Man Group plc Purchases Shares of 226,487 Gen Digital Inc. $GEN

Man Group plc purchased a new position in Gen Digital Inc. (NASDAQ:GEN) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 226,487 shares of the company’s stock, valued at approximately $5,637,000.

Other large investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. bought a new position in Gen Digital in the second quarter worth about $25,920,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Gen Digital by 9.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,155,639 shares of the company’s stock valued at $30,128,000 after acquiring an additional 102,345 shares in the last quarter. Legal & General Group Plc boosted its position in Gen Digital by 3.8% during the 4th quarter. Legal & General Group Plc now owns 9,085,216 shares of the company’s stock valued at $247,027,000 after acquiring an additional 334,156 shares in the last quarter. National Pension Service grew its holdings in shares of Gen Digital by 13.6% during the 4th quarter. National Pension Service now owns 934,892 shares of the company’s stock worth $25,420,000 after acquiring an additional 112,136 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Gen Digital by 17.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 384,754 shares of the company’s stock worth $7,245,000 after acquiring an additional 58,319 shares during the period. Institutional investors own 81.38% of the company’s stock.

Insider Buying and Selling

In other Gen Digital news, Director Ondrej Vlcek sold 200,000 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $30.00, for a total transaction of $6,000,000.00. Following the transaction, the director directly owned 3,332,904 shares in the company, valued at $99,987,120. This trade represents a 5.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John C. Chrystal purchased 3,000 shares of Gen Digital stock in a transaction dated Thursday, June 4th. The stock was acquired at an average price of $27.06 per share, with a total value of $81,180.00. Following the acquisition, the director owned 31,419 shares in the company, valued at approximately $850,198.14. This represents a 10.56% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 630,260 shares of company stock worth $17,967,726 over the last three months. 9.70% of the stock is owned by insiders.

Gen Digital Price Performance

Shares of NASDAQ:GEN opened at $31.02 on Friday. The firm’s 50 day moving average price is $27.06 and its 200-day moving average price is $23.81. The stock has a market capitalization of $18.57 billion, a PE ratio of 18.03 and a beta of 1.21. Gen Digital Inc. has a twelve month low of $17.78 and a twelve month high of $31.29. 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 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 firm had revenue of $1.34 billion for 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 last year, the firm 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 expect that Gen Digital Inc. will post 2.64 EPS for the current year.

Gen Digital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 17th will be given a $0.125 dividend. The ex-dividend date is Monday, August 17th. This represents a $0.50 annualized dividend and a yield of 1.6%. Gen Digital’s dividend payout ratio (DPR) is currently 29.07%.

Analyst Ratings Changes

Several equities analysts have commented on GEN shares. Argus raised Gen Digital to a “strong-buy” rating in a research report on Friday, May 22nd. Wells Fargo & Company lifted their price target on shares of Gen Digital from $22.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Royal Bank Of Canada boosted their price objective on shares of Gen Digital from $27.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Friday, August 7th. Weiss Ratings upgraded shares of Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 15th. Finally, Wall Street Zen downgraded shares of Gen Digital from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. One 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’s stock. Based on data from MarketBeat.com, Gen Digital presently has a consensus rating of “Hold” and an average price target of $31.67.

Gen Digital Company 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.