Sumitomo Mitsui Trust Group Inc. Has $23.64 Million Stock Position in Gen Digital Inc. $GEN

Sumitomo Mitsui Trust Group Inc. lessened its position in Gen Digital Inc. (NASDAQ:GEN) by 9.5% in the first quarter, HoldingsChannel reports. The fund owned 1,255,294 shares of the company’s stock after selling 131,788 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Gen Digital were worth $23,637,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC acquired a new position in shares of Gen Digital during the fourth quarter worth approximately $27,000. TD Private Client Wealth LLC grew its position in Gen Digital by 65.8% in the 4th quarter. TD Private Client Wealth LLC now owns 1,539 shares of the company’s stock valued at $42,000 after purchasing an additional 611 shares during the period. Geneos Wealth Management Inc. increased its stake in Gen Digital by 221.5% during the 1st 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 in the last quarter. MUFG Securities EMEA plc acquired a new position in Gen Digital during the second quarter worth $47,000. Finally, Brown Brothers Harriman & Co. raised its holdings in Gen Digital by 47.8% during the third quarter. Brown Brothers Harriman & Co. now owns 1,756 shares of the company’s stock worth $50,000 after buying an additional 568 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

Insider Activity at Gen Digital

In related news, Director John C. Chrystal purchased 3,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was bought at an average price of $27.06 per share, for a total transaction of $81,180.00. Following the purchase, the director directly owned 31,419 shares in the company, valued at approximately $850,198.14. This trade represents a 10.56% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ondrej Vlcek sold 100,000 shares of Gen Digital 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 transaction, the director owned 3,832,724 shares of the company’s stock, valued at $94,974,900.72. This represents a 2.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 9.30% of the company’s stock.

Gen Digital Trading Up 1.0%

Shares of Gen Digital stock opened at $26.16 on Tuesday. The firm has a market cap of $15.76 billion, a PE ratio of 16.56 and a beta of 1.21. Gen Digital Inc. has a 1 year low of $17.78 and a 1 year high of $32.22. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a fifty day moving average price of $24.56 and a 200-day moving average price of $23.27.

Gen Digital (NASDAQ:GEN) last issued its quarterly 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. Gen Digital had a net margin of 19.46% and a return on equity of 55.47%. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the previous year, the firm earned $0.59 EPS. The firm’s quarterly revenue was up 27.0% on a year-over-year basis. 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. Equities research analysts anticipate that Gen Digital Inc. will post 2.59 EPS for the current year.

Gen Digital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Monday, May 18th were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, May 18th. Gen Digital’s dividend payout ratio is currently 31.65%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GEN. Barclays lifted their price objective on shares of Gen Digital from $26.00 to $27.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Jefferies Financial Group cut shares of Gen Digital from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Argus raised Gen Digital to a “strong-buy” rating in a report on Friday, May 22nd. Wall Street Zen downgraded Gen Digital from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Finally, Royal Bank Of Canada raised their target price on Gen Digital from $22.00 to $24.00 and gave the company a “sector perform” rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.83.

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.