Meeder Advisory Services Inc. Acquires Shares of 23,473 Gen Digital Inc. $GEN

Meeder Advisory Services Inc. acquired a new position in shares of Gen Digital Inc. (NASDAQ:GEN) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 23,473 shares of the company’s stock, valued at approximately $584,000.

A number of other institutional investors also recently modified their holdings of GEN. Dunhill Financial LLC acquired a new position in shares of Gen Digital in the second quarter valued at about $50,000. Deutsche Bank AG acquired a new stake in Gen Digital in the 2nd quarter worth about $146,639,000. Trust Co. of Vermont bought a new stake in Gen Digital in the 2nd quarter valued at about $32,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Gen Digital in the 2nd quarter valued at about $33,895,000. Finally, Plato Investment Management Ltd acquired a new position in shares of Gen Digital during the 2nd quarter worth approximately $1,267,000. Institutional investors own 81.38% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GEN. Argus upgraded shares of Gen Digital to a “strong-buy” rating in a research report on Friday, May 22nd. Wall Street Zen lowered Gen Digital from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. Wells Fargo & Company lifted their price objective on Gen Digital from $22.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. Royal Bank Of Canada upped their target price on Gen Digital from $27.00 to $30.00 and gave the company a “sector perform” rating in a research report on Friday, August 7th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $31.67.

Insider Buying and Selling

In related news, Director Ondrej Vlcek sold 100,000 shares of the company’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $24.78, for a total transaction of $2,478,000.00. Following the completion of the sale, the director directly owned 3,832,724 shares in the company, valued at $94,974,900.72. This represents a 2.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Travis Michael Witteveen sold 30,000 shares of the firm’s stock in a transaction dated 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 sale, the insider directly owned 496,545 shares in the company, valued at $14,608,353.90. This trade represents a 5.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 130,440 shares of company stock worth $3,372,946 in the last ninety days. 9.70% of the stock is owned by insiders.

Gen Digital Stock Performance

NASDAQ GEN opened at $28.17 on Friday. The firm’s 50 day simple moving average is $26.40 and its 200 day simple moving average is $23.53. The firm has a market capitalization of $16.86 billion, a price-to-earnings ratio of 16.38 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. Gen Digital Inc. has a 1 year low of $17.78 and a 1 year high of $31.88.

Gen Digital (NASDAQ:GEN) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $1.31 billion. Gen Digital had a net margin of 20.73% and a return on equity of 55.93%. The company’s revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the business 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. As a group, 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 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 of this dividend is Monday, August 17th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.8%. Gen Digital’s payout ratio is 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.