Gen Digital Inc. (GEN) to Issue Quarterly Dividend of $0.12 on September 9th

Gen Digital Inc. (NASDAQ:GENGet Free Report) announced a quarterly dividend on Thursday, August 6th. Investors of record on Monday, August 17th will be paid a dividend of 0.125 per share on Wednesday, September 9th. This represents a c) dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Monday, August 17th.

Gen Digital has a payout ratio of 17.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Gen Digital to earn $3.04 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 16.4%.

Gen Digital Price Performance

Shares of GEN stock opened at $28.48 on Friday. The stock’s 50-day moving average is $26.17 and its 200 day moving average is $23.46. Gen Digital has a 1-year low of $17.78 and a 1-year high of $31.88. The company has a debt-to-equity ratio of 3.00, a current ratio of 0.47 and a quick ratio of 0.40. The company has a market cap of $17.05 billion, a P/E ratio of 16.56 and a beta of 1.21.

Gen Digital (NASDAQ:GENGet Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates 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 firm’s revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $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. Research analysts predict that Gen Digital will post 2.61 earnings per share for the current fiscal year.

Insider Activity at Gen Digital

In related news, insider Travis Michael Witteveen sold 30,000 shares of the firm’s stock in a transaction on 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 transaction, the insider owned 496,545 shares in the company, valued at $14,608,353.90. This trade represents a 5.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John C. Chrystal bought 3,000 shares of Gen Digital stock in a transaction that occurred on Thursday, June 4th. The stock was purchased at an average price of $27.06 per share, with a total value of $81,180.00. Following the purchase, the director directly owned 31,419 shares in the company, valued at $850,198.14. The trade was a 10.56% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 9.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Gen Digital

A number of large investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its stake in Gen Digital by 1.1% during 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 during the period. Great Lakes Advisors LLC purchased a new stake in shares of Gen Digital in the 1st quarter valued at $205,000. Woodline Partners LP increased its stake in shares of Gen Digital by 37.8% in the first quarter. Woodline Partners LP now owns 27,590 shares of the company’s stock worth $732,000 after acquiring an additional 7,562 shares during the period. Focus Partners Wealth increased its stake 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 worth $593,000 after acquiring an additional 1,980 shares during the period. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Gen Digital by 221.5% during the first quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company’s stock worth $46,000 after purchasing an additional 1,183 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Gen Digital Company Profile

(Get Free Report)

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.

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Dividend History for Gen Digital (NASDAQ:GEN)

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