Greenwood Capital Associates LLC bought a new position in shares of Gen Digital Inc. (NASDAQ:GEN – Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 42,076 shares of the company’s stock, valued at approximately $1,047,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. bought a new stake in shares of Gen Digital during the 2nd quarter valued at approximately $25,920,000. Mitsubishi UFJ Asset Management Co. Ltd. grew 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 worth $30,128,000 after acquiring an additional 102,345 shares during the last quarter. Legal & General Group Plc increased its holdings in Gen Digital by 3.8% in the 4th quarter. Legal & General Group Plc now owns 9,085,216 shares of the company’s stock worth $247,027,000 after purchasing an additional 334,156 shares in the last quarter. National Pension Service raised its position in Gen Digital by 13.6% in the fourth quarter. National Pension Service now owns 934,892 shares of the company’s stock valued at $25,420,000 after purchasing an additional 112,136 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Gen Digital by 17.9% during the first quarter. The Manufacturers Life Insurance Company now owns 384,754 shares of the company’s stock worth $7,245,000 after purchasing an additional 58,319 shares during the last quarter. 81.38% of the stock is owned by institutional investors.
Gen Digital Price Performance
NASDAQ:GEN opened at $31.02 on Friday. The firm has a market capitalization of $18.57 billion, a price-to-earnings ratio of 18.03 and a beta of 1.21. The company has a debt-to-equity ratio of 3.00, a quick ratio of 0.47 and a current ratio of 0.47. The stock has a fifty day moving average of $27.06 and a 200 day moving average of $23.81. Gen Digital Inc. has a 52-week low of $17.78 and a 52-week high of $31.29.
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 paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Monday, August 17th. Gen Digital’s dividend payout ratio is presently 29.07%.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on GEN. Weiss Ratings raised Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 15th. Royal Bank Of Canada increased 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 report on Friday, August 7th. Wall Street Zen cut shares of Gen Digital from a “buy” rating to a “hold” rating in a research report on Sunday, August 16th. Barclays lifted their target price on Gen Digital from $27.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Finally, Argus upgraded Gen Digital to a “strong-buy” rating in a report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, Gen Digital presently has a consensus rating of “Hold” and an average target price of $31.67.
View Our Latest Analysis on Gen Digital
Insider Buying and Selling at Gen Digital
In other news, Director John C. Chrystal bought 3,000 shares of the firm’s stock in a transaction dated 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 transaction, the director owned 31,419 shares of the company’s stock, valued at approximately $850,198.14. The trade was a 10.56% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Travis Michael Witteveen sold 30,000 shares of Gen Digital stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $29.42, for a total value of $882,600.00. Following the sale, the insider owned 496,545 shares in the company, valued at $14,608,353.90. This represents a 5.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 630,260 shares of company stock valued at $17,967,726. 9.70% of the stock is currently owned by corporate insiders.
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.
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