Gen Digital Inc. (NASDAQ:GEN – Get 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.
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
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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