. Gen Digital’s payout ratio is presently 31.65%.

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.